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Comment by aey | Hacker News Reader

SEC is blocking their launch. On the face of it, telegram has been complient with the SEC up to now and have filed exemptions for their sale.

https://www.sec.gov/Archives/edgar/data/1729650/000095017218...

On their own discounts are not illegal.

I think what’s obvious is that the network is not truly decentralized and depends on telegram and investors expect to profit from telegrams work on the network. So they should probably file an s-1 and follow the blockstack route.

What would have been ironic, is if TON was truly decentralized and independent of telegram than the network would have been launched anyways.

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Read their paper, they stated form the beginning that TON isn't able to launch decentralized. The initial investment to run a node is to high so they can't just put some binary on the net and ask people to run it. They planed to run every node in the beginning to show that it works and then everyone can join (with no control over who joins) but to join you have to have GRAMs so by stooping them to distribute grams they basically made it impossible to decentralized. Although they could still give out GRAMs, start the network and just ignore the SEC. Technically the network would decentralize over time but for that to happen there must be a market for GRAMs. Who's gonna obtain "illegal" GAMS to run a node and get paid with "illegal" GRAMs which can only be sold "illegal" again. And even people would do the services on TON are meant to be used by the masses if they can't simply buy GRAMs the whole thing can't fuel itself.

>I think what’s obvious is that the network is not truly decentralized and depends on telegram and investors expect to profit from telegrams work on the network.

This matches exactly the concept of collectible items. In fact, there's a blockchain based TCG: https://godsunchained.com/.

Is the point of the card packs not in large part speculation? One card apparently went for ~$60k, and there is a discount being offered for early buy-in.

Eh, magic cards have independent value from the company, and MtG sells them at a fixed price to consumers.

If you want a decentralized TON, get all the investors together and launch a genesis block with the open source code. That’s basically what EOS did.

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