Steem Engine Tokens Aren't for Everyone
@taskmaster4450 published a post about steem-engine tokens opening up equity to everyone:
https://www.palnet.io/tokenization/@taskmaster4450/tokenization-allowing-us-to-buy-into-entities
That's true, but I am taking the other side here. Yes, the SEC is a corrupt institution. Yes, these rules infringe on the liberty of free association. That's all correct.
But it's also true that people without experience with money often make terrible decisions on investments. I could tell you story after story from my clients and hare-brained ideas they had or scams they fell for.
Accreditation and sophistication limitations are rules that do more good than harm in my opinion.
▶️ DTube
▶️ YouTube
0
0
0.000
The sad truth a majority of people are not good with their money
It's true, and we can prove it is true by looking at the state of monetary affairs.
It's not like the ways to build wealth are a secret. Thousands of books have been written, millions of hours of video have been recorded, and people who are rich talk about it all the time.
But the fact of the matter is that the activities for building wealth are contrary to the normal human instincts to consume. In evolutionary terms, it made a lot of sense to get while the getting was good. Make hay while the sun shines and all that.
In money terms, that's the exact opposite of what you should do.
It is very difficult for people to overcome their instincts this way, which is why so few are successful.
Very true, it's actually rather easy to make money. Stop spending it and start investing in low risk. It won't happen overnight but u should start right now.
Posted using Partiko Android
Exactly!
$rewarding 30
I understand where yoi are coming from however most people that are good with their money got there two ways. One by failing and learning and/or by researching.
Freedom, true freedom, means risk. It is the job of those that are making the decisions and tgise in our community to help and guide. Saying that massive oversight is a good thing is just wrong. Regulation actually lead to the 2008 crisis where banks were pushed not to red line by the feds. By using sound business practices and by helping others with information more will rise up instead of not being able to compete due to regulations.
Sure people will still screw up and there will still be bad people, but more freedom is always a better system.
Just my view appreciate ypur post.
The rules don't have to come from the SEC and all that entails.
I'd rather see token creators be responsible and enforce those same rules voluntarily.
Oh I agree, but even with that my main emphasis is on education of those interested. Too often personal responsibility is pushed to the side (token creators and investors) and then when things go to crap everyome wants to point fingers. We makes the decisions and we are to blame if something happens. Question all and trust your decisions but know the risk. Thanks again!
Posted using Partiko Android