With all of the ICOs launching left and right for about 9 months now its become a huge blur to investors and those seeking the next big get rich quick like bitcoin. (which seriously if you people would just invest in bitcoin instead of all this other garbage you'd be better off just FYI)
The SEC has announced it has created a FAKE ICO called Howeycoins. https://www.howeycoins.com is a site that was created by the SEC to try and educate people and investors in cryptocurrency who seem to be buying up scam after scam instead of being smart with their money.
This clearly shows why yes we need government and regulations because seriously people are STUPID when it comes to investing and expect to be bailed out when they make an ovious mistake.
This site looks like the real deal, solid design, solid offer amazing opportunity right?!
But as soon as you click to buy you will be redirected to the SEC website which tells you why this is clearly a scam.
I honestly hope many of you reading this take this to heart and use it as a learning experience before you start risking your savings etc on shady practices and ICOs.
The best way to combat this is by educating yourself. So for now visit the page, read up on what to look for in scams and seriously educate yourself so you can be smarter with your time and money.
Best ICO 2018! ;)
lol, it totally does look legit though or at least like the 500 other ICOs that have launched. Just goes to show you watch out where you put your money. I'm sure millions have been scammed out of money it not billions of dollars worth.
Hive
vote
I put my life savings it it! 1% daily gainzzzzz hahaha
All the gainzzzzzz!
I think this is great and should be the focus of the SEC in protecting investors from fraud. However, they are also confusing potential participants by talking about regulation of ICOs and fraud in the same discussions. Sone may view the discussions in being related to each other. Investor protection is not a bad thing but generalizing a concept is.
Its the government they never get it right lol but at least they are doing something and that I can applaud :)
tipuvote!
great piece of information...upvote and resteem for you :)
This is the equivalent of Financial Darwinism. People who do the due diligence will avoid the scams, while those who don't will get fleeced.
Bitcoin & co price is low due to laziness of work @bitcoinflood
its amazing how people go too fast into something, i always take my time in all investments, research and contact all those involved before making a move, anyways really good post, more people should follow your advice. thanks
Thats good they are doing this. Keeping people safe from themselves. Red flags are all over it.
Woww rely
TOTES! For Reals! That's the truth truth
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Great idea by the SEC. Spent some small amounts last year in 3 ico's would not be surprised if they all are gone by now. Would of been to just kept the money in bitcoin.
One e-mail account is getting blasted with new ico's everyday. This started recently. Must of discovered it thru another ico offer. All are sent to spam and deleted. Becareful people and take bitcoinfloods advice.
upvoted good luck
Thx for sharing!
I like the Idea but on the other Hand, you can t heal greedy People from beeing greed....... they have to learn it on the hard Way.
Wow, I wouldn't have thought SEC will come up with such an ingenious way to warn people about the risks associated with unregulated ICOs!
If Ico wasn't scam then I would invest my money on it
Unfortunately there's always going to be stupid people regardless of regulations.
Still though, this was a kind of funny way to call out people's stupidity.
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Totally agree with this sentiment. I also wrote a post regarding navigating the SEC uncertainty.