Could you explain with simple words to non burgers Jow Forumstards like me?
In the last months I've seen a lot of coins being delisted on Bittrex because they were labeled as "security", still have no fucking clear idea of what a security is.
What the fuck is a security anyway?
Thomas James
Logan Phillips
When you buy something because you think you'll make a profit
That thing you buy is a security
Jayden Murphy
Google is your friendo. Start with vivint
Joshua Price
so why Ethereum in particular? This describes every crypto
Chase Jackson
Everything sound like a security then, at least in a "Greater fool theory" scheme.
Why ETH is or not a security and any masternode coin or NEO where you get GAS is not a secuirty?
Lucas Green
The distinction is when you buy a piece of something that someone else is supposed to improve the value of.
The argument for ETH is that everyone is given the opportunity to mine ETH and that's where the improved value comes from.
In fact the creators of the security are not those with the highest stake in the trading and don't have control over the network.
Jaxon King
Basicly if you buy something and are yourself responsible for growth in value, its commodity. If people who sold you stuff are responsible for value growth, its security.
Nolan Stewart
So basically everything we trade with is an illegal security lmfao
Noah Diaz
It's s made up Jewish meme to keep they goys from thinking they can manage their own money without paying broker fees
Eli Harris
this
Crypto is dead, if we aren't lucky.
Noah Ramirez
>tfw burgerland was founded upon fighting a tyranny to not pay taxes and now they can't even trade crypto without their bumfuck government coming in telling them what to do
Adam Turner
A security is a paper representation of ownership of equity or debt. To securitize means to separate the ownership from the object.
In other words, I can hold a piece of gold in my hand, and it is mine. I can also lock that piece of gold up in a room and never move it from place to place again, and sell a piece of paper called a 'security', which is the ownership of that gold (or a % of the ownership). The same can be done with debt obligations (as they are 'assets' to the holder on a balance sheet).
Christian Rogers
Landon Harris
Rip all supply chain tokens
Colton Brooks
Thanks
Asher Rivera
does this mean my beanie babies are securities?
am I gonna get arrested?
James Fisher
is link a security?
Adam Wilson
Justin King
But crypto is a big PnD?
David Jackson
No fool. You use it in nodes yourself to make gainz.
Or not b/c fat fingered burger, but that is the main usecase.
While Eth, you buy it, dance on Despacito, Vitalik works to improve the network and you make gainz.
Levi King
If I understood correctly, link should be a special case, because its development is quite centralised, but it wouldn't be a problem unlike ETH because ETH has already mooned, and anybody who buys link can literally have no problem expecting it to go up eventually.
Jeremiah Reyes
if "devs working to improve the network" is an argument for being a security then link is in the same boat as ethereum.
Jackson Martin
A contract, transaction or scheme whereby a person invests his money in a common enterprise and is led to expect profits solely from the efforts of the promoter or a third party.”
So an asset is considered a security if the asset is tied to an enterprise, with the expectations that the enterprise will make profits.
As ETH isn't tied to a specific enterprise that promises to make profits, it can't be considered a security. It acts more like a commodity such as gold or even just like a normal product, like a car. Just like how you buy a car to drive and go from point A to B, you need to buy ETH to create dapps, and use the network.
Michael James
Commodities which requires a (((Broker))) to trade. I'm pretty sure the ones who proposed this discussion are big AIPAC members too.
Leo Williams
If ETH is a security, who's responsible for the taxes related to the operation of the Ethereum network? What events on the network would count as revenue? Or as new securities being issued?
Grayson Carter
link is more of a security than any other token as it solely relies on sergei to improve it and has no use cases currently
Isaiah Watson
>pos oracle network
>no use cases
Noah Rivera
Link is not a security because you don't buy it with expectation of making profit.
Kevin Hughes
That's wrong brainlet, that's only one portion of the howey test.
Levi Miller
They ponzi schemes
Wyatt Brown
The end usecase is different.
Eth is just hodl and dance on Despacito and make gainz b/c Vitalik.
Link is like bricks you need to stack to own a node and make sweet gainz if you do a good job.
Kayden Garcia
Currently it does not use oracale and has no use cases
Nathan Ward
If you sell now you're selling to the SEC