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<channel>
	<title>Comments on: BMA Advise Of Risks With Initial Coin Offerings</title>
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	<link>https://bernews.com/2018/01/bma-risks-initial-coin-offerings/</link>
	<description>Bermuda&#039;s #1 source for 24/7 breaking news, photos &#38; videos</description>
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	<item>
		<title>By: bdaboy</title>
		<link>https://bernews.com/2018/01/bma-risks-initial-coin-offerings/#comment-3652611</link>
		<dc:creator><![CDATA[bdaboy]]></dc:creator>
		<pubDate>Fri, 19 Jan 2018 00:12:26 +0000</pubDate>
		<guid isPermaLink="false">http://bernews.com/?p=720149#comment-3652611</guid>
		<description><![CDATA[greed. Bermudians are very much like their heros, the americans.
greedy, selfish, racist and bigoted.]]></description>
		<content:encoded><![CDATA[<p>greed. Bermudians are very much like their heros, the americans.<br />
greedy, selfish, racist and bigoted.</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: James</title>
		<link>https://bernews.com/2018/01/bma-risks-initial-coin-offerings/#comment-3652504</link>
		<dc:creator><![CDATA[James]]></dc:creator>
		<pubDate>Thu, 18 Jan 2018 22:50:02 +0000</pubDate>
		<guid isPermaLink="false">http://bernews.com/?p=720149#comment-3652504</guid>
		<description><![CDATA[If it walks like a duck and quacks like a duck, chances are it&#039;s a duck. A Bermudian and his money are soon parted! Any get rich quick scheme and Bermudians are there!]]></description>
		<content:encoded><![CDATA[<p>If it walks like a duck and quacks like a duck, chances are it&#8217;s a duck. A Bermudian and his money are soon parted! Any get rich quick scheme and Bermudians are there!</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Angus</title>
		<link>https://bernews.com/2018/01/bma-risks-initial-coin-offerings/#comment-3652043</link>
		<dc:creator><![CDATA[Angus]]></dc:creator>
		<pubDate>Thu, 18 Jan 2018 16:39:33 +0000</pubDate>
		<guid isPermaLink="false">http://bernews.com/?p=720149#comment-3652043</guid>
		<description><![CDATA[Excellent!!]]></description>
		<content:encoded><![CDATA[<p>Excellent!!</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Gilbert A Darrell</title>
		<link>https://bernews.com/2018/01/bma-risks-initial-coin-offerings/#comment-3651988</link>
		<dc:creator><![CDATA[Gilbert A Darrell]]></dc:creator>
		<pubDate>Thu, 18 Jan 2018 15:59:37 +0000</pubDate>
		<guid isPermaLink="false">http://bernews.com/?p=720149#comment-3651988</guid>
		<description><![CDATA[We do have a plan to accept the Horizon token as payment for sure.

Having the token also will allow you access to services such as decentralized VPN and data storage we are reserving for those token owners.

In short, you will have options on what to do with the token itself.]]></description>
		<content:encoded><![CDATA[<p>We do have a plan to accept the Horizon token as payment for sure.</p>
<p>Having the token also will allow you access to services such as decentralized VPN and data storage we are reserving for those token owners.</p>
<p>In short, you will have options on what to do with the token itself.</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Angus</title>
		<link>https://bernews.com/2018/01/bma-risks-initial-coin-offerings/#comment-3651416</link>
		<dc:creator><![CDATA[Angus]]></dc:creator>
		<pubDate>Thu, 18 Jan 2018 08:01:10 +0000</pubDate>
		<guid isPermaLink="false">http://bernews.com/?p=720149#comment-3651416</guid>
		<description><![CDATA[Will you be accepting your own tokens as payment for services on your network? Giving me the option to either hold them as an investment that appreciates in value, or simply as a pre-purchase of future services on your network at a reduced rate?]]></description>
		<content:encoded><![CDATA[<p>Will you be accepting your own tokens as payment for services on your network? Giving me the option to either hold them as an investment that appreciates in value, or simply as a pre-purchase of future services on your network at a reduced rate?</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Gilbert A Darrell</title>
		<link>https://bernews.com/2018/01/bma-risks-initial-coin-offerings/#comment-3651151</link>
		<dc:creator><![CDATA[Gilbert A Darrell]]></dc:creator>
		<pubDate>Thu, 18 Jan 2018 04:20:01 +0000</pubDate>
		<guid isPermaLink="false">http://bernews.com/?p=720149#comment-3651151</guid>
		<description><![CDATA[I would agree, I have stated time and time again that I feel many of the ICO&#039;s out there will not survive in the business world.  That doesnt mean they dont have a good idea or deserve a shot, but they need to have a good idea, a great team, enough capital and a unwavering ability to execute.  That&#039;s before we dive into companies who have no business plan worth talking about or worse are just out to &quot;pump and dump&quot;.

