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The difference is that books already exist. It is not about whether a token can rise or fall in value. It is about whether the token represents something that
by stale2002 9y ago
The difference is that books already exist.
It is not about whether a token can rise or fall in value. It is about whether the token represents something that can be bought right NOW, or if it represents a future promise of some sort for something that doesn't exist yet. IE, funding book publishing in this example.
- brucephillips 9y ago> It is not about whether a token can rise or fall in value. Yes, it is. According to the Howey Test.