This process is basically famous people taking money from stupid followers and giving it to scammers in exchange for a cut.
I feel a little bad for people with blind loyalty that will lose money, but hopefully they learn their lesson.
I feel a little bad for people with blind loyalty that will lose money, but hopefully they learn their lesson.
"If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it." -Ronald ReaganI looked up Centra, Stox, Hubii, and while they all look somewhat generic, I don't see any crazy promises, especially to the investors.
From what I see the ICO hype is driven entirely by the investors and the FOMO. Many people missed most of the cryptocurrency exponential rise, and they think it's the second chance.
Skimmed the Stox white paper [1]. Its Risk Factors (page 49) seem like an honest if deficient effort. They gloss over important factors, e.g. conflicts of interest between the founding team and the investor or any disclosures regarding Stox Ltd. (who get 27.5% of the tokens "to bring strategic partners to the Stox ecosystem, and as operational reserve").
There also seems to have been little effort to restrict these sales to accredited investors [2]. Besides being illegal, I doubt an accredited investor's lawyer would have signed off on the Risk Factors as presented.
[1] https://www.stox.com/assets/stox-whitepaper.pdf
[2] https://www.investor.gov/additional-resources/news-alerts/al...