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Imagine a piece of paper. Like what you'd find in a notebook. Those aren't assets right? So now just imagine a token that has the same functionality. You rece

Imagine a piece of paper. Like what you'd find in a notebook. Those aren't assets right? So now just imagine a token that has the same functionality. You receive a token, it's made of paper like the notebook but does something useful. Should that token, the piece of paper be regulated? Lol yes, it's now money! And all other assets or securities are regulated.

debacle 9y ago
Paper has utility outside of its value. Most coins do not.
- crankylinuxuser 9y ago
  I'd counter specifically with Ethereum or Filecoin. They both represent either computation-time or file-storage-and-bandwidth time. Ethereum could easily represent time on a distributed AWS Lambda. And FileCoin can represent an AWS S3 storage. It just so happens that they both are also cryptocoin. It gets even uglier that the turning-like machine in Ethereum/Solidity also exists, kind of, in Bitcoin. In fact it was because it worked in Bitcoin they developed Ethereum. So technically even Bitcoin can do processing work. Makes everything a bit murkier to be honest.
  - debacle 9y ago
    You're not countering anything. I'm aware of both. The SEC is going to have to decide if these coins having utilities makes up their value. These aren't new concepts. People have been trying to get around regulation for thousands of years.
hobbyjogger 9y ago
Why do you not consider paper to be an asset? Pretty much anything that can be bought and sold is an asset. Yes, that includes notebooks and paper.
gamblor956 9y ago
Your metaphor doesn't make sense. Are you saying that the token lets me write on it and make toy airplanes? Because if so, then the token wouldn't be regulated... If you're saying that the piece of paper represents ownership of something, then the paper is most likely a security or derivative, in which case it is already subject to regulation. A token with the same functionality as this piece of paper would be regulated, and vice versa...

debacle 9y ago

Paper has utility outside of its value. Most coins do not.

crankylinuxuser 9y ago
I'd counter specifically with Ethereum or Filecoin. They both represent either computation-time or file-storage-and-bandwidth time. Ethereum could easily represent time on a distributed AWS Lambda. And FileCoin can represent an AWS S3 storage. It just so happens that they both are also cryptocoin. It gets even uglier that the turning-like machine in Ethereum/Solidity also exists, kind of, in Bitcoin. In fact it was because it worked in Bitcoin they developed Ethereum. So technically even Bitcoin can do processing work. Makes everything a bit murkier to be honest.
- debacle 9y ago
  You're not countering anything. I'm aware of both. The SEC is going to have to decide if these coins having utilities makes up their value. These aren't new concepts. People have been trying to get around regulation for thousands of years.

hobbyjogger 9y ago

Why do you not consider paper to be an asset? Pretty much anything that can be bought and sold is an asset. Yes, that includes notebooks and paper.

gamblor956 9y ago

Your metaphor doesn't make sense. Are you saying that the token lets me write on it and make toy airplanes? Because if so, then the token wouldn't be regulated... If you're saying that the piece of paper represents ownership of something, then the paper is most likely a security or derivative, in which case it is already subject to regulation. A token with the same functionality as this piece of paper would be regulated, and vice versa...