The first time I passed accreditation, I created a crypto token with a super high supply and sold one, this affected some applications to extrapolate the value of my holdings. A lawyer looked at it and made the attestation that I was accredited and I was able to participate in a couple offerings over the next few months. (Lawyer verified onchain as well)
The second time was after some professional and speculative successes, and I realized that people expected me to be accredited. That was nice. So I “self certified” that I was accredited and got to participate in the rounds. No need to bother with extremely low float assets, although still an option.
All subsequent times I continued to self certify regardless of the economic reality, periodically it’s above the threshold in pure liquid assets, otherwise it was a stretch of the imagination and pure financial engineering. There are also much higher monetary thresholds like “qualified investor”. Everything higher is also a self certification. Its a dumb caste system so I have dumb solutions for it, its super effective. I took it waaay too seriously when I was younger, I just didn’t know the consequences and expected to be treated as a joke by super serious people, turns out nobody cares and capital games are all casual entertainment to the wealthy, show up if you’re interested, bring your own capital.
You still have to actually have the cash to invest. If you can’t come up with $25k minimum it’s going to be weird.
You don’t need that if you earn $200k a year, have two kinds of stockbroker licenses, or are good at lying.
I signed up for some accredited investor sites after passing via the income rule and was kind of annoyed that it just causes people to call you who expect you to have $50k to invest like it’s pocket change.
vmception|3 years ago
The second time was after some professional and speculative successes, and I realized that people expected me to be accredited. That was nice. So I “self certified” that I was accredited and got to participate in the rounds. No need to bother with extremely low float assets, although still an option.
All subsequent times I continued to self certify regardless of the economic reality, periodically it’s above the threshold in pure liquid assets, otherwise it was a stretch of the imagination and pure financial engineering. There are also much higher monetary thresholds like “qualified investor”. Everything higher is also a self certification. Its a dumb caste system so I have dumb solutions for it, its super effective. I took it waaay too seriously when I was younger, I just didn’t know the consequences and expected to be treated as a joke by super serious people, turns out nobody cares and capital games are all casual entertainment to the wealthy, show up if you’re interested, bring your own capital.
You still have to actually have the cash to invest. If you can’t come up with $25k minimum it’s going to be weird.
astrange|3 years ago
I signed up for some accredited investor sites after passing via the income rule and was kind of annoyed that it just causes people to call you who expect you to have $50k to invest like it’s pocket change.