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Offline celticwarrior72

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SEC letters being sent. It's not pretty.
« on: October 28, 2014, 12:06:24 AM »

https://coinfire.cf/2014/10/27/sec-begins-sending-investigation-letters/

https://archive.today/pVo4O

I would not want to be on the receiving end of one of these.

These are going to make some attorneys wealthy.
« Last Edit: October 28, 2014, 12:13:02 AM by celticwarrior72 »

Offline Riverhead

Re: SEC letters being sent. It's not pretty.
« Reply #1 on: October 28, 2014, 12:33:50 AM »
Sure will. This to me is how the incumbent system will fight the crypto wars. They won't try to compete they'll just bury everyone in legal quagmire.

I know Invictus has spent a lot of money on legal council. Let's see if they got their money's worth.

Though I'm not really sure who they would arrest or charge in a DAC. I guess they could go after some of the delegates.

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« Last Edit: October 28, 2014, 12:27:00 PM by Riverhead »

Offline bytemaster

Re: SEC letters being sent. It's not pretty.
« Reply #2 on: October 28, 2014, 01:02:56 AM »
Since we have not received anything I can post that we have not received anything.   
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Offline toast

Re: SEC letters being sent. It's not pretty.
« Reply #3 on: October 28, 2014, 01:23:57 AM »
Since we have not received anything I can post that we have not received anything.

LOL.. make a thread w/ daily update
Do not use this post as information for making any important decisions. The only agreements I ever make are informal and non-binding. Take the same precautions as when dealing with a compromised account, scammer, sockpuppet, etc.

Offline onceuponatime

Re: SEC letters being sent. It's not pretty.
« Reply #4 on: October 28, 2014, 01:31:05 AM »
Since we have not received anything I can post that we have not received anything.

LOL.. make a thread w/ daily update

Actually, that's a very good idea. Then we would know that, if there is not an update one day, a letter with a no disclosure rule has been received.

Offline luckybit

Re: SEC letters being sent. It's not pretty.
« Reply #5 on: October 28, 2014, 01:45:37 AM »
Sure will. This to me is how the incumbent system will fight the crypto wars. They won't try to compete they'll just bury everyone in legal quagmire.

I know Invictus has spent a lot of money on legal council. Let's see if they got their money's worth.

Though I'm not really sure who they would arrest or charge in a DAY. I guess they could go after some of the delegates.

Sent from my SM-G900T using Tapatalk

I hope now people understand why I mentioned the gift economy and Bitshares Cooperative. It's not going to be possible to do any more crowd sale IPOs.

I think overall the crypto community will adapt out of necessity.
« Last Edit: October 28, 2014, 01:48:50 AM by luckybit »
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Offline celticwarrior72

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Re: SEC letters being sent. It's not pretty.
« Reply #6 on: October 28, 2014, 01:46:33 AM »
Since we have not received anything I can post that we have not received anything.

Seeking legal advice early was a wise move.

Offline fluxer555

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Re: SEC letters being sent. It's not pretty.
« Reply #7 on: October 28, 2014, 01:59:23 AM »
LOL.. make a thread w/ daily update

+5%
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Offline tonyk

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Re: SEC letters being sent. It's not pretty.
« Reply #8 on: October 28, 2014, 02:05:16 AM »

I did not get that part- If somebody has received a letter, and somebody asks them 'Did you receive a letter?'

 Are they supposed to lie or not initiating the discussion is good enough?
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline Stan

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Re: SEC letters being sent. It's not pretty.
« Reply #9 on: October 28, 2014, 02:32:00 AM »

I did not get that part- If somebody has received a letter, and somebody asks them 'Did you receive a letter?'

 Are they supposed to lie or not initiating the discussion is good enough?

It is a classic variation on a dead-man switch.  As long as one is able to deny receiving a secret order, one hasn't received it.  If one is ever not able to deny it then the absence of a denial carries all the needed information with out violating the unconstitutional gag order.

Quote
A dead man's switch is a switch that is automatically operated if the human operator becomes incapacitated, such as through death, loss of consciousness or being bodily removed from control. Originally applied to switches on a vehicle or machine, it has since come to be used to describe other intangible uses like in computer software.

-- Wikipedia

Developers of sovereign software would be wise to establish such methods of severing any temporary scaffolding tethers that connect them to their autonomous children so that they can passively disconnect from that position of trust should they ever become compromised without being coerced into becoming a source of malware themselves. 

:)

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Offline arhag

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Re: SEC letters being sent. It's not pretty.
« Reply #10 on: October 28, 2014, 02:40:12 AM »
It is a classic variation on a dead-man switch.  As long as one is able to deny receiving a secret order, one hasn't received it.  If one is ever not able to deny it then the absence of a denial carries all the needed information with out violating the unconstitutional gag order.

http://en.wikipedia.org/wiki/Warrant_canary

Edit: But please talk to your lawyers first before doing it.
« Last Edit: October 28, 2014, 02:43:40 AM by arhag »

Offline Stan

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Anything said on these forums does not constitute an intent to create a legal obligation or contract of any kind.   These are merely my opinions which I reserve the right to change at any time.

Offline luckybit

Re: SEC letters being sent. It's not pretty.
« Reply #12 on: October 28, 2014, 03:28:45 AM »

I did not get that part- If somebody has received a letter, and somebody asks them 'Did you receive a letter?'

 Are they supposed to lie or not initiating the discussion is good enough?

Instead of asking people to make a thread why not just analyze the price movements of a certain asset on Bitshares?

If there is a huge sell off of the BitInvictus asset then we'd know Invictus is in serious trouble.
At the same time you could guess if there was a giant price drop in BTSX in general it would be because someone cashed out millions of dollars to prepare a legal defense.

So why not just pay attention to the market?
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Offline onceuponatime

Re: SEC letters being sent. It's not pretty.
« Reply #13 on: October 28, 2014, 03:30:37 AM »

I did not get that part- If somebody has received a letter, and somebody asks them 'Did you receive a letter?'

 Are they supposed to lie or not initiating the discussion is good enough?

Standard answer : I can neither confirm or deny it.

"Neither confirm or deny" does not help us if we want to know if I3 has received an order. Warrant Canary gives us the information we seek.

Offline Stan

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Re: SEC letters being sent. It's not pretty.
« Reply #14 on: October 28, 2014, 03:56:29 AM »
:o  Stan,if than happens,you can say you've ate a nasty animal ----included but not limited to spider,cockroach,bug,snake,slug...

No, that would require me to lie - I'm not going to eat one of those.  :)

Any form of positive communication would show itself for what it was by the forum firestorm that would ensue.  It must be the absence of such communication (which would still cause a firestorm) but, as I understand it, you can theoretically not be required to lie by continuing to make statements that are no longer true.

Your actual mileage may vary.

Anything said on these forums does not constitute an intent to create a legal obligation or contract of any kind.   These are merely my opinions which I reserve the right to change at any time.

 

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