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Floyd Mayweather, DJ Khaled Charged For Illegally Touting Crypto Offerings (theverge.com)
The Securities and Exchange Commission is charging DJ Khaled and professional boxer Floyd Mayweather Jr for failing to disclose that they were paid promotional fees to tout fraudulent initial coin offerings. The Verge reports: According to the SEC, this is the first time that individuals have faced charges involving ICOs. The Commission is accusing Mayweather of failing to disclose a $100,000 promotional payment and DJ Khaled with a $50,000 one. Both celebrities received these promotional fees from Centra Tech, Inc. earlier this year. Neither Mayweather nor Khaled have admitted to or denied the Commission's findings, but both have agreed to pay back what they had received to promote the ICO and are facing hundreds of thousands of dollars in additional penalties each. "These cases highlight the importance of full disclosure to investors," said SEC Enforcement Division co-director Stephanie Avakian. "With no disclosure about the payments, Mayweather and Khaled's ICO promotions may have appeared to be unbiased, rather than paid endorsements."
I agree with disclosure, but if anyone bought cryptocoin because of advice they got from Floyd Mayweather, they are going to be parted with their money sooner or later. I don't know what is wrong with America that allows this kind of advertising strategy to work, but it might very well be the central problem in America at the moment.
"First they came for the slanderers and i said nothing."
Make $XXm, get fined $XXk. Seems like a good deal to me.
Instead, I chose to go with my Nigerian Prince Crypto-Currancy blockchain based on the email notification of the inheritance of 20 Million Naira. /s
But they are few and far in between and even those are decidedly high-risk. The basic problem is that in a business-context, the blockchain does not solve a new problem, but a solved one. It does it with a bit different characteristics, but so far it seems not really that much better. Take, for example, a bank-to-bank money transfer. This is today either done via an intermediate exchange or based on a direct agreement between the two banks. The exchange charges something (not a lot, a transfer of unlimited amount is something like less than 0.01 cent in Europe if you have volume), and some banks want to get rid of the exchange, but really the most of the work the exchange does is to offer a technical interface to the clients so they do not have to arrange for one with each other bank they do business with. That is not enough to justify going to a blockchain solution. But what about being able to prove the transfer later? Banks already need to have revision-proof storage for that. Hence both source and target bank can already prove the transfer happened and cannot claim it did not. The blockchain adds absolutely nothing here.
As it turns out, that pretty much eliminates the "currency" use, except for the case were you want anonymity. But most blockchain-tech does not actually give you that in actual reality. Monero, as a specialty niche solution, does and that is why it may have an actual valid use-case, but only if it eventually gets its volatility under control. As the cryptocurrency-craze very much banks on people that try to get rich, that means speculation and volatility, again making that "currency" actually useless as a currency. What is left? Supply-chain management? Revision-proof storage still has an edge there. Anything else? Not really.
So this is it basically, except for a few special scenarios, but only ones were volatility and speculation is a severe problem. Hence in general, there is nothing but speculation in here and that invites fraud. The typical ICO is basically a pyramid-scheme and these are illegal for a reason. The disclosure requirements are there for the same reason. And violating them is at the very least preparation for fraud.
Most ACs are not even worth the keystrokes to insult them. Be generically insulted by this and ignored otherwise.
DJ Khaled getting busted for cryptocurrency is one of those stories that we'll look back on someday and laugh. I mean, it's probably not a laughing matter for DJ Khaled, but it's pretty funny and really a slice of life in 2018.
But Ludacris' verse on that DJ Khaled song is fire. It's one for the ages.
https://youtu.be/GGXzlRoNtHU
You are welcome on my lawn.
You seem to have slept though the classes where they explained "separation of powers". Trump cannot send anybody to prison and for good reasons. Or are you advocating for making the US a fascist nation were separation of powers gets abolished?
Most ACs are not even worth the keystrokes to insult them. Be generically insulted by this and ignored otherwise.
I'm sorry you live in the middle of nowhere and 5,000 people sounds like a full-scale invasion to you, but there's dozens of millions of people on this side of that border. 5,000 isn't even a particularly large rave, let alone a fucking army. You're hyperventilating over nothing.
When did my narrative shift? Prove it.
Fascinating. It is rare to run into a truly evil person these days. You qualify. I hope you at least have fun being evil, because if there is any sort of performance review after this life, you are soooo screwed....
Most ACs are not even worth the keystrokes to insult them. Be generically insulted by this and ignored otherwise.
Can't wait for Trump to put all those libtards in federal prison San Quentin
As a conservative, let me just say what an asshole you are.
Just another day in Paradise
As a liberal, thank you for saying that for me.
Be kind, for everyone you meet is fighting a difficult battle. - Plato
You're welcome. Extremists like this jackass need to be called out. And we all should stop demonizing people on the other side just because we have differences of opinions. The vast majority of us have family members on opposing sides. Do we really hate them?
Just another day in Paradise
Will people ever learn? No, probably not.
There are well over 50,000 illegal crossings per month normally. The only reason anybody can even notice this group is that they're too poor to pay smugglers, and too bedraggled to run around looking for spots to sneak through. And many are running from gangs, so they're scared to even attempt to access the information networks that would tell them where to go.
When people attempt to rush an international border in a group, most countries are going to shoot them. A Buddhist country would shoot them for sure. OTOH, this particular group of people is neither large, nor threatening; OTOH, they're behaving in a maladaptive way currently. But if they were able to figure out their situation, they would already not be in as bad a situation. There will always be the most ignorant, the most bedraggled, the least deserving.
A lot of Americans are Christian, but most of them forgot how they're supposed to treat the least deserving. In fact, many of them "forgot" if that was even mentioned in their Bible!
These are people so poor, if you offered them welfare they wouldn't trust you enough to fill out the paperwork.
The only danger is that they might get arthritis from picking a lot of strawberries because they don't see themselves as important enough to compete for jobs picking beans.
About 50% of the people you would have to include to get numbers that high are not here illegally.
It is illegal to enter without permission, but visa overstays are not breaking any law. The law says that if their status runs out, the government may send them a letter at any time ordering them to leave. If that never happens, they are "without status" but their presence is not illegal at all.
If Conservitards could learn about American civics, they could probably make a lot of progress on issues they purport to care about by merely knowing enough about the American Way to participate in reform conversations. Instead, they just shout a lot, and don't make any progress on anything they say they care about. LOL
Antifa and those extremist libtards is who I'm totally against, also hate the extreme tea partiers.
I'm libertarian so I'm for individualism. So while I agree with everyone who posted in this thread as I believe individuals have right to say whatever the fuck they want. Just as I did. If someone thinks I'm an asshole, I support their opinion 100 percent. If someone hates me or wants me dead I support their opinion 100 percent.
Individualism will always be better than any form of socialism