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Blake Garcia
Thomas Garcia
Getting just’ Here AAAAAAAAAA
Alexander Davis
This is the most obvious Buy the Dip moment ever, and if you miss it shame on you.
Isaiah Williams
I did, gz me.
Alexander Gonzalez
high five!
Angel Harris
Bitcoin has found its support for the next few days, so we're bouncing back to 9.5k. Eth will recover to 790, possibly 800. I bought at 719, feels comfy.
Xavier White
Leo Ramirez
Just thought of something. Eth will most probably not be classified a security. But all erc20 tokens will (and if not today, some other time).
This is still bad for eth in the short run because it's its only seriously used use case at the moment.
In the long run it will weed out the 90% scam/shittokens.
Adam Ramirez
Don't worry, we discussed this yesterday and agreed to sell because it would either be a drop due to bad news, no change due to good news or a drop due to confusion.
So everyone on biz followed this logic and sold around 780-790 already.
Nathan Allen
Just dance
you will be okay
Camden Butler
What a load of bullshit. Do you even know what security means?
Owen Wilson
>But all erc20 tokens will
No, it depends on the individual token properties, disclaimer and so on
Michael Perry
Sec high ups are on record saying most tokens are securities but keep living in your bubble guys.
Jack Walker
Provide a quote.
William Baker
Nathaniel Ross
coindesk.com
His stance is changing, the devil is always in the details
Luis Lewis
Lol who cares if the burgers ban it. The rest of the world (96%) will still use it
Sebastian Edwards
>Whether tokens are securities or not, has not been decided by any court. SEC’s interpretation that they are, is just an interpretation by some lawyers. Other lawyers have different interpretations.
Lucas Hall
>mfw sold at $790
Dylan Ward
Cmon, be real. A security is defined as something that is dependent on a corporate's success. Most, if not all, tokens are either a company or someone attempting to become a company.
ETH itself isn't dependent on a single corporate, it actually has a chance at being classified as a commodity. At most, you could maybe consider the EEA as the face of ETH, but that's not a company, mainly a hub for companies to contact directly with ETH devs. The only thing that could cause it to not be classified as one, is the initial offering they did to raise funds for development, which could be constituted as starting a company.
This isn't the case for most tokens though. They're all tied to companies, at least the most important ones. It's inevitable that they're considered securities.
Thomas Gutierrez
>cryptocurrency regulation
Governments unironically need to be abolished, they stand in the way of people looking to make profits.
Asher Clark
Can someone please explain, what does It mean for a token to be a security?
I am not from the USA. Is Bitcoin considered a currency in the US? I understand all crypto trades are taxable events in America which would be impossible to enforce. Won't tokens being classed as securities just bind them to a set of unenforceable laws?
Aaron Sanders
Yes agree. Just run it through the Howey test. Or use common sense. Youre simply buying stock in a company except the market isnt regulated and the older generation doesnt fully grasp the tech.
Anthony Brooks
is that the definition? Cause in that case what about the argument that miners are effectively "in control" like a corporation since by majority they determine the direction of the software (via eg hardforks) as witnessed by the DAO correction?
Christian Torres
Just to add to my last paragraph:
Imagine that news broke out that OmiseGo (not the OMG token, OmiseGo itself) announced they were bankrupt and were closing doors, but the development of OMG itself was still ongoing as plan, regardless of these developments. What do you think would happen? OMG would go to fractions of a cent overnight. It would get completely ravaged and turn useless. One is entirely dependent on the other, and investing in OMG is synonym with investing in OmiseGo. That's a literal security and could never ever be classified as a commodity. Just a plain simple example for those that still doubt tokens could ever be considered anything but securities.
That's a good question, and one that I'm not entirely sure. I'm just a somewhat informed bystander that can, at best, throw some guesses.
From my understanding, while miners are in control, it's unlikely to be considered as a form of corporation because they're not organized. A corporation always has a centralizing piece, someone coordinating the operation. This does not exist in ETH. At most, you can have people influence miners and their opinions can shape ETH, but that's that. Miners are still free to decide to shape ETH however they like.
Regardless of this, the endgoal of ETH is to become PoS, and mining will fade away eventually when this is a reality. For now though, and since the regulation is being issued now and not when PoS is a thing, that could have an impact on the decision, of course.
Mason Carter
wrong, bitcoin will go down to at least $8670 (bitfinex price).
this is basic stuff.
Cameron Scott
ETH is gonna go higher than it was quick and everyone is going to FOMO back in.
All 1 big nothing burger.
Tyler Anderson
tis but a correction