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/biz/ - Business & Finance

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25101110 No.25101110 [Reply] [Original]

How is ETH now a SEC lawsuit waiting to happen?

>> No.25101198

>>25101110
and whom exactly are they going to sue?
stakers?

>> No.25101271
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25101271

>>25101110
Well proof of stake rewards stakers dividends. So it's a security. I always knew Vitalikcoin was going to implode. Just funny to realize this also implies every project built on ETH is destined for the same fate.
One coin to rule them all.

>> No.25101413

the SEC has already said ETH is ok and ETH 2 isn't even out yet

>> No.25101527

>>25101271
They aren't dividends any more than mining. You're doing work through running a mode, even if it's less work. There's even the slashing risk if you do it poorly.

>> No.25101534

>>25101198
>no exchange can list it
now what?

>> No.25101535

not sure how switching to POS would make it a security. You the staker still need to run the software and validate the transactions in order to get the block rewards, just like with POW. Your profits are not dependent on the work of others but rather your own work. How does changing to POS change anything wrt Howey?

>> No.25101646

>>25101534
what about DEXes? buy BTC, change it wBTC then convert that into ETH in places like Uniswap or Idex

>> No.25101817
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25101817

>>25101535
Its a sliding scale

<Commodity>--------------------------------<Security>

PoS pushes you further to the right side of that scale due to "investing/staking money to secure participation in returns"

ETH was already slightly on the right side of this scale due to the premine issue. This now doesn't help the argument and moves the needle further.

>> No.25101856

>>25101646
sure. that can work
eventually converting that to KYC money is going to get harder and harder.

>> No.25101885

>>25101817
>could
could or could not. lots of things could happen. question is why would it

>> No.25101928

>>25101110
ETH was ALWAYS a security they are FUQED

>> No.25101937

>>25101413
>ETH 2 isn't even out yet
staking is already there
ETH lawsuit is a ticking timebomg

>> No.25101943

>>25101198
Mr. Ethereum himself

>> No.25101997

>>25101817
>investing/staking money
I think you mean, investing commodity. Just cause British Petroleum has to own oil in order to operate their equipment to produce more oil, doesn't make oil a security.

>> No.25102016

>>25101527
>They aren't dividends any more than mining.
Legally speaking they are very distinct activities. /biz seldomly takes law serious, that's how Ripple got rekt. Deaf man's ears, guess that's fine.

>> No.25102017

>>25101856
by money you mean fiat?

>> No.25102060

>>25101198
Vitalik

>> No.25102069

>>25101997
good point

>> No.25102100

>>25101885
>question is why would it
I don't know how to explain this to you. The only pertinent question you need to ask is "Who should regulate us?"
There are only 2 answers: CFTC or SEC.
CFTC has "claimed" bitcoin, therefore its safe from SEC interference. The CFTC was previously waffling on ETH saying it was unsure...now this move to PoS strengthens the SECs claim that it is the right regulatory body to regulate it.

You must imagine yourself as a girl about to be raped and there are 2 rapist. One is relatively gentle, they other really likes to rough up his bitches.
You chose badly.

>> No.25102105

>>25101856
>>25102017
This is my fear, made great gains in uniswap this year, wondering if I should convert it all to Btc/Eth in case we see a crackdown on dex trading.

>> No.25102162

>>25101110
It's not. Some faggot wants clicks on their article so they wrote a juicy headline.

>> No.25102163

>>25101997
Great. make that argument to SEC and CFTC and see which one claims regulatory oversight.

>> No.25102226

>>25101110
its not.... whoever told you it is, is a fuckign retard..... the SEC have alreayd seen eth and bitcoin and shrugged them off and accepted them as crypto currencies and said they are not securities... so why the fuck would they go back on that? ... anyone whos told you this is a retard who doesnt know anything

>> No.25102671
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25102671

>Fudding all alts on /b now
Fud accepted. Never selling my eth, fuse