You people have it all wrong. Once ETH becomes a security, it sets a precedent. It becomes legitimate. It becomes "investible".
>But the market cap is already high Exactly. Just wait until buying ETH is as easy as buying AAPL >But it's already on Robinhood. Ok? Most people on Robinhood are relatively poor, so they're already on Binance and kucoin. We need the E*Trade and Merril Lynch users of the world to be able to buy Ethereum. Think CEO's and CFO's of larger corporations. They aren't creating a Binance account because it's too fucking risky, and they're not using NormieBase either. It's as simple as that.
So, keep accumulating your favorite shitcoins. Keep HODL'ing. If ETH doesn't become a security tomorrow, it may moon. If it becomes labeled as a security, get ready for it to hit the Scottrades and E*Trades of the world eventually.
There are billions of dollars that haven't hit the crypto market. Just as some were on Bitcoin before it became a meme, you have a chance to get in promising projects before every normie in town has a chance to buy in, because first comes Ethereum. Next comes anything from ACT to LINK to VEN, DASH, etc. It legitimizes crypto in general.
"Success occurs when opportunity and preparation meet.
Get comfy, boys. It's about to get wild in this bitch.
So what happens to people that own ETH if it becomes a security? Dont you need to make like 1/4 of a million to buy this shit? Is the gov gonna come knocking down my doors to confiscate my eth?
Mason Gray
Hey OP take a look at the difference between a security and an asset. A security is intended to give you partial ownership of a company and the interest it produces. That is not ethereum. Therefore it should not be classified as a security.
Adrian Foster
I know what a security is. I'm in the Finance field.
A security is any investment product that can be exchanged for value and involves risk. In order for an investment to be considered a security, it must be readily transferable between two parties and the owner must be subject to the loss of some, or all, of the invested principal. If the product is not transferable or does not contain risk, it is not a security.
Juan Ramirez
this is literally the description of ether.
Christopher Martinez
The chances of the SEC declaring Ethereum a security are less than them declaring the US Dollar to be a security.
What you want is Ethereum declared a currency, and that chances of that are less than it being declared a security.
>There are billions of dollars that haven't hit the crypto market.
Wishful thinking at best, and the reason why I disregard everything you posted, this is how a child thinks, and daydreams.
Robert Brown
Excellent argument. Thanks. You just changed my mind so I'm gonna delete my thread now.
Connor Adams
>We need the E*Trade and Merril Lynch users of the world to be able to buy Ethereum
It's easy to buy Ethereum. It's easier than using ETrade and Merril Lynch. A new user can find a website to buy it within an hour. Anybody who wants it can already buy it
Andrew Rogers
It’s also the description of exchanging currencies or trading goods.
Connor Wilson
You expect 40 year olds and up to get on Coinbase or GDAX, let alone any of the "sketchy" ones? Keep dreaming.
>it sets a precedent. It becomes legitimate. It becomes "investible". this. prepare for a bull run that'll make december look like a dip
Hunter Bailey
Ya, comfy sell lol....
then comfiest buy of my life once the SEC reveals their nothing burger
Lucas Collins
>It's easy to buy Ethereum. It's easier than using ETrade and Merril Lynch. A new user can find a website to buy it within an hour. Anybody who wants it can already buy it institutions arent gonna buy through some chink exchange. once its listed as a sec, secure and guaranteed exchanges will host eth, and the money will come flooding in. anyone who doesnt see this is an idoti
Brandon Kelly
>A security is intended to give you partial ownership of a company and the interest it produces.
That's one form of a security. There are several kinds, the most popular being debt based, like bonds, equity based, like stocks, and other, like derivatives.
A security, in the US, is a collection of assets, that's tradable. The trading part is the key here. This is basic stuff, you shouldn't be telling anyone else to look something up, when you're completely wrong.
Ethereum, or any crypto, could be classified as an asset. I think it's highly unlikely as it opens up a Pandora's Box for the government as a whole, because it will require restructuring of regulations, laws, and rules across the board, and the Federal Gov hasn't made any noises they're ready to even begin that discussion, let alone start the ball rolling in the Congress to get it done, or to have Fed agencies like the IRS redo their policies and work with the Congress to update the laws that govern their policies.
The last G20 told you all you need to know - they considered crypto so small and ineffectual that they chose to do nothing in regard to laws or policies, and have no intention to do so until crypto requires it.
