It seems to me that the SEC did this intentionally. Now there are a large number of scammers in the crypto industry, so why did they turn their attention to TON? Maybe because they're afraid they won't be able to control it?
Never saw a more delusional community than this. Kin is a security created to save Kik from bankruptcy and you guys fell for this scam. It was obvious than Kin is a security and Ted admitted it in a conference years ago speaking security-like language. You can believe me or not, but reality hits hard. It's a dead end.
Don't attack me, you're supposed to defend Kin. You can't, of course, as there are no arguments because Kin is a dead end.
On the other hand, I've managed to reap a x3 profit from PNK, which is way more than you will ever make from your fake security. You need to get over Kin, stop laughing at other people's success, and look immediately for other investment opportunities, there are many. Good luck.
the suspense is real. we are in an epic battle. I really hope the SEC doesn't force this innovative project (Kin) to come to an end. It really isnt just about the investors making money. Its about unleashing a new monetization model that can change the world.
Seems like the SEC want to control all things coming out of the Cryptosphere at inception. Any reasonably sized centralised entity that may challenge the established world and the US hegemony - they are looking to close down before release. Will they play damage control if Kin wins and declare it already decentralised so as to maintain the above stance.
funny all them big crypto projects get denied and yet all of them laughed at kin for defend crypto fund, if they just had supported that fund, prolly would have helped themselves. One problem of crypto is the projects are not really united. If kin wins vs SEC it will have a massive impact on kins usecase. Lets cross fingers otherwise you see what happens when the SEC crushes you
"I want to conclude this post by wishing luck to all those striving for decentralization, balance and equality in the world. You are fighting the right battle," he wrote. "This battle may well be the most important battle of our generation. We hope that you succeed where we have failed."
Yep. This is dumb. They have too much power inside and outside of the united states. Telegram cant sell their tokens because some Americans **might** get their hands on them through an informal secondary market?
We really need congress to change the laws, because this cant be allowed to be acceptable anymore.
I'm sure Kin having an established ecosystem means Nothing to the Judge, I'm sure Ton had something going for it as well, since many on this reddit would frequently prop it up as this serious KIN competitor, now there gone. So if the Judge didn't care about a Billion Dollar ICO, why would they care about Kin's measly little eco system.
Im not sure... they can act against KIK, for example with a fine, but I can’t see the way how they can do anything against the other ecosystem participants: “secret” nodes, devs, users...🤷♂️ just thoughts.
KIK is currently buying $100,000 of kin every month on the open market. The current value of kin that the KRE disperses every month is about $46,000 at current prices. This one buyer will give upward price pressure for Kin till at least a doubling of price from where we are. Also with Kin Ads buying from the open market we have yet another buyer. I don’t know how much they are buying but I’m sure we will see that ramp up over the next few months.
I agree with you, all I hope is that they don't do to KIN what they just did to Telegram even if KIK loses, as long as after the court case it is made clear that KIN today is a CURRENCY. Because as I understand if KIK loses that means KIN is a Security and will have to register, which means game over. Some say Kin/Kik are different companies and the SEC is only after KIK because they didn't register there ICO with them initially and has nothing to do with KIN...That is the debate no one seems to know for sure and I don't either lol, anyway I wish you luck KIN Family take care.
No. TON was a cash grab from the beginning. They had no explanation for creating other than making money. It had no use case, you couldnt spend it on anything, no ecosystem, just a billion dollar ico that would’ve ended in a pump n dump.
Not really buddy. It s the other way around.
This is a great opportunity for Kin. Remember, Kin foundation and Kin Interactive are two different businesses. KIN, the cryptocurency is managed by the Kin Foundation. Not Kik Interactive Inc. Kin the cryptocurency is here to stay even if Kik Interactive looses against SEC and go bankrupt. This is what most of people don't understand on this Reddit forum.
This means KIN is the most evolve large scale projects out there, and it means that big players like telegram can adopt KIN for their platform... These are amazing times for Kin.
> Remember, KF and Kik interactive are different businesses
Kin Foundation has no employees and is just a holding company for the KRE.
> kin the cryptocurrency is here to stay even if kik Interactive loses
Of course kik is in it for the long haul, even if they lose
> or go bankrupt
You're 100% wrong on this bub. If Kik goes bankrupt 100% of the employees working on Kin no longer have jobs.
