The SEC added with their continuing collection of warnings regarding crypto by warning roughly ICOs double weekly. We explain both SEC warnings.
The warnings have been:
- Investor Alert: Celebrity Endorsements– Where they warn that because Paris Hilton says its a fantastic concept, doesn’t mean it is.
- SEC Exposes Two Initial Coin Offerings Purportedly Backed by Real Estate and Diamonds– Where they warn that some ICOs make absurd claims that, as you perhaps could tell from their shady white-paper and site, were not true. For example, the REcoin, or real estate coin, and theDRC, or Diamond Reserve Club, are both a scams operated by the similarly guy (Maksim Zaslavskiy).
In other words, the SEC is correctly and wisely confirming what we all know instinctively… some ICOs are scams.
Unlike our armchair assumptions though, the SEC is likely basing these claims on data they have (this can be confirmed for the real estate and diamonds scam, but we are assuming this for the celebrity one).
NOTE: From here forward I am going to make the news fun by cracking jokes. If you don’t believe as being half-entertained with my lame jokes, then simply go throughout the SEC’s less vibrant information.
Look, you overlook ‘t purchase a grill just because George Forman tells you to… er. Well, you don’t presume that a guy for President simply because he gave you a difficult sell on TV… Oh, wait, never mind. A great deal of folks are most likely planning to obtain swindled here.
Do me a favor. Don’t obtain swindled. Read the SECs advice and follow it. When someone offers you something that is to good to be true, when they make that hard sell, partially be skeptical. Bitcoin at any cost is better than some made up real estate coin.
Remember the SEC isn’t letting you know never to purchase 7k Bitcoins, they have been just caution not to trust the hype regarding any ICO that says it’s endorsed by Diamonds because they paid of a star to correct it.
You need to have the ability to catch a glimpse of a con with essential things like investments. If you doubt that you are able to wait before an ICO starts to purchase . Many ICOs watch their tokens return until they move up. Once it’s available on the store, you then partially understand its real. Watch more about ICOs.
JOKINGI’m not saying purchase TrumpCoin. I am talking about, tons of people probably missed out to the enormous value of the massive beautiful coin. Its OK never to be considered a success. Perhaps not everybody will triumph just like people intelligent, smart, and I am very wise believe in me, individuals who purchase TrumpCoin. That’ll seem as a joke, and really it’s really a joke…. However, the purpose I’m making here isn’t just a joke. About January 20th TrumpCoin was pumped and this means many people finished “holding the bag” (they bought high and hauled before it moved non ). Getting swindled by traders in the store on a random alt coin is awful, but purchasing to a scam ICO which isn’t even real is worse. This is the Wild West, be cautious… especially when .
NOTES: No disrespect to President Trump, just using the coin with his name to make a point here. It used to be, back when Bitcoin was under $1,000, that you could make political jokes without dividing the country in half. You can’t anymore. But , most of us have to be in a position to put politics aside and concentrate on cash. Its exactly what Trump might like.
TIP: If you truly wish to purchase to an ICO that appears unethical, then I suggest looking atUseless Ethereum Token. That’s what honesty resembles. Sure, a few ICOs are fantastic, however for example, “some” being the important word.