I can't believe I actually agree with Saylor! https://timestabloid.com/microstrat...says-eth-and-xrp-are-unregistered-securities/ According to Saylor, Bitcoin (BTC) is the only ethical commodity while all other altcoins including XRP and Ethereum (ETH) are unregistered securities. Whereas Brad Garlinghouse and the entire Ripple team are hoping for a favorable ruling in their longstanding XRP lawsuit with the SEC, Michael Saylor noted that Ripple should be shut down by the regulators. The Microstrategy founder, who holds the same views for Ethereum (ETH) stressed that XRP is an unregistered security and not a commodity. He further implied that XRP is not decentralized given that the token has an issuer, which is Ripple, the San Francisco-based cross-border payment firm. ---------------------------------- Opinions from r/cryptocurrency "He's not wrong. All premine, ICO coins are silicon valley start ups with companies and foundations issuing tokens to themselves for free and controlling the distribution like any equity issuance and then hiding behind Bitcoin and blockchain buzzwords to escape silicon valley regulations. Anyone dunking on this truth because they hold these bags and then hating on SBF for issuing his own air tokens, artificially pumping its value controlling both sides of the market are hypocrites. This is how all premine, ICO coins work where insiders give themselves coins for free, sell a portion of it and control both sides of the market in cahoots with centralized exchanges. A lot of this shit is illegal, dirty, unethical and there's nothing decentralized about it. It's corporate fiat. There's also no full and fair disclosures. This is literally what was happening in bucket shops in the early 20th century before it was outlawed in the 1920s by the Martin Act and eventually gave rise to the 1933 securities act. If it was legal, every single company on wall street can issue shares as tokens, use blockchain excuse and escape regulations." Another: "Ethereum foundation centrally premined 72 million eth before a single block was mined of which 12 million was supposedly given to founders for free which is already a lot and it's just an equity issuance where ownership and management control issuance and distribution but if you then look at the sale curve, it follows the mathematical precision of a power function which is only possible if it was all paid out to a single entity or small group of people working in concert. There's a central issuer company with an executive board which holds trademarks, has branding, marketing teams and business plans"
ICO = initial coin offering IPO = initial public offering The design of the ico is derived from ipo The premine on stocks like Uber, Airbnb, Facebook, et al, is that the private equity premine the value for 10 years Then these companies go public and dump on the retail investors who are led to believe they are investing in growth. Sometimes retail public gets saved from scams like WeWork When Ethereum ICO was opened, 2000 Eth for 20 cents a piece The tokens came out and they went down in value to about 10-12 cents for the public to buy Now, they are worth $1,250 for each Ethereum, so ICO participants got $2.5 Million for $400 investment And the early buyers of the Eth tokens also did well
Also applies to Bitcoin. Shitoshi started the Bitcon ponzi and issued over 1 million coins to himself first. He knows he started a scam and that why he remains anonymous.
That is irrelevant. I could have bought Tesla stocks for $5, oh wait, Tesla stocks are securities.... The problem is that a private company was issuing basically a security, they own the brand, control most of the supply, etc. "There's a central issuer company with an executive board which holds trademarks, has branding, marketing teams and business plans"" What Is a Security? The term "security" refers to a fungible, negotiable financial instrument that holds some type of monetary value. A security can represent ownership in a corporation in the form of stock, a creditor relationship with a governmental body or a corporation represented by owning that entity's bond; or rights to ownership as represented by an option.
Wrong. Satoshi announced the design and mechanics of the opern-source Bitcoin software protocol and released the Whitepaper Once the software was released, anyone in the world could have run it and mined bitcoins. The mining was and is required for the blockchain to continue working or the Bitcoin network would cease Satoshi never sold any of the over 1 Million bitcoins he mined
Are you an accredited investor, Pekelo? Only those can purchase pre-ipo ICO was open to anyone, even someone with a net worth of $100 and there was no need to open any account so even an 11-year old could have participated Participation was not limited to putting money out, could be contributing software or marketing efforts ICO was also available to anyone in the world so someone from Thailand, Turkey, Laos, Lebanon, Argentina, Italy could have participated IPO is for the rich and powerful to get richer by using retail US stock investoors as exit-liquidity ICO is open for everyone in the world But ICO is no longer available for the US people because people such as you are offended by it and have complained to the regulators Congrats, you succeeded and any ICO going forward requires KYC When the new bull market in cryptos starts again, you will be left behind again But you always have your next investment in the next pre-IPO ai-powered robotic magical machine in the cloud as long as you have $2M net worth Can you please tell us of this pre-IPO you have invested in that will be trading in the US stock market in 10 years?
...a history and technology fan? Yes, I am. You see posts like that why I put you on Ignore from time to time. You had absolutely no argument why ETH wouldn't classify as a security, you know, the TOPIC of this thread. Instead you come with the usual personal and cultish shit. You have been warned, again...
Oh, I thought you were open to discussing the merits of the global ICO system vs US-only securities system My bad, carry on with your compatriots