1. Welcome to Elio Owners! Join today, registration is easy!

    You can register using your Google, Facebook, or Twitter account, just click here.
  2. Hate the new look? Click Here to learn how to go back to the old one!

Eliocoin Is Very Puzzling.

Discussion in 'General Elio Discussion' started by TexasTesla, Feb 3, 2019.

  1. mkiker2089

    mkiker2089 Elio Addict

    Messages:
    185
    Likes Received:
    103
    Joined:
    Apr 20, 2018
    Location:
    North Carolina
    I don't think so. Stock is "ownership" of the company where a coin is supposed to be used in the company store for a car.
     
  2. TexasTesla

    TexasTesla Elio Enthusiast

    Messages:
    44
    Likes Received:
    25
    Joined:
    Jan 25, 2019
    Location:
    Houston
    Please explain your interpretation of ElioCoin, which is a security token offering, also referred to as an STO.

    STO’s by definition are similar to a stock, and thus are “ownership” of company assets.

    I’m not following your logic that ElioCoin is a way to pay for a Elio vehicle.
     
  3. RSchneider

    RSchneider Elio Addict

    Messages:
    1,326
    Likes Received:
    1,065
    Joined:
    Jan 6, 2017
    Location:
    Hellertown, PA
    Just remember a few things (I know we went over this a few months ago):
    Google: "Security Token Offering"

    Then take everything you know about Bitcoin or Crypto Currency and throw it out the window. That's something else and since Elio decided to use "Coin" in their name, people think it's a cryptocurrency, it's not.

    Also, tZero is not the first platform on trading STO's and Elio is not the first when it comes to STO's. Do your homework and not be confused or assume something.
     
    RUCRAYZE likes this.
  4. TexasTesla

    TexasTesla Elio Enthusiast

    Messages:
    44
    Likes Received:
    25
    Joined:
    Jan 25, 2019
    Location:
    Houston
    You are correct!

    A cryptocurrency is completely different than a STO...

    STO’s are designed to replace common stocks!
     
    RUCRAYZE likes this.
  5. slinches

    slinches Elio Addict

    Messages:
    968
    Likes Received:
    2,031
    Joined:
    Sep 1, 2015
    Location:
    Phoenix, AZ
    STOs can be a stock equivalent, but they don't have to be. The only thing they have in common is a cryptographically secured token and cryptocurrency-like exchange capabilities. What they represent is up to the issuer within the limitations of financial laws and SEC approval. It could be stock, it could be redeemable for an asset/product, it could be a conditional future repurchase, etc. We will have to wait for the details on ElioCoin to know exactly what it represents.
     
  6. mkiker2089

    mkiker2089 Elio Addict

    Messages:
    185
    Likes Received:
    103
    Joined:
    Apr 20, 2018
    Location:
    North Carolina
    My take on it is that stock is sort of like ownership but not really. I don't get to say what happens anymore than I elect a president. It's probably closer to me electing a pope actually but I'm being optimistic. I own such a small share that it doesn't really matter.

    Coins are even less ownership but are supposed to be backed with ownership of assets according to Byrne. He could be lying though as many things he said have been refuted (people paying more to jump the line for example.) Actual assets and not just the wistful game of stock ownership. If it can't be exchanged for anything then the entire premise falls apart. Given that the coins are only sold to accredited (and wealthy) investors as far as has been announced then it may not be exchangeable for a car but may be more like bonds with an open ended due date.

    I can't be bothered to find more sources as I don't trust the past info anyway but I did steal this quote from a previous post. You'll notice that it contradicts itself. Owning assets is very little like owning shares unless you own a lot of shares. Any less than majority and you really own nothing as you can be outvoted. There's a reason Shark Tank always asks for 51%. It's a polite way of buying them out without admitting to it. for those following another scandal it's why Papa John can't take back his chain even though he own's a whopping 30%.

    ----------- “An STO allows consumers to purchase digital coins or tokens as part of a public offering, just as they would in an ICO. However, unlike many ICOs, these tokens will be backed by a tangible element, such as assets, profits, or revenue in a company, according to Byrne. It’s like holding shares in a company.”------------
     

Share This Page