Why haitch verified Kids for issuing assets? or its any misunderstanding going on!!
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@Castiel The thing is that we are making history since this kind of problem has no precedents, so we need to figure out what is that we going to decide as the communitty we are... @nixxda and @iKnow0 created two different posts to collect opinions from the communitty in order for us to reach a conclusion of:
- What is the maximum age we are considering as a minor will be, here in the forum ->https://forums.burst-team.us/topic/4442/poll-age-verification-for-asset-issuers ;
- New guidelines for Asset promoting around here -> https://forums.burst-team.us/topic/4434/draft-code-of-practice-for-issuing-assets .
So please all consider those 2 posts, in order to contribute to the decisions that have to be made facing this problems...
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@Castiel its big explanation actully you can check it on google is better why its illegal, in general simple words- Kids all mistakes are forgiven because they are kids they are at learning stage they do mistakes and learn they have no experience , its matter of many people hard earned real money its a big responsibility to carry not a thing kids play with so maturity required!!
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@Castiel nothing is illegal in crypto!-) If a kid wants to grow his "selling Lemonade on the street Businesses" into a multi k venture he can do that!
But I think that Investors need to have a possibility to know that he or she is a minor! Those kids could possibly generate a lot of dividends and Investors will trow tons of money their way and therefor put more responsibility in their hands that they can handle!
So for me "knowing" would be a bit of protection both ways. Maybe even a reason to invest some in the first place!And getting verified is a good step to get out of total anonymity and build some trust. Also having some guidelines for Asset Issuers is a good way to crosscheck for both parties!
I'd really like the thought of not enforcing but strongly encouraging people to some Rules or guidelines!-)
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@Lexicon said in Why haitch verified Kids for issuing assets? or its any misunderstanding going on!!:
i reckon the question is completely valid. i thought we didn't do censorship here.
can you clearify this statement .. you are the second post and it only confuses me as to why it was said. I respect you and your opinion. I also think you are very important to the community. Just looking for clarification. also might be why i saw someone said you were blaming H for something.. unfortunate we have this type of dynamic going on but i think it is very common with any crypto community over time. definitely not a great idea to lead off with that type of comment. unless trying to ruffle feathers.
@everyoneelse ... it is your job to invest responsibly not @haitch of either forum. When you invest in a Stock or Mutual fund do you not do your research? There is no way to stop someone opening an asset underage. There just isn't anyway. The badge is just the first line of defense and anyone can pretend to be their parents. I deal with it all the time on a retail level.
If you dont invest responsibly it is just a bad gamble..
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@nixxda nothing illegal yet. its not governed by a central authority however. if said authority's learn of a great many children accessing this kind of resource. there's more of a chance its going to have age specific safeguards.
im pretty sure when alcohol was first invented there were no "laws" then either but did that make it right? probably not.
chances are if a body does see this situation or a court for that matter they will treat the situation as owning normal shares. where by you cant if your underage.
now we need to ask ourselves do we stand the moral high-ground and implement a process to protect minors and asset issuers from a potential big mistake. id say i would rather do this.
ive noticed on nixxda's thread that a few of the people voting for the no limit are minors (rapidfire being one even though his dad told him he cant continue he still thinks there should be no age limit or parents consent) will the results be vetted for this sort of activity. cause with the burst coin being advertised to the gaming community there are a "lot" of kids coming into burst. and they could out number the adults here as its in there best interest to vote against it.
@darindarin by censorship i meant its a topic that needs to be discussed because theres loads of investors that would of wanted to know this information. most of which did their dilligence but becasue finding someones personal info out on the blockchain is pretty much impossible. theres no way they could of known
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@Lexicon did anyone say it shouldnt be discussed? before you posted that? sorry not sure it answered my question. are we reading two different forum posts?
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@Lexicon also blaming the entire forum for one persons opinion might be considered niave to some.
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@darindarin yes basically this comment here "@dvndr007 I beg you, take your question somewhere else! We are sick of this cheap plays."
im saying the question needed asking to prompt the community to look at this issue. and rather than telling people to go away we should imbrace the question and get down to the detail and sort the misunderstanding out
i didnt see anyone blaming an entire forum when the process didnt even exist.
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@Lexicon i cannot find that at all..maybe that is why i am confused to why a very intelligent important member would sound so condescending..
i also do not think this person is a admin or has any control to group him into that statement.. just an observation not trying to argue with you.
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@Lexicon said in Why haitch verified Kids for issuing assets? or its any misunderstanding going on!!:
i didnt see anyone blaming an entire forum when the process didnt even exist.
