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>tfw you have an idea for an ICO that could make you and all of your investors make it to lambo land
Except you live in the land of the free. And not only is buying ICOs not (practically) legal, but creating ICOs is also basically illegal, or extremely prohibitive.
I looked at all the registration exemptions
Regulation A, Regulation D -Rules 504,505,506(b) & 506(c)
Each one has a little part that makes them unusable for ICOs or an ICO for the company I propose to start.
It's like there is a big money wall in the US that keeps the less fortunate in line. and/or they think people without money are too stupid to make decisions about money. ... but then how are they supposed to make material amounts of money?
>you must have this much money to ride this ride
makes me want to move
Only option is to incorporate a company and file a form S-1 with the SEC... to register the ICO. And get the SEC to approve it. hodl me biz
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I've been thinking about creating a coin called Scamcoin which sole purpose would be to scam people out of money. The whitepaper would literally be just one paragraph explaining why you shouldn't invest. And the fucked up part is that there are people who would.
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>>3137473
>It's like there is a big money wall in the US that keeps the less fortunate in line
Just like how it's illegal to invest in a private business unless you have a million dollars in non-real estate assets. Now do you finally see why Bernie wanted to tear down the banks?
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>>3137510
No they wouldn't you retard. Only an idiot with a false sense of intellectuak superiority would believe other people are much dumber than them.
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>>3137510
People would buy that no doubt.
>>3137546
Yes that's exactly what I'm talking about. All of those exemptions had the "only sell to accredited investors" tag on it.
Not only that, operations of the company I want to start requires it's operator to be an accredited investor. The funds of the ICO is how I was going to get there. The sell point of the token is that I use the net proceeds of the operations to buy back the coin, indefinitely. &there would be significant proceeds.
>>3137556
Some people would buy it, maybe not a lot. but we'd definitely see some ironic shills and ironic buys, followed by non ironic things of both lol
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