By transferring Ether to the smart contract system (“Smart Contract System”, as explained in Exhibit B) to purchase BAT from us, you represent and warrant that:
You are not (i) a citizen or resident of a geographic area in which access to or use of the Services is prohibited by applicable law, decree, regulation, treaty, or administrative act, (ii) a citizen or resident of, or located in, a geographic area that is subject to U.S. or other sovereign country sanctions or embargoes, or (iii) an individual, or an individual employed by or associated with an entity, identified on the U.S. Department of Commerce’s Denied Persons or Entity List, the U.S. Department of Treasury’s Specially Designated Nationals or Blocked Persons Lists, or the U.S. Department of State’s Debarred Parties List. You agree that if your country of residence or other circumstances change such that the above representations are no longer accurate, that you will immediately cease using the Services. If you are registering to use the Services on behalf of a legal entity, you further represent and warrant that (i) such legal entity is duly organized and validly existing under the applicable laws of the jurisdiction of its organization, and (ii) you are duly authorized by such legal entity to act on its behalf; and
Date: May 30th, 2017 5:27 PM Author: flatulent boltzmann
If you're an American you're breaking the terms and conditions of the contract by transferring ETH in order to get BAT, but you'll end up selling your BAT for a profit in a few weeks/months anyway, plus nobody is going to track this shit. Enjoy your profits.
I was pretty high on this given the high profile investors, but why does a web browser need a crypto currency? Why couldn't this just be done with ETH via a plug in to Safari, Chrome, etc.? And don't the advertisers and middle men--who have a fuck load of money--have every incentive to try to kill this thing in its sleep? Why will they fail? This seems to me to be adding blockchain somewhere it wasn't really needed in the first place.
Date: May 30th, 2017 5:23 PM Author: flatulent boltzmann
Advertisers want a better way to pay for ads and to track how successful their advertising is. BAT accomplishes that. Middlemen won't like it, but advertisers hate middlemen since they're leeches. BAT devs have stated that they'll develop addons for non-Brave browsers.
Do advertisers really have the ability to manage this shit themselves? These "middlemen" add value by collecting lots of info and slicing/dicing it for advertisers to guide them to optimal ad buys. If you get rid of them, won't advertisers have to do all this analysis in-house, and won't that cost a lot?
BAT would be the first to offer what companies are looking for, but based on smart contracts and the blockchain. It's also the first to deal with the problem of ad blockers head on.
Fair enough. I just think the market for this shit is much smaller than the ETH market, and I'm not sure I understand why there needs to be a different currency for this when ETH and software could probably do the same thing. Why not just make a browser plugin that runs smart contracts on ETH? That will be a much more liquid market eventually.