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Used it to raise money
AC1, I would love to hear more.
They literally just raised 15m or so to be in their fund. It's totally a security which is why it doesn't really trade. And the movement of the coin doesn't really correlate with their return so it was the ultimate fucking. It has underperformed ether significantly. Literally robbery.
No. What's the purpose of the coin?
Yeah. I don't invest in projects where their token doesn't serve a practical purpose
The coin functions somewhat like a mutual fund in the sense that it represents a portion of investment in many Bitcoin and blockchain technologies.
I can't seem to understand the legitimacy of the platform it trades on (liqui.io) or the terms of investment. It seems like cashing out of the coin might result in weird taxes/penalties. Any info on that would be great