Sorry i am confused. You sound upset.. if you like we can go to private messages.. ?
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@Lexicon all i mean is that by you saying .. " i thought we dont do censorship here" in regards to a non admin concerned post seems like you have a bone to pick with someone.. i was surprised you said that and the only reason for me asking you to explain is because i look up to you.
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Lol.. how my sentence was diverted into different subject very far away from its meaning :D
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@darindarin i dont have time to explain snippets of a conversation, but in essence people shouldn't be told to "go away" for posting there opinion. its as simple as that. people are perhaps taking it a way that wasn't intended. and whats frustrating is i barely have time to work on my own projects however here i put one sentence and it gets pulled a apart and repeatedly roasted for it.
i wouldn't say i was showing an attitude of patronizing superiority (the definition for condescending). more of the fact im showing that i support freedom of expression.
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@Lexicon you are the second or third post on this thread.. before you there is nothing that says "go away" am i wrong? was it deleted? that is why i think we are reading two different things.. also you know this person isnt an admin or has any controlling permissions so yes i will stick to my word that it sounds condescending or that you have a bone to pick...
you are smart enough to know that this person isnt to be generalized as " HERE" which you offered as a response earlier.I took offense to that and i am only a member as well.
also.. thank you for the definition of condescending but that is not what i needed explained.
If you are referring to me roasting you repeatedly or pulling your statements apart.. that is not my intention. i have stated how important i think you are and how much i respect you. I own your assets and I was extremely interested as to why you said that..
if you cannot handle this i will refrain from asking you questions again but i do beg you to have thicker skin in the future.
please do not hate me for questioning your words you can question mine all you want, in fact i welcome it.
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This post is deleted!
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i wasn't generalizing any person by saying the word "here" i was saying that this forum is usually open for discussing any topic without censorship which someone else mentioned a few days back on this forum in regards to burst-nation heavily censoring its content. and i believe this forums should stay uncensored. the sentence is being looked into to deeply when it shouldn't
with how many times ive said this and the amount of times ive had to make a post saying it was taken the wrong way. it feels like im being trolled so you could understand why im being defensive. generally my skin is quite thick. but when it comes to having to explain every word in a post ive put several times. it becomes hard to ignore that
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@Lexicon after re-reading several times i found your reference post.. i apologize i didnt mean to give you a hard time.
i have had simple posts deleted on BN to the point where i do not enjoy even reading.. oh well.
hope your night gets better
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I'm in no way belittling anyone but,
It may not have been a good idea but I think that is as far as it goes. I think @haitch should make it a requirement and be done with it. Also, don't be a lemming with your investments. Research and research some more. If you made a risky move, take it as a learning opportunity and move on. If you are uncomfortable with investing into shares/assets/tokens/pixels, then you shouldn't be buying them. I've lost a bit of coin in the past and you don't see me complaining about it. ;)
I also don't think we want big government to come in and start regulating if we officially label these as investment shares. Which may happen soon as the US IRS is seriously looking at crypto. Which is scary because if they do, they most likely will not just look at the current year for info. They'll look back into previous years as far as they want. And if the US moves on it, I'm confident other countries will too. Gotta get that money!
Also, the US sees minors in a different way. They can be tried as an adult. Especially, if it can be proven they committed a crime with intent to harm.
Anyways, that's my opinion.
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i think @haitch as the forum owner should varify people to allow them to advertise hear and if a minor wants to then they should have a parent or guardian concent with varified info as well to ensure they are fully aware of what the minor is involved with, as long as that is done i dont even see a reason why @haitch should have to label them as a minor in his process. shure it's tec more risky to invest in a company opperated by a child. but in the end everything is a risk. i personaly have lost 5x more $$ playing at burst casino that all of the scams i got taken by combined as far as the minors i have Made $$ investing with the two assets i hold by them. what it boils down to in the long is a legal issue and @haitch needs to insure that he protects himself and this forum from legal blowback, by covering the parent/legal guardian concent correctly and informing them of what the minor is asking permission for. as for the community sure it may be nice to know who is or is not a minor but as long as they covered any legal issues with @haitch i dont see why it should be manditory to label them as such. and leave it as volintary info
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Luke and cjellis are New Zealand citizens, and as such can setup businesses as individuals known as sole traders at any age.
"How does being a sole trader work?
A sole trader usually has no formal or legal processes to set up the business. The owner/manager is personally entitled to all profits, but is also personally liable for all business taxes and debts."
This statement is from the New Zealand Tax Department. NZ IRD Dept
Although having 16 year olds running an asset is questionable, it's perfectly legal under NZ law.