The BMA&#039;s warning I thought was very good.  Do you research before investing.  Everyone should learn alot more about their investments, including in the &quot;traditional&quot; market.]]></description>
		<content:encoded><![CDATA[<p>I would agree, I have stated time and time again that I feel many of the ICO&#8217;s out there will not survive in the business world.  That doesnt mean they dont have a good idea or deserve a shot, but they need to have a good idea, a great team, enough capital and a unwavering ability to execute.  That&#8217;s before we dive into companies who have no business plan worth talking about or worse are just out to &#8220;pump and dump&#8221;.</p>
<p>The BMA&#8217;s warning I thought was very good.  Do you research before investing.  Everyone should learn alot more about their investments, including in the &#8220;traditional&#8221; market.</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Gilbert A Darrell</title>
		<link>https://bernews.com/2018/01/bma-risks-initial-coin-offerings/#comment-3651148</link>
		<dc:creator><![CDATA[Gilbert A Darrell]]></dc:creator>
		<pubDate>Thu, 18 Jan 2018 04:16:56 +0000</pubDate>
		<guid isPermaLink="false">http://bernews.com/?p=720149#comment-3651148</guid>
		<description><![CDATA[Not to speak for the BMA or our attorneys, but the ICO industry runs extremely similar to ours.  The whitepaper, in many respects, is the industries &quot;prospectus&quot;.  If the BMA or other regulatory bodies outline specific requirements in the future, we would be happy to comply with those regulations.  The balancing act here is how to have an document to attract investors that doesnt cost a startup tens of thousands to put together.  

Launching an ICO and complying with KYC and AML, putting together detailed financial models, meeting legal requirements, day to day expenses and numerous other things which we have done on our own accord to be in the industry best practice at the outset, all require a very significant amount of capital.  If we want to attract new companies to Bermuda, there will hopefully be a balancing act so they can get off the ground, stay compliant with current and future laws and best practices, but not bury them with huge legal and regulatory compliance issues until they are a bit more stable.]]></description>
		<content:encoded><![CDATA[<p>Not to speak for the BMA or our attorneys, but the ICO industry runs extremely similar to ours.  The whitepaper, in many respects, is the industries &#8220;prospectus&#8221;.  If the BMA or other regulatory bodies outline specific requirements in the future, we would be happy to comply with those regulations.  The balancing act here is how to have an document to attract investors that doesnt cost a startup tens of thousands to put together.  </p>
<p>Launching an ICO and complying with KYC and AML, putting together detailed financial models, meeting legal requirements, day to day expenses and numerous other things which we have done on our own accord to be in the industry best practice at the outset, all require a very significant amount of capital.  If we want to attract new companies to Bermuda, there will hopefully be a balancing act so they can get off the ground, stay compliant with current and future laws and best practices, but not bury them with huge legal and regulatory compliance issues until they are a bit more stable.</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Gilbert A Darrell</title>
		<link>https://bernews.com/2018/01/bma-risks-initial-coin-offerings/#comment-3651141</link>
		<dc:creator><![CDATA[Gilbert A Darrell]]></dc:creator>
		<pubDate>Thu, 18 Jan 2018 04:11:14 +0000</pubDate>
		<guid isPermaLink="false">http://bernews.com/?p=720149#comment-3651141</guid>
		<description><![CDATA[Transferring voting shareholder rights to token holders is a topic of active conversation, it doesnt yet exist anywhere in the world (to my knowledge) but it is certainly not something I am against.  We will be actively watching both the ICO space and working with the BMA how on that structure may work down the road.

