Somehow, I honestly doubt that. If he exists and is a lawyer, he would have asked to see the Terms and Conditions for using the service. Then once he saw that, he’d tell you that you’ve got nothing.
Again, if he exists and is a lawyer, he’d use more accurate and better legal terms. The idea you’re quoting “robbed” shows you’re really off track.
Nothing “stolen.” All Users have vBAT and can use it as agreed in the Terms. And just as the risks agreed to in Terms, there are changes in how things will work. So there’s been notice given and you have time to “use it or lose it.”
Negative. You can try to make a case but there’s no case there. It would be thrown out by any government.
It’s not Brave Inc. You don’t even have the proper business name.
Can’t message people here. Just saying…
Now, let’s review some core parts of the Terms you agreed to.
Exhibit C Certain Risks Relating to Purchase, Sale and Use of BAT
** Important Note:** As noted elsewhere in these Terms, the BAT are not being structured or sold as securities or any other form of investment product. Accordingly, none of the information presented in this Exhibit C is intended to form the basis for any investment decision, and no specific recommendations are intended. Company expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from: (i) reliance on any information contained in this Exhibit C, (ii) any error, omission or inaccuracy in any such information or (iii) any action resulting from such information.
By purchasing, holding and using BAT, you expressly acknowledge and assume the following risks:
1. Risk of Losing Access to BAT Due to Loss of Private Key(s), Custodial Error or Purchaser Error
A private key, or a combination of private keys, is necessary to control and dispose of BAT stored in your digital wallet or vault. Accordingly, loss of requisite private key(s) associated with your digital wallet or vault storing BAT will result in loss of such BAT. Moreover, any third party that gains access to such private key(s), including by gaining access to login credentials of a digital wallet or vault service you use, may be able to misappropriate your BAT. Any errors or malfunctions caused by or otherwise related to the digital wallet or vault you choose to receive and store BAT, including your own failure to properly maintain or use such digital wallet or vault, may also result in the loss of your BAT. Additionally, your failure to follow precisely the procedures set forth in Section 4 of Exhibit B for buying and receiving BAT, including, for instance, if you provide the wrong address for receiving BAT, may result in the loss of your BAT.
2. Risks Associated with the Ethereum Protocol
Because BAT and the Platform are based on the Ethereum protocol, any malfunction, breakdown or abandonment of the Ethereum protocol may have a material adverse effect on the Platform or BAT. Moreover, advances in cryptography, or technical advances such as the development of quantum computing, could present risks to BAT and the Platform, including the utility of BAT for obtaining Services, by rendering ineffective the cryptographic consensus mechanism that underpins the Ethereum protocol.
3. Risk of Mining Attacks
As with other decentralized cryptographic tokens based on the Ethereum protocol, BAT are susceptible to attacks by miners in the course of validating BAT transactions on the Ethereum blockchain, including, but not limited, to double-spend attacks, majority mining power attacks, and selfish-mining attacks. Any successful attacks present a risk to the Platform and BAT, including, but not limited to, accurate execution and recording of transactions involving BAT.
4. Risk of Hacking and Security Weaknesses
Hackers or other malicious groups or organizations may attempt to interfere with the Platform or BAT in a variety of ways, including, but not limited to, malware attacks, denial of service attacks, consensus-based attacks, Sybil attacks, smurfing and spoofing. Furthermore, because the Platform is based on open-source software, there is a risk that a third party or a member of the Company team may intentionally or unintentionally introduce weaknesses into the core infrastructure of the Platform, which could negatively affect the Platform and BAT, including BAT’s utility for obtaining Services.
5. Risks Associated with Markets for BAT
BAT are intended to be used solely on the Platform, and Company will not support or otherwise facilitate any secondary trading or external valuation of BAT. This restricts the contemplated avenues for using BAT to obtain Services or access the Platform, and could therefore create illiquidity risk with respect to BAT you hold. Even if secondary trading of BAT is facilitated by third party exchanges, such exchanges may be relatively new and subject to little or no regulatory oversight, making them more susceptible to market-related risks. Furthermore, to the extent that third-parties do ascribe an external exchange value to BAT (e.g., as denominated in a digital or fiat currency), such value may be extremely volatile and diminish to zero.
6. Risk of Uninsured Losses
Unlike bank accounts or accounts at some other financial institutions, BAT are uninsured unless you specifically obtain private insurance to insure them. Thus, in the event of loss or loss of utility value, there is no public insurer, such as the Federal Deposit Insurance Corporation, or private insurance arranged by us, to offer recourse to you.
7. Risks Associated with Uncertain Regulations and Enforcement Actions
The regulatory status of BAT and distributed ledger technology is unclear or unsettled in many jurisdictions. It is difficult to predict how or whether regulatory agencies may apply existing regulation with respect to such technology and its applications. It is likewise difficult to predict how or whether legislatures or regulatory agencies may implement changes to law and regulation affecting distributed ledger technology and its applications, including the Platform and BAT. Regulatory actions could negatively impact the Platform and BAT in various ways, including, for purposes of illustration only, through a determination that BAT are a regulated financial instrument that require registration or licensing. Company may cease operations in a jurisdiction in the event that regulatory actions, or changes to law or regulation, make it illegal to operate in such jurisdiction, or commercially undesirable to obtain the necessary regulatory approval(s) to operate in such jurisdiction.
