Second Suit Filed As Tezos Woes Continue


#1

The woes of the erstwhile Tezos ICO have continued, as a second suit in as many weeks has been filed against the company. Again, the suit is filed as a class action, though this time in Federal District Court in Florida.

The filing makes clear that the ICO was indeed an offering of a security, though the company did not undertake to receive SEC approval for the issuance of a security, nor did it seek to vet all investors as ‘accredited’ according to the SAFT. According to the filing:

"Notwithstanding the defendants’ attempts to avoid governmental and private scrutiny, it is clear that the financiers were indeed profit-seeking investors in a security and that Defendants promoted and conducted an unregistered offering of securities, not a charitable fundraiser.”

This suit falls in line with the first filing, filed earlier in California, which claimed that the Breitmans and the Tezos team were truly offering securities to their investors, and sought to mislead them regarding the nature of the investment. The total number of plaintiffs in the class action is not yet known.


#2

I am wondering how many people have joined the second lawsuit against Tezos? Will they achieve what they want?


#3

Sorry for wasting your time repporting


#4

Doubt it. Court dates can take awhile to set and even then the lawyers need to show a loss for their clients. Futures still trading above ico price. I wouldn’t be surprised if tezos releases prior to any court date. Then these ambulance chasing lawyers will disappear and their client’s will be stuck with a large bill.


#5

In general, I agree with your statement, I just want to emphasize on this statement below

Many people on this forum agree and enjoy that court dates can take a while, but not so many people realize that for Bitcoin it does not take so much time to grow. Always measure these two factors - Bitcoin factor of grow and Tezos time to market.

Bitcoin has been growing with enormous speed since Tezos ICO. In fact, Bitcoin was 2500$ or something when Tezos did have their ICO. Today it is 8000. Almost 4 times higher.

By February it may reach 25k or 30k. I know it may seem unrealistic, and some people on this forum even laugh at me because of that. But, we all have to cry rather than laugh, because Tezos won’t be able to return your money invested on ICO day. Most likely we all will lose our money and will lose seriously. In best case scenario we will be able to get it back.
And this scenario is the following :

At ICO date Tezos cost about 35 cents if I am not mistaken and Bitcoin was 2500$ or something. I am more than sure that Bitcoin will be at 25k by Tezos launch, means Tezos price should be at least 3.5$ just to get your money back.

Not sure if Tezos will rise that high, even if it does, anyway it is a loss already. Think how many forks you have missed by holding this Tezos. You’ve missed Bitcoin Cash Fork, and now BCH is 1200$. You also missed BTG fork - and it is 200$ level now. So the loss is huge, assuming you were investing in Bitcoin, not Ethereum.

I regret that I believed that ICO. It was the biggest ICO ever, but it was the worst ICO ever as well as it turned out.

I am planning to sell this coin on day one and forget about it. Because it will tank quickly. On day two it will be seen - there are many people like me out there, who hate this Artur, and I don’t care what Tezos optimists are saying.

The Tezos deep dive on day one will be my best proof of this theory. No one is going to hold this coin. 2018 is a year of Bitcoin - everybody will be switching their gears to Bitcoin.

Unfortunately, we can’t have so many winners as everybody wishes.

I’d rather believe in EOS, not in Tezos. EOS team has a brilliant developer behind it, who has proved multiple times himself. And this teenager Artur will be promising and be telling you his new stories.

But the point is - we can’t have many win-coins in 2018. 2018 is going to be a Bitcoin year.

And worst case is of course - the price of Tezos will be so Low at Day 1, that it won’t justify your BTC investment in it. In that case I will be holding and become a bag holder… People who did not invest in ICO will be better positioned at Day 1 than us, who did invest. How crazy is this?


#6


#7

Thank you, man.

Now we know how do you like ) )
Dull boys like you are always using abusive pictures when they can’t argue. So this is your picture.


#8

Abusive picture? that’s you man. Go tell the mirror your Tezos troubles.


