Yes. I rather you or anyone putting money not get in trouble.
I am very aware of the security laws. Unless you are a certified financial advisor you can not ask investment money from public. You will get into trouble
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Hey azircon, I really appreciate your advice about being cautious.
all SEED investors are aware of the situation and (as I understand it) that they know that I can cease operations at any time and for any reason, I deem valid (legality being one of them).
One of the things planned long term for SEED is to form a DAO, although I have not done the relevant research as the project is barely 10 days old but I understand that is the key to being able to escape regulations that would define SEED as security. As of today, I have not seen a single $ in my pocket due to SEED, and in fact, I am buying tokens the same way everyone else does (1:1 in exchange for HBD).
regarding that, and although it may be interpreted as a loophole, I am not asking for 'investment money', I'm asking for HBD which for governments have literally 0 value (in exchange for another token with 0 intrinsic value; SEED).
In my view, governments cannot play both sides of the game. Either they accept the cryptocurrencies in question as money (with the relevant implications, or they don't).
Of course, this is my understanding and I could be 100% flawed, but I won't be ceasing operations waiting for governments to regulate the thing seeing the opportunity running away in front of my eyes.
I comply with all obligations as far as my business is concerned (complying 100% with the current law in my country) and I understand that the buyers of SEED do as well (being 100% responsible for the purchase/sale of the token as well as the corresponding capital gains).
I'm upvoting all comments to get a bit more visibility. If anyone can contribute to the conversation, please do so.
Your 'investors' are not governments, so it is not the government I am worried about. To the investors HBD does have value, we try to peg it to $1. Hive as a project decides its value.
The rub is that you 'asked' for investments, and you can't, legally.
You can ask for money to an individual, privately, but you can't to a group publicly. Trouble is blockchain keeps a record of this and I am telling you, you can be in trouble for this. Not today, not tomorrow, but maybe someday. And for what? Is it worth it?
I thought you were worried about the government intervention (something which I highly doubt and especially at this early stage).
Technically I never 'asked' for investments to anyone, I listed a token at Hive-Engine and people decided (freely) to exchange it for HBD (which we accept as something valuable).
No contract was signed regarding anything. Everyone agreed that everything could be lost as there's an inherent risk (as with everything).
That's good food for thought, but (at the moment) I think it's worth the effort.
Thanks again for your input.
I decided very freely to invest
Very smart advice 💥☝️