We're fucked.
This is the Chairman of the SEC.
Clip: youtu.be
Nobody has the balls to say it but Ether fails the Howey Test and the SEC looks at it in a very black and white way.
There is a joint SEC + CFTC meeting tomorrow, but the CFTC doesn't matter because the SEC is the GOD of finance in the United States, and therefore the world.
To put it bluntly, Ether fails the Howey Test and this guy knows it:
Other urls found in this thread:
blog.ethereum.org
fortune.com
twitter.com
No we're not.
>no one has the balls to post some shit opinion about eth on a Somalian clay molding forum
>reddit spacing
It's not a security... Worst case scenario they will postpone the decision and say they need to rethink the Howey Test. The market would crash anyway and then recover.
Gee by that point maybe they’ll classify gold as a security or maybe air or your mom
It's not going away without given consideration. This technology has future written all over it. Very unwise to prohibit it.
SEC doesn't listen to this guy, they laugh at him.
SEC is run by wall street, doesn't take a real genius to see how this is going down
see you at 2K next week
ABOLISH THE SEC
yea right. big dick wallstreet players are just getting into the space
He is not Chairman of the SEC, he's one of 4 commissioners. Jay Clayton is the Chairman of the SEC.
I've always found you idiots who screech "reddit spacing" to be the dumbest of the dumb. It's normal to break up your text into pieces rather than post it in one gigantic block.
Fucking imbecile.
you think they buy at 9k, lel
either they wreck it completely or buy for pennies on the dollar same as it ever was
This
.>he doesnt' know Wall Street makes way more money on the way down than on the way up.
Do like the big boys and short it, kid.
>he thinks Soros will buy his bags and not the opposite at the absolute fucking bottom where you will beg him to buy your magical 0 and 1 for an unimaginable discount
Jow Forums in 2018
>This technology has future written all over it. Very unwise to prohibit it.
The SEC doesn't have to agree with you. Blockchain is definitely important for the future, Ethereum isn't necessarily. There are many alternatives to ETH if you're interested in smart contracts. You could literally copy and paste the source code and release an alternative without an ICO, if you think ETH violated securities laws.
Holy shit you need to go back
>Worst case scenario they will postpone the decision and say they need to rethink the Howey Test.
this is the most delusional statement I've read in Jow Forums
what do you think is going to actually happen then?
they bought shitloads OTC at 6k during the first week of April.
Cryptos need their own goddamn classification
We need to stop applying 1930's laws to 21st century tech
Idiot. They already said in previous hearings that because crypto is a new asset class the Howey Test may not be applicable (or may have to be updated).
>Cryptos need their own goddamn classification
They already suggested this in previous meetings. Contrarily to what OP said, the SEC doesn't see the Howey Test as a black-or-white issue. They understand that things are more complicated than that.
Like a give a shit about what some literal boomers say sure it might crash but I'll just buy more
yup, watch OP's video. start at 48:00.
He says they are open to finding new ways of interpreting things but so far the Howey test has worked well for ICOs. I'm kind of scared boys, how will this turn out? I don't really see any good argument for ETH NOT being a security.
thanks op this was an interesting watch.
>I don't really see any good argument for ETH NOT being a security.
A lot of this depends on what investors were told when ETH held its ICO in 2014. Have a look at this and judge it by yourself:
blog.ethereum.org
Vitalik says:
>Ether is a product, NOT a security or investment offering. Ether is simply a token useful for paying transaction fees or building or purchasing decentralized application services on the Ethereum platform; it does not give you voting rights over anything, and we make no guarantees of its future value.
That's good. But then he says:
>We are not blocking the US after all. Yay.
That could be a problem.
>being american
I wish we werent so free sometimes.
Jow Forumsing the cap of moot 'reddit' spacing in 2009. Reddit spacing is meme for newfags to out themselves.
that's pretty interesting. But he can disclaim whatever he likes and afaik that doesn't really negate the reality that most investors hold eth because they think it will increase in value after future improvements like casper and pos
...I think at least. I don't know much about this to be honest.
Not the cap you're looking for but here's a nice primer for newfags
'reddit spacing' is just common sense sentence/paragraph organization
no one wants to read a bunch of shit clustered together
nigga you tribal as fuck
bitch
>But he can disclaim whatever he likes and afaik that doesn't really negate the reality that most investors hold eth because they think it will increase in value after future improvements like casper and pos
so were beanie babies considered a security?
nope. this is definitely a way for newfags to out themselves.
moot has been "reddit spacing" (by the way, before reddit and Jow Forums we used to "reddit space" on bbs boards, message boards, etc.)
you're new
buy eos
>he can disclaim whatever he likes and afaik that doesn't really negate the reality that most investors hold eth because they think it will increase in value
Yes, most investors hold Bitcoin because it will increase in value, but Bitcoin isn't a security (this is discussed in minute ~50 of the video).
What makes it a security is whether investors who bought the asset from its creator (a foundation or a company) were told that the asset would increase in value over time.
What counts in favor of ETH is that most ETH in circulation was mined and not sold in its ICO. This is good and stands in contrast with Ripple, which can't be mined. Coins like Ripple and Neo, which held ICOs and have a fixed supply, are 100% securities, there's no question about it. Even worse are coins designed to be scarce (like Ripple, again) or that are run by for-profit companies (Ripple).
I think the SEC will say this:
>ETH has some characteristics of a both a security and a commodity; given that it's a gray area, we're decided to say it's a commodity for now.
>>ETH has some characteristics of a both a security and a commodity; given that it's a gray area, we're decided to say it's a commodity for now.
imagine how hard eos will moon regardless because their legal team is unmatched in the cryptospace
mate, it's over for EOS for a while, if you have not already sold for a profit you are a fucking retard and have been memed.
>imagine how hard eos will moon
They say in the video that ALL icos analyzed so far were securities. EOS is no exception.
Does FED have a official crypto solution?
I dont think so - crash, because they need to think, accumulate, spread some more fud.. just right before btc about to rise, because we seen the bottom, million dollar shorts liqidated etc
Guess what? Im still hodling. Im about to add some more right after the crash. Thx FED!
Stellar is going to moon so goddamn hard from this...
"Ripple is a for-profit company that sells XRP, Stellar is a non-profit company that awards and giveaway XLM."
thanks for your insight and I really hope they go with that. My (admittedly poorly informed) opinion is also that they will probably kick the can down the road some more. They definitely understand cryptoassets and know the potential. I can't imagine they would hit it with the security killshot
the security label only really harms American projects that held an ICO (which is why the SEC is already cracking down)
fortune.com
Seriously this meme wasn't around until a few years ago, you're all newfags for parroting it. It's fucking ironic but of course retards took it serious and love to signal.
Yep but they just carry on. I went and found the pic I was talking about.
EOS as an ERC20 token isn’t even worth anything. It has no use or purpose. How could that be a security? People knew what they were buying. Nothing! For legal purposes!