It makes no sense for the FTC to throw a major monkey wrench into the system tomorrow for Ethereum, and they have no compelling case to do so.
My bet is they do nothing - leaving it as is, as an asset, will be fine.
Levi Hill
I really don't care what you do, but if you post bullshit like that, I'm going to mock you.
Jackson Lewis
This concept is comparable to pre-internet era. Before you could invest in AAPL or TSLA with the click of a mouse, you had to go through phone calls to brokers, send in bank accounts, wait weeks at a time for your account to go live, etc.
To get on Binance: >You have to trust chink exchanges >Buy BTC or ETH through a random app. Send to Binance >One wrong letter or number on your transfer address, and your funds literally disappear. >Understand what a satoshi is
And before all of this, you have to understand wtf Ethereum is, something of which I doubt half of Biz could even explain. The barriers to entry in crypto are huge in comparison to setting up a TDAmeritrade account, linking your bank account, and buying Apple. Once the barriers are lowered, money will flow in like never before.
Ok. Don't care.
Noah Richardson
You will have to use a broker to buy is all
Jaxon Green
Ya fuck that shit lol, I don’t want to pay some jew fees for literally doing what I do every day. Sounds like a fat scam
Alexander Allen
I don't really understand OP, why wouldn't a commodity be legitimate? Why is it better to be a security?
Thomas Green
W/e itll allow 30 yr old boomers to buy
Jeremiah Adams
Idc what it's called. It's not currently eligible for trading on major stock brokers. That's all I'm talking about here.
Jack Green
Yeah but you're poor so no one cares what you think
Jordan Walker
Same shit was said when btc futures became active in December. They just shorted it into the ground.
Jose Parker
Hey numnutz If Ethereum is classified security then the “pattern day trader” rules would apply. This means US citizens that are not institutional investors ability to trade anything classified as a security gets limited drastically. Trading Eth or anything classified as a security would become like buying an damn ICO for US traders.
Austin Long
Futures volume is barely enough to move the market.
Xavier Walker
So legit question: Are other ERC20 coins fucked too or is it just ETH?
Hey numnutz. Day trading anything doesn't make it appreciate in value. It only provides liquidity. Also, accounts above $25k CAN daytrade without being flagged. I know you don't know what that feels like so I'll let you slide.
Christopher Baker
But this has nothing to do with it being declared a security. You are right though major brokers is how we get the 50 y/o millennials in, they aren't fomo proof, they have heard about our bit coins, they will click it if it's there.
Owen Cox
It depends, some were already fucked / unfucked. Securities are of course allowed but they have to jump through hoops first, the point is ETH never jumped through the hoops and was a security, the question is does it matter anymore and is there an actual reason to change its current status as a commodity. The decision on ETH makes no direct difference to ERC20s, it depends whether they meet the regulations themselves
Aaron Bailey
>being american
Nathaniel Jones
Security is a promise to exchange something for something later. That’s all it is. There is no promise anyone will deliver value of ETH later if you buy it today. It’s not a security. ICOs on the other hand... that shit’s a security.
Jackson Collins
That's probably the dumbest shit I've ever read on biz
Ethan Jackson
We can't help we were born here. You, on the other hand, can help being a faggy third worlder
Henry Nguyen
boomers arent 30 you fucking dipshit, boomers are at least 50. 30 year olds had the internet in elementary school
Anthony Campbell
>Finance: A financing or investment instrument issued by a company or government agency that denotes an ownership interest and provides EVIDENCE OF A DEBT, a right to share in the earnings of the issuer, or a right in the distribution of a property. Securities include bonds, debentures, notes, options, shares, and warrants but not insurance policies, and may be traded in financial markets such as stock exchanges. >Banking: An asset pledged to GUARANTY THE REPAYMENT OF A LOAN, SATISFACTION OF AN OBLIGATION, OR IN COMPLIANCE OF AN AGREEMENT. Security gives a lender or obligee a legal right of access to the pledged asset and to take their possession and title in case of default for a foreclosure sale.
Kys
Matthew Williams
>Just wait until buying ETH is as easy as buying AAPL Buying crypto is already much easier than any of that shit.
Brayden Gray
Took you long enough to google and copy and paste a bunch of shit you don't even understand
