Anything can be an investment. There are laws about gift cards and equity. Cryptocurrency systems are so technically complex and overloaded with ideals, uses,

Anything can be an investment. There are laws about gift cards and equity. Cryptocurrency systems are so technically complex and overloaded with ideals, uses, and philosophies that they can be simultaneously nothing like and everything like these things, IMO. It’s not about what’s right and wrong, it’s just amusing to me that if you want to exploit this particular opinion, as a loophole, the way you’d do it is to make your cryptocurrency sufficiently abstruse. Edit: To be really clear, I’m talking about the opinion that basically says, if your coin functions as equity then it’s equity; if it functions as a gift card, it’s a gift card; but if it functions as a protocol, it’s a protocol, even if it has speculators bidding it up and benefits going to coin-holders — basically a lot of the properties of equities and gift cards that cause them to be regulated.