One of the many questions on is a token voting rights in a company, which at present they are not, is how that would work on both a logistical sense and a regulatory sense.  Imagine having to mail out 20,40,60k shareholder documents every year or heaven forbid every quarter?  There are many questions to unpack there and that road isnt very well understood.  However, to be very clear, selling ownership rights in the company is something we are very open to discussing if and when that pathway opens up.

As mentioned if the company makes a profit, we intend to return a strong portion of that to the token buyers.  

As mentioned in the business plan, we intend to purchase one tower and a building in Bermuda and lease the other towers needed from Gov.  Also, in regards to spectrum, we have a strong pathway to obtaining what we need and have found our plans well received by our partners, consultants and expect to work very positively with the RAB in the near future.


If you are living in Bermuda want to buy voting shareholder rights in Horizon, I personally would be thrilled, Bermudians should have more ownership in companies they do business with in Bermuda.  Please contact me and I will get the paperwork going with our law firm.  In fact, as you seem keen on learning more and perhaps investing, please give me your number and I will contact you tomorrow!]]></description>
		<content:encoded><![CDATA[<p>Transferring voting shareholder rights to token holders is a topic of active conversation, it doesnt yet exist anywhere in the world (to my knowledge) but it is certainly not something I am against.  We will be actively watching both the ICO space and working with the BMA how on that structure may work down the road.</p>
<p>One of the many questions on is a token voting rights in a company, which at present they are not, is how that would work on both a logistical sense and a regulatory sense.  Imagine having to mail out 20,40,60k shareholder documents every year or heaven forbid every quarter?  There are many questions to unpack there and that road isnt very well understood.  However, to be very clear, selling ownership rights in the company is something we are very open to discussing if and when that pathway opens up.</p>
<p>As mentioned if the company makes a profit, we intend to return a strong portion of that to the token buyers.  </p>
<p>As mentioned in the business plan, we intend to purchase one tower and a building in Bermuda and lease the other towers needed from Gov.  Also, in regards to spectrum, we have a strong pathway to obtaining what we need and have found our plans well received by our partners, consultants and expect to work very positively with the RAB in the near future.</p>
<p>If you are living in Bermuda want to buy voting shareholder rights in Horizon, I personally would be thrilled, Bermudians should have more ownership in companies they do business with in Bermuda.  Please contact me and I will get the paperwork going with our law firm.  In fact, as you seem keen on learning more and perhaps investing, please give me your number and I will contact you tomorrow!</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Gilbert A Darrell</title>
		<link>https://bernews.com/2018/01/bma-risks-initial-coin-offerings/#comment-3651127</link>
		<dc:creator><![CDATA[Gilbert A Darrell]]></dc:creator>
		<pubDate>Thu, 18 Jan 2018 04:02:24 +0000</pubDate>
		<guid isPermaLink="false">http://bernews.com/?p=720149#comment-3651127</guid>
		<description><![CDATA[Thanks for the support.  Horizon will be successful, using blockchain and crypto is one of many reasons why.]]></description>
		<content:encoded><![CDATA[<p>Thanks for the support.  Horizon will be successful, using blockchain and crypto is one of many reasons why.</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Gilbert A Darrell</title>
		<link>https://bernews.com/2018/01/bma-risks-initial-coin-offerings/#comment-3651125</link>
		<dc:creator><![CDATA[Gilbert A Darrell]]></dc:creator>
		<pubDate>Thu, 18 Jan 2018 04:01:22 +0000</pubDate>
