The number of people in the world that understand how to use XCP and the DeX is small. That is a fact that is not in dispute. Hell there aren’t enough people in the world that understand bitcoin, not really.
There was a heated discussion last night in one of the rarepepe channels on telegram. Some pepe artists and collectors fear that rareaf.com will bring unwelcome attention from U.S. regulatory authorities and that I will surely get in trouble with the S.E.C.
These fears are understandable.
In this post, I will explain my thinking regarding regulation.
The RareAF Buyers’ Club is just that - a club. I don’t charge a management fee. I don’t take a bonus on profits. I share in profits proportional to the rareaf tokens I hold. It is meant to be a cooperative effort. I make buy and sell decisions on behalf of the club members to the benefit of the club members.
The Club doesn’t manage money. We trade one token (pepecash) for another (say SANDWICHPEPE). Digital trading cards is one thing rarepepes are meant to be. What they actually are is not yet clear. If a regulatory body gets involved we will comply with their directives. I have been proactive in finding out what we need to do concerning regulation. I’ve notified the S.E.C. of what I’m doing regarding rarepepe.gallery and rareaf.com and asked for their input. I’m waiting to hear back from them.
I agree that we are in murky waters. That, in itself, is not reason to believe we are doing anything illegal or wrong. The Buyers’ Club wouldn’t even have been possible just a few years ago. It shouldn’t be surprising that the regulatory framework is incomplete.
I will keep club members and the rarepepe community as a whole up to date with any interactions with the S.E.C. or any other regulatory body.
Block 487,380 marks an important milestone in the maturation of the Bitcoin Blockchain (the only real blockchain in our opinion).
What happened at block 487,380?
The RareAF Buyers' Club doubled it's membership. The first brick in the pepe buy wall has been laid. Transaction hash 27c4abeb38c83182bb1304998d785a1310e13e6fd6c7298862631916b78ae726 for posterity.
Now this new club member can rest his (or her . . but probably his) head at night knowing that we are working hard to gather rarepepes at rare prices and all the while he can enjoy the collections at 18wUphncN6mEwxYkQQsv37xXT1TsSANZhB and 184gKLQTtQU29LXbxbYJkUV4if9SmW6v2d knowing he has some equity in cards like PUTINPEPE, TRUMPRARE, HAIRPEPE, too many to list.
Welcome to the club! Enjoy your exposure to the meme economy and stay rare!