Hidden History of SEC and what Blocking ICOs means for You
In the early 1900's, when stock exchange was on its adolescence, snake oil salesmen flooded the streets and sold crap stocks to the masses. Obviously the gullible masses went ballistic when they found out they've been duped.
It was then our humble gov't decided to intervene (as always) and created the SEC (in the 1930s). What it intended to do was "protect" the middleclass, because they were the ones who were mostly targeted.
- The wealthy class weren't really affected because most of them understood what they are buying (and a bunch of them owns the companies providing the stocks lol).
- The poor neighborhoods weren't really visited by parasitic salesmen.
- So the prime targets were the middleclass.
But what happened was actually the opposite. It created a bigger gap between the Rich and everybody else. Let me explain.
To lessen the supposed "targets," the SEC declared that only the 'rich,' who have better understanding of what they are buying, are the only ones who have access to the good stocks. The rest of us have only access to the crap or 'cheap' stocks so we don't go bankrupt.
According to the SEC, only "accredited investors" are able to buy prime stocks. Stocks that actually make money. And to be an accredited investor, you have to:
- have a net worth greater than $1 million. And primary residence is not counted as an asset in the net worth calculation (Contrary to what your real estate agent told you, your house is NOT an asset, it is a liability. Sorry.)
- You must have an income of at least $200,000 in each of the two most recent years (or $300,000 together with their spouse)
So, as I've mentioned," only accredited investors have access to the prime stocks. The rest of us, get crap. If a certain "stock" is available to the public, that means that it has already been picked apart at "prime rates" by the wealthy, and the public is left with a not so good price.
IMAGINE A ROASTED PIG:
Imagine the wealthy picking away the yummy parts... all the bacon, ham, loin, spare ribs... GONE! And what's left for you are the bones and the hooves.
But they really knit up the crap parts to make it look appealing to the masses.
But, as you know, there are two kinds of public:
- The well researched public, who did NOT succumb to parasitic salesmen. They got great earnings from good stocks.
- and the gullible ones who bought from the parasites. And got screwed. Big time.
I can understand back then that information was harder to come by, and a lot of people got duped because of that. But now, in the age of the interwebz, we have all the resources in the world!
So now with the SEC... the well-researched public does NOT have access to the good stocks anymore. After the SEC was created, the gap between the rich and the rest of us, soared even farther away.
SIDE NOTE: Obviously, a broker in denial will refute this. But think about it, if a broker promises you a stock that would make you a millionaire, WHY DID HE "NOT" BUY IT HIMSELF??? Why does he need "you" to buy it? If he doesn't have money at the moment, he would have advised this "secret million dollar stock" to his closest friends and/or family. Yeah... awkward.
Disclaimer: the 'rich brokers' brokering to 'accredited investors' are probably legit. But if a broker is like you, struggling with bills and mortgage too, selling leftover stocks, then red alert, something is up.
Now back to the main topic.
HOW SEC BLOCKING ICOs AFFECT YOU:
Cryptocurrency is a game changing technology. It is decentralized, so it completely bypasses SEC's C-blocking of you. For the first time ever, the general public has access to prime investments like Bitcoin!
Yes! Great investments (like bitcoin) have only been available to the rich, but because of its decentralized nature, it has completely disrupted the investment industry!
But because ICOs AREN'T decentralized, the SEC got their grubby hands on it. And in the age of the internet (where information is vast and available), the ones who know what they are doing, and have researched ICOs they want to invest to... CAN'T!(Atleast in the US)
Now we are back in the age of SEC C-blocking us (at least in the ICO part), and have no way for US citizens to jump on the early train.
Yes, some people are still gullible and will fall for parasitic ICO salesmen, but the "nature" of decentralized technology is "ownership and responsibility." You! And you alone are responsible for keeping your coins safe.
You alone are responsible for researching ICOs you are about to invest into. You have a super-fucking computer in your hands (smartphone, desktop, tablet, laptop etc), appreciate the vast power this interwebz has given you... now take ownership and be responsible!
The public is ready to research and buy their own ICOs now... without the SEC C-blocking us. The time of the SEC is over. Decentralized technology is here. The SEC is becoming obsolete. They need to accept that the power is now back in our hands.
Please upvote me...
Please follow me...
Thank you!!
Images from toonclips