		<guid isPermaLink="false">http://bernews.com/?p=720149#comment-3651125</guid>
		<description><![CDATA[I certainly would hope so.  It&#039;s our goal that Horizon is a profitable company and as such brings a return to the token buyers.]]></description>
		<content:encoded><![CDATA[<p>I certainly would hope so.  It&#8217;s our goal that Horizon is a profitable company and as such brings a return to the token buyers.</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Rocky5</title>
		<link>https://bernews.com/2018/01/bma-risks-initial-coin-offerings/#comment-3650985</link>
		<dc:creator><![CDATA[Rocky5]]></dc:creator>
		<pubDate>Thu, 18 Jan 2018 02:05:25 +0000</pubDate>
		<guid isPermaLink="false">http://bernews.com/?p=720149#comment-3650985</guid>
		<description><![CDATA[Don&#039;t companies like Horizon have to file their prospectus with BMA and receive their approval before they can solicit funds from the public?]]></description>
		<content:encoded><![CDATA[<p>Don&#8217;t companies like Horizon have to file their prospectus with BMA and receive their approval before they can solicit funds from the public?</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: jty</title>
		<link>https://bernews.com/2018/01/bma-risks-initial-coin-offerings/#comment-3650680</link>
		<dc:creator><![CDATA[jty]]></dc:creator>
		<pubDate>Wed, 17 Jan 2018 22:09:45 +0000</pubDate>
		<guid isPermaLink="false">http://bernews.com/?p=720149#comment-3650680</guid>
		<description><![CDATA[If it functions like a security it is a security, regardless of form. And many of these &quot;ICOs&quot; are making unbelievable claims, raising lots of money, while the founders collect the cash and have yet to deliver. Other regulators are wise to the risks this poses to their citizens and are regulating to varying degrees. BMA should track very closely...]]></description>
		<content:encoded><![CDATA[<p>If it functions like a security it is a security, regardless of form. And many of these &#8220;ICOs&#8221; are making unbelievable claims, raising lots of money, while the founders collect the cash and have yet to deliver. Other regulators are wise to the risks this poses to their citizens and are regulating to varying degrees. BMA should track very closely&#8230;</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: FishcakeCoin</title>
		<link>https://bernews.com/2018/01/bma-risks-initial-coin-offerings/#comment-3650627</link>
		<dc:creator><![CDATA[FishcakeCoin]]></dc:creator>
		<pubDate>Wed, 17 Jan 2018 21:34:27 +0000</pubDate>
		<guid isPermaLink="false">http://bernews.com/?p=720149#comment-3650627</guid>
		<description><![CDATA[Do your DarrellCoins give ownership in the company?  Do we get our cash back if the company fails? What about foreign ownership rules? If 80% of people buying your coins are not Bermudian, how do you operate in Bermuda?  Have you got your license yet? How about spectrum? Tower?]]></description>
		<content:encoded><![CDATA[<p>Do your DarrellCoins give ownership in the company?  Do we get our cash back if the company fails? What about foreign ownership rules? If 80% of people buying your coins are not Bermudian, how do you operate in Bermuda?  Have you got your license yet? How about spectrum? Tower?</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Angus</title>
		<link>https://bernews.com/2018/01/bma-risks-initial-coin-offerings/#comment-3650571</link>
		<dc:creator><![CDATA[Angus]]></dc:creator>
		<pubDate>Wed, 17 Jan 2018 20:54:30 +0000</pubDate>
		<guid isPermaLink="false">http://bernews.com/?p=720149#comment-3650571</guid>
		<description><![CDATA[Well they have set a standard now of advising on matters for which they are not responsible, so we can expect more from them like advise on Crown and Achor, and the weekend football.]]></description>
		<content:encoded><![CDATA[<p>Well they have set a standard now of advising on matters for which they are not responsible, so we can expect more from them like advise on Crown and Achor, and the weekend football.</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Flash</title>
