SEED Fund is Dead for Investors and It's The Government's Fault
Governments are made of humans that are on average, worse than regular people in most metrics. They have a monopoly on violence and little to no skin in the game when it come to the economies they manage. Citizens cannot easily switch their government the way they would switch a company they don't like. This gives government a certain monopolistic power over most of its citizens and the corrupt and/or idiotic people that are making the decisions keep everything difficult to the individuals who are neither corrupt or part of the lucky/privileges ones.
When Was The Last Time You Though The Smart Kid in The Class Would Run The Country?
Most of you will answer with a "Never!" without taking any time. You expect the smart ones to go to NASA, CERN, TSMC, Microsoft etc. Under democracy, those who can convince most of the population through whatever the means get the votes and these corrupt and/or idiotic slimeballs come up with many excuses to destroy individual freedoms.
Investor Protection Does More Harm Than Good
You will never change my mind on this. Adults can make decisions with their own finances and they can take responsibilities. That is the whole point of being an adult. We don't need a government that play Mommy or Daddy. We need a government that serve! How often do you feel like a person at the restaurant or shop serve you? How often do you feel that about politicians? Whenever you don't feel like they are not serving you, there is a problem.
SEED Has Closed
I was not seeing SEED Holdings Reports for some time. I trust @empoderat to do an excellent job and I was not even slightly concerned. I was in for the long term with SEED. I had wanted to buy more, but could not do so because finances were not that great during the bear market. At the end it turned out to be for the best. A fund that I wanted to be a bigger part of had to close down due to absolutely no fault of anyone involved.
We invested knowing exactly what we are getting into and the transparency was several orders of magnitudes above what is presented in the traditional banking and investing schemes. The portfolio could be tracked at real time visiting this link which has now been deactivated.
I'm Looking Forward to The Future
@empoderat is a great guy who could have made many of us massive profits (bigger than fund managers of TradFi) and the venture had to shut down because of some government goons were making things harder for individuals to take risks and make money.
We need better technologies and cryptocurrency and DLT can help us usher in a future where individuals can hold the keys (pun intended) of their financial freedom. We need more decentralized technologies that are not dependent of centralized points of failure.
The unfortunate end of SEED arrived and I have sent the little SEED I had to @seed-cold for a refund. It is a sad an disappointing end. SEED could have been so much more. Thank your for what you managed to get done in this short journey!
$HIVE Itself Could Innovate
What if there was a HIVE second layer that allowed users to pool their resources in a way that work similar to a fund. An experienced trader could make the trades on their own and pooled funds of investors would copy the trades and pay a fee for someone like @empoderat for the privilege of using their financial skills. Now imagine this combined with zk technology.
What I present here is not novel idea. I have seen both centralized and decentralized projects attempt similar features. What HIVE offer is a superior Layer 0 with an amazing and intelligent community. A trader like @empoderat or @khaleelkazi may not have the time to set up smart contracts. If there was a service that simply allowed experienced traders to set up a fund in few minutes for investors to join in, it would be a heavenly blessing for many HIVE users.
Keep Calm and Keep Moving Forward!
Posted Using LeoFinance Alpha
Wow, already been a month since that post.
It's sad but it is as you described above, government kills innovation because it goes against its own interests (but I understand that). You either go full private from the beginning or get ready to go down the bureaucracy nightmare hole.
Hey, at least managed to get everyone out at a small profit after 2 years of a massive bear market.
Opportunities will come and go. SEED hasn't been an exception.
Thanks for the kind words :)
Ps. your refund is already in your wallet
Wish you the best for the future!
The way we're seeing it right now is that the governments of countries all over the world are making the cryptocurrency business very strict and it's not doing it right because people have a lot of trust in it and People want to do this work, here in Pakistan, it has not been made a legal yet. If the government understands what it is, there are many countries that are poor like Pakistan, then their debts can also come down comfortably.
Poor countries have the most to gain from cryptocurrencies. It is their change to get their foot into becoming a developed nations with strong economies. Yet most of the corrupt idiots running these countries ignore cryptocurrencies or even go as far as to demonize it. The best we can do is the build payment networks and DAPPs and get as many users as possible into cryptocurrency. That will make us too big to shut down.
!PIZZA
!LUV
!CTP
Now, the way the news is going here in Pakistan since yesterday that the government has banned cryptocurrency, this kind of news was break a few years ago, but the people who are using it continued to do so.
Thanks for the news! I just sent in for refund. Hope there will be another fund that's not gonna get REKT because EU regualtions!
$PIZZA slices delivered:
@vimukthi(2/5) tipped @djbravo