8. Risks Arising from Taxation
The tax characterization of BAT is uncertain. You must seek your own tax advice in connection with purchasing BAT, which may result in adverse tax consequences to you, including withholding taxes, income taxes and tax reporting requirements.
9. Risk of Alternative Platforms
It is possible that alternative platforms could be established that utilize the same open source code and protocol underlying the Platform and attempt to facilitate services that are materially similar to the Services. The Platform may compete with these alternative platforms, which could negatively impact the Platform and BAT, including BAT’s utility for obtaining Services.
10. Risk of Insufficient Interest in the Platform or Distributed Applications
It is possible that the Platform will not be used by a large number of individuals, companies and other entities or that there will be limited public interest in the creation and development of distributed platforms (such as the Platform) more generally. Such a lack of use or interest could negatively impact the development of the Platform and the potential utility of BAT, including its utility for obtaining Services.
11. Risks Associated with the Development and Maintenance of the Platform
The Platform is still under development and may undergo significant changes over time. Although we intend for BAT and the Platform to follow the specifications set forth in Exhibit A, and will take commercially reasonable steps toward those ends, we may have to make changes to the specifications of BAT or the Platform for any number of legitimate reasons. This could create the risk that BAT or the Platform, as further developed and maintained, may not meet your expectations at the time of purchasing BAT. Furthermore, despite our good faith efforts to develop and maintain the Platform, it is still possible that the Platform will experience malfunctions or otherwise fail to be adequately developed or maintained, which may negatively impact the Platform and the potential utility of BAT, including its utility for obtaining Services.
12. Risk of an Unfavorable Fluctuation of Ether and Other Currency Value
The Company team intends to use the proceeds from selling BAT to fund the maintenance and development of the Platform, as described further in Section 6 of Exhibit B. The proceeds of the sale of BAT will be denominated in Ether, and may, at our discretion, be converted into other cryptographic and fiat currencies. If the value of Ether or other currencies fluctuates unfavorably during or after the Sale Period, the Company team may not be able to fund development, or may not be able to develop or maintain the Platform in the manner that it intended.
13. Risk of Dissolution of the Company
It is possible that, due to any number of reasons, including, but not limited to, an unfavorable fluctuation in the value of Ether (or other cryptographic and fiat currencies), decrease in BAT’s utility (including its utility for obtaining Services), the failure of commercial relationships, or intellectual property ownership challenges, the Platform may no longer be viable to operate and the Company may dissolve.
14. Risks Arising from Lack of Governance Rights
Because BAT confer no governance rights of any kind with respect to the Platform or Company, all decisions involving the Platform or Company will be made by Company at its sole discretion, including, but not limited to, decisions to discontinue the Platform, to sell more BAT for use in the Platform, or to sell or liquidate the Company. These decisions could adversely affect the Platform and the utility of BAT that you hold, including BAT’s utility for obtaining Services.
15. Risks Associated with Advertising-Supported Business Models
The Company’s growth and adoption of the Platform may depend on our ability to maintain and expand our existing relationships with advertisers and publishers and our ability to develop new relationships with other advertisers and publishers within the Platform. As the advertising market generates and develops new concepts and technology, we may incur additional costs to implement a more effective Platform and may have to adjust to new tracking and unforeseeable technologies that could diminish the effectiveness of our BAM and other attention-measuring metrics. Continuing to develop and improve the Platform to keep up with these changes may require significant time and additional investment. If we cannot continue to develop and improve the Platform to maintain competitiveness in light of such changes, the Platform may not remain viable, which could negatively impact the utility of BAT, including BAT’s utility for obtaining Services.
16. Risks Associated with New and Evolving Laws Impacting Advertising and Advertising Technology
The advertising and advertising technology ecosystems, and by extension our own Platform, are subject to a variety of federal, state and international laws and regulations, including those with respect to consumer privacy, data protection, consumer protection, content regulation, network neutrality, cyber security, data protection, intellectual property (including copyright, patent, trademark and trade secret laws), defamation, child protection, and others. These laws and regulations, and the interpretation or application of these laws and regulations, could change. In addition, new laws or regulations affecting the Company could be enacted. As the Platform evolves, Company may be subject to new laws and the application of existing laws to us might change. These laws and regulations are frequently costly to comply with and may divert a significant portion of Company’s attention and resources. If we fail to comply with these applicable laws or regulations, we could receive negative publicity and be subject to significant liabilities which could adversely impact the Company, the Platform and BAT, including BAT’s utility for obtaining Services. Additionally, the advertisers and publishers within the Platform are subject to industry specific laws and regulations or licensing requirements. If any of these parties fails to comply with any of these licensing requirements or other applicable laws or regulations, or if such laws and regulations or licensing requirements become more stringent or are otherwise expanded, it could adversely impact the Platform and BAT, including BAT’s utility for obtaining Services.
17. Unanticipated Risks
Cryptographic tokens such as BAT are a new and untested technology. In addition to the risks included in this Exhibit C, there are other risks associated with your purchase, holding and use of BAT, including those that the Company cannot anticipate. Such risks may further materialize as unanticipated variations or combinations of the risks discussed in this Exhibit C.
