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RE: Reponse to Vitalik's Written Remarks

in #eos7 years ago (edited)

LoL you guys don't understand nothin. ICO's aren't for every-day investors basically. Do you understand the legal reasons of why they do this? If you don't understand the legal reasons of why someone would word their ICO in that manner:

  • You should not participate
  • You should not make videos about why it is a scam, if you cannot explain why they took those measures in the first place
  • ICO's are 100% speculation and can go to zero in value very easily, so making some video about how "strange and risky" it is... is kind of like saying you are clueless about crypto to begin with

No crypto, including bitcoin is a "reputable investment". This is the wild west of investing.

Had EOS promised you the world in their legal docs, then certainly it would be a scam and they are lying. Rather they took the standard US legal approach to everything, they completely washed their hands of ALL LIABILITY. This is how reputable US corporations operate. They claim no liability and promise nothing, so when you sue them, you get nothing. If you worked in the corporate world at all, you will understand. If you come from another country where you have honest people who believe in doing deals with handshakes, you will never understand. This is USA lawyerism. In the US, if you don't put a warning label on your cup, you will get a million dollar lawsuit if someone burns their tongue from drinking it.

The fact that the EOS ICO makes no warranties and disclaims all liabilities, means they know what they are doing. The difference between them being honest and a scam is, after they have disclaimed all liability, will they still do the project? Will they still produce EOS even when they are not legally obligated to? You see, if they had drafted a contract and something went horribly wrong, people could potentially sue them depending on their jurisdiction. If you disclaim liability, you can do the project without ever worrying about the risk of the project failing due to unforeseen circumstances, since it offers no warranties of receiving EOS.

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That's why the Useless Ethereum Token ICO was the best ICO -- 'cause they were honest: https://uetoken.com/

Can't wait for the market cap to be above $1 million (currently at $118k): https://coinmarketcap.com/assets/useless-ethereum-token/

Thats a good way of looking at it.

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