No... want proof! Go read court documents and show me where they mention the Kin foundation
Want more proof?? Go search in the Canadian business registration. You will find two businesses.
One is Kik interactive Inc. Who is being sued by the SEC
The other is a non profit organisation called Kin Foundation.
Now, if you re too lazy and too much of an idiot to find these, I can share them with you here. And I ll be glad to show you how wonderful your brain is unfunctional
This is very simple. Kin has already been released. It's out. The SEC no matter what they do can stop it now. Telegram wasn't released and that's what the courts stopped today... KIN has already won. They can be fined / they can be hurt, but they can't die. Think about it....
You can’t stop person to person transactions or earning KIN through App ecosystems. Think bigger and longer. You’re not wrong but you’re also ignoring the simplicity while assuming the best outcome is the only way KIN can grow.
Kik messenger app, owned previously by Kik inc, was sold to MediaLab by Kik inc. . Kik Inc requires MediaLab to purchase at least $100,000 worth of Kin on the open market, monthly, per the requirements of the sale. Kik Inc created the cryptocurrency Kin and the Kin Foundation.
Kin Foundation/Kik Inc employee(s) MANUALLY distribute(s) weekly payouts of billions of Kin to developers, currently.
Based on exchange volume, the majority of the Kin payed out to developers weekly is bought back by MediaLab, that developers sell.
Kik Inc/Kin Foundations still holds trillions of Kin, that is provided via KRE and other methods, at least weekly, to mostly be bought back by the same holding company that they sold their main app.
These are some of the reasons why the SEC feels the entire thing is just one in and of the same - even currently.
I wonder what happens to the 3T Kin that Kik owns if the SEC wins? They were seeking disgorgement and Kik to no longer do crypto currency business and other things. Coin burn or KF gets them for the KRE, et al.
Everything is managed by the Kin Foundation. Kik Interactive Inc does not have anything to do with Kin Foundation and its crypto KIN.
SEC is suing Kik Interactive INC for not having registring their Initial Coin Offering (ICO) with them.
Thats it thats all. It does not have to do anything with the Kin Foundation. Go read the court documents. This is damn clear.
I just can't understand how people confuse both companies all the time. It's pathetic.
Kin is here to stay forever and it's twelve million steps ahead of any crypto projects. Once people understand this, KIN value will explode.
Sorry but this is just plain wrong.
One of the key reasons in defending the case is because KIK received money $$, held in bank accounts which it may be forced to give up if it loses the case. Also the entity holds 3T tokens. These are not the same tokens the KF manages for KRE.
You didn't understand what I was trying to say. Total supply is 10 trillion. 6 went to KF, 3 to Kik Interactive and the rest to the SAFT and TDE. If Kik loses, what will they do to the 3 trillion Kin they own? I understand KF is not part of the lawsuit so that 6 trillion is unaffected.
Where do you see a bag of three trillion KIN's here? I don't see it. [https://etherscan.io/token/tokenholderchart/0x818fc6c2ec5986bc6e2cbf00939d90556ab12ce5](https://etherscan.io/token/tokenholderchart/0x818fc6c2ec5986bc6e2cbf00939d90556ab12ce5)
"Sadly, the US judge is right about one thing: we, the people outside the US, can vote for our presidents and elect our parliaments, but we are still dependent on the United States when it comes to finance and technology (luckily not coffee)," - Durov
I'm honestly saddened that the Telegram didn't stand up to the SEC.
Are you for real?! Asking BILLIONS of dollars for a fracking crypto project?! I could pay 2 dudes in their garage and they would do the job! I doubt it will cost me more than 1M + 100 bags of Cheetos! These guys are scammers and they got what they deserved!
Don’t disagree with you that the project was way overvalued, though I don’t think that’s the SEC’s job to decide who lives and who dies.
For better or for worse a lot of crypto projects run on hype until they can do something meaningful outside a white paper.
The SEC issued an injunction against Telegram to stop them from issuing Grams. There had been no such injunction against Kin. It is possible that Judge Hellerstein could rule Kin a security but I would say that that is unlikely due to the fact of the ecosystem being up and running and the harm from any such injunction would be greater than the issuance of unregistered securities, if they indeed were.