		<link>https://bernews.com/2018/01/bma-risks-initial-coin-offerings/#comment-3650569</link>
		<dc:creator><![CDATA[Flash]]></dc:creator>
		<pubDate>Wed, 17 Jan 2018 20:52:38 +0000</pubDate>
		<guid isPermaLink="false">http://bernews.com/?p=720149#comment-3650569</guid>
		<description><![CDATA[suuuurrrreeee you did........]]></description>
		<content:encoded><![CDATA[<p>suuuurrrreeee you did&#8230;&#8230;..</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: King Jammys</title>
		<link>https://bernews.com/2018/01/bma-risks-initial-coin-offerings/#comment-3650556</link>
		<dc:creator><![CDATA[King Jammys]]></dc:creator>
		<pubDate>Wed, 17 Jan 2018 20:42:37 +0000</pubDate>
		<guid isPermaLink="false">http://bernews.com/?p=720149#comment-3650556</guid>
		<description><![CDATA[I think Horizon will be successful regardless of crypto currency....sign me up!]]></description>
		<content:encoded><![CDATA[<p>I think Horizon will be successful regardless of crypto currency&#8230;.sign me up!</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Family Man</title>
		<link>https://bernews.com/2018/01/bma-risks-initial-coin-offerings/#comment-3650555</link>
		<dc:creator><![CDATA[Family Man]]></dc:creator>
		<pubDate>Wed, 17 Jan 2018 20:42:13 +0000</pubDate>
		<guid isPermaLink="false">http://bernews.com/?p=720149#comment-3650555</guid>
		<description><![CDATA[Would you consider the purchase of HRZN tokens to be an investment?]]></description>
		<content:encoded><![CDATA[<p>Would you consider the purchase of HRZN tokens to be an investment?</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Rocky5</title>
		<link>https://bernews.com/2018/01/bma-risks-initial-coin-offerings/#comment-3650435</link>
		<dc:creator><![CDATA[Rocky5]]></dc:creator>
		<pubDate>Wed, 17 Jan 2018 19:19:01 +0000</pubDate>
		<guid isPermaLink="false">http://bernews.com/?p=720149#comment-3650435</guid>
		<description><![CDATA[Hope BMA keeping  their eye on the Horizon]]></description>
		<content:encoded><![CDATA[<p>Hope BMA keeping  their eye on the Horizon</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Gilbert A Darrell</title>
		<link>https://bernews.com/2018/01/bma-risks-initial-coin-offerings/#comment-3650432</link>
		<dc:creator><![CDATA[Gilbert A Darrell]]></dc:creator>
		<pubDate>Wed, 17 Jan 2018 19:17:42 +0000</pubDate>
		<guid isPermaLink="false">http://bernews.com/?p=720149#comment-3650432</guid>
		<description><![CDATA[As the Founder of Horizon, we fully support the BMA&#039;s statement. Investing into any company is a risk and the investors should do their due diligence and make sure they fully understand the potential benefits, and potential risks, of what they are buying into.]]></description>
		<content:encoded><![CDATA[<p>As the Founder of Horizon, we fully support the BMA&#8217;s statement. Investing into any company is a risk and the investors should do their due diligence and make sure they fully understand the potential benefits, and potential risks, of what they are buying into.</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Truth is killin’ me...</title>
		<link>https://bernews.com/2018/01/bma-risks-initial-coin-offerings/#comment-3650385</link>
		<dc:creator><![CDATA[Truth is killin’ me...]]></dc:creator>
		<pubDate>Wed, 17 Jan 2018 18:39:50 +0000</pubDate>
		<guid isPermaLink="false">http://bernews.com/?p=720149#comment-3650385</guid>
		<description><![CDATA[I lost my house and shirt at Crown and Anchor. Wish BMA had put out an advisory!]]></description>
		<content:encoded><![CDATA[<p>I lost my house and shirt at Crown and Anchor. Wish BMA had put out an advisory!</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Family Man</title>
		<link>https://bernews.com/2018/01/bma-risks-initial-coin-offerings/#comment-3650261</link>
		<dc:creator><![CDATA[Family Man]]></dc:creator>
		<pubDate>Wed, 17 Jan 2018 17:15:01 +0000</pubDate>
		<guid isPermaLink="false">http://bernews.com/?p=720149#comment-3650261</guid>
		<description><![CDATA[I wonder if the BMA had in mind anything new on the Horizon when the issued this warning.