#9

You are the typical bag-holder. I am glad you have uncovered yourself ))

Who cares. If you don’t like - just don’t read. If you have zero brains and can’t argue - just disappear from this page. It is not for you silly boy.

Go to a sandbox where children posts pics. This is for you


#10

Your boring posts deserve a pic for a response. You add nothing but negativity and boredom.


#11

this is what life is about.

Everybody deserves to express their thoughts.

half of the country did not like Trump, but who cares - he won despite everybody was saying he is boring

So go to another page and be happy there. A page where only a positive news about Tezos exists

My posts are read by many people FYI


#12

So you take pride in bringing despair and depression to this situation? pretty sad life you live. Maybe you should run along. I’m sure you will have the opportunity to get all your btc back. If you feel depressed tell it to the mirror.


#13

@labeoTairovo
1st rule of trading : never invest more than you can loose

"Not sure if Tezos will rise that high, even if it does, anyway it is a loss already"
My friend, you invested in full conscience that you can loose your invest. So seat back and look for positive newsfeed. If you want to sell on first day I am sure you will loose your investment.

Crypto token are loosing value at 2 stages : when networks goes lives because a lot of people jsut want to make cash like you (as I understand it was your leitmotiv) and after the ICO when doubts are coming. this is my analysis…

Yeah we can still debate here, but you constantly can’t understand that now you have two choices :

  • sell after launch and loose a lot of money (compare to what you could have earn with participating the ICO, because with simple ROI it is still a good investment)
  • consider your investment lost totally and wait that network being used by people

It’s up to you


#14

@baptiste343

That’s the point. They are not coming. So far we haven’t seen any positive news about Tezos in any mainstream crypto media. Some people saying Artur is doing some video on youtube or whatever, but many consider him hiding behind some private youtube channels because - there are no hard questions there.
Should he go for an interview for any mainstream media like Cointelegraph or Coindesk , etc he would be getting serious questions from industry experts.
In fact, they are willing to give him a word, but he is hiding from them as well as his wife who is the CEO by the way and her only role was PR and communicating press. They both are hiding from serious questions because it is much easier to fool true Tezos believers rather than experts. Believers will believe whatever Artur is saying and experts are questioning his statements, especially those he did in the past.

So, yes. I was sitting quiet and was waiting for positive news for 3-4 months. They did not come. Now we just need to realize they are probably not coming anytime soon. I don’t think Tezos will be released in February - it was another joke from Artur for true heart believers. In February he will announce a real Launch date only


#15

Price of BTC and everything else you said makes no difference to the technology of Tezos. I think one point is clear to me based on what you’ve said, and that is you should not have invested in Tezos.


#16

Agree. I do regret so much about my decision to invest.
I could have done much better by not investing, means simply keeping my BTC untouched.
Looks like I am not the only one.
More and more people will regret over time


#17

Go to church bro! I assure you, God will consider your case.


#18

Let me add that no one having contributed to tezos will ever regret it unless the network never launch! The weeping of the feeble-minds will be justified if the network fails to launch…but all the noise making right now are coming from trolls.

Lets do a little maths:
The troll if he ever have contributed, assuming he contributed 2 BTC = $16,000 current btc market price today 21/11/17 06:45:35 AM (my time zone).
If Tezos is launched today and come up $1.5, and the troll is lucky to dump at $1.4, he will have: $1.4 x 12000 XTZ = $16800
So his bitcoin is back. Am taking the highest possible launch price while if less, the perceived loss is insignificant. If it launches more higher, their mouth need be broken for all their trolling efforts!!!


#20

Price dip as a result of dump is not launch price, but a depreciation of price as a result of excess supply. Think you will understand this. So a feeble-mind may be lucky to dump at launch price while others get lesser values. This is only obtainable if your:

statement is true, which i doubt so much.


#21

@Mitezos
Thank you, bro, for calling me a troll. I decided to reply you and others who will be calling me a troll
FYI troll definition could be found here - https://en.wikipedia.org/wiki/Internet_troll

To my mind, I am not doing any of those above. I am just trying to find out how many people still satisfied with Tezos project and how many are not.