&quot;Initial Coin Offerings [ICOs] — in which investors use cryptocurrency – are “not subject to prudential regulation” &quot;]]></description>
		<content:encoded><![CDATA[<p>I wonder if the BMA had in mind anything new on the Horizon when the issued this warning.</p>
<p>&#8220;Initial Coin Offerings [ICOs] — in which investors use cryptocurrency – are “not subject to prudential regulation” &#8220;</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Thank you BMA</title>
		<link>https://bernews.com/2018/01/bma-risks-initial-coin-offerings/#comment-3650257</link>
		<dc:creator><![CDATA[Thank you BMA]]></dc:creator>
		<pubDate>Wed, 17 Jan 2018 17:12:34 +0000</pubDate>
		<guid isPermaLink="false">http://bernews.com/?p=720149#comment-3650257</guid>
		<description><![CDATA[This is a measured and very important reminder.  Thank you BMA.

Cryptocurrencies are very much in fashion boasting incredible returns--this could be enticing to investors.

Investors must absolutely be vigilent not only about the crypo &quot;vehicles&quot; but of all the other risks inherent in investing in these speculative instrumetns these risks extend beyond investment loss and could include cybercurrency theft.

BUYERS BEWARE!]]></description>
		<content:encoded><![CDATA[<p>This is a measured and very important reminder.  Thank you BMA.</p>
<p>Cryptocurrencies are very much in fashion boasting incredible returns&#8211;this could be enticing to investors.</p>
<p>Investors must absolutely be vigilent not only about the crypo &#8220;vehicles&#8221; but of all the other risks inherent in investing in these speculative instrumetns these risks extend beyond investment loss and could include cybercurrency theft.</p>
<p>BUYERS BEWARE!</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Say Whaat?</title>
		<link>https://bernews.com/2018/01/bma-risks-initial-coin-offerings/#comment-3650251</link>
		<dc:creator><![CDATA[Say Whaat?]]></dc:creator>
		<pubDate>Wed, 17 Jan 2018 17:07:41 +0000</pubDate>
		<guid isPermaLink="false">http://bernews.com/?p=720149#comment-3650251</guid>
		<description><![CDATA[Thank you for this information BMA!]]></description>
		<content:encoded><![CDATA[<p>Thank you for this information BMA!</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Stop whining</title>
		<link>https://bernews.com/2018/01/bma-risks-initial-coin-offerings/#comment-3650243</link>
		<dc:creator><![CDATA[Stop whining]]></dc:creator>
		<pubDate>Wed, 17 Jan 2018 17:03:04 +0000</pubDate>
		<guid isPermaLink="false">http://bernews.com/?p=720149#comment-3650243</guid>
		<description><![CDATA[I made over $259,000 on bitcoin investment by getting in at the hundreds of dollars level! I love it when regulators want to stop us from making money so they can tax everything and claim that it protects us!]]></description>
		<content:encoded><![CDATA[<p>I made over $259,000 on bitcoin investment by getting in at the hundreds of dollars level! I love it when regulators want to stop us from making money so they can tax everything and claim that it protects us!</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: dick francis</title>
		<link>https://bernews.com/2018/01/bma-risks-initial-coin-offerings/#comment-3650240</link>
		<dc:creator><![CDATA[dick francis]]></dc:creator>
		<pubDate>Wed, 17 Jan 2018 17:01:35 +0000</pubDate>
		<guid isPermaLink="false">http://bernews.com/?p=720149#comment-3650240</guid>
		<description><![CDATA[Lol, on the day more than $200 billion was wiped off the bitcoin value!]]></description>
		<content:encoded><![CDATA[<p>Lol, on the day more than $200 billion was wiped off the bitcoin value!</p>
]]></content:encoded>
	</item>
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