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"there are not any products or services that can be purchased with Grams" at the time of writing. And I believe omitting the time variable is the greatest omis

• true_religion 6y ago
  Not really. Your security can bootstrap itself into being a currency, but until it does it’s still going to be treated like a security. You can of course negotiate with the SEC, but they would probably require guarantees, and a definite timeline of your plans... not just the promise of success at some indefinite future date.
• djrogers 6y ago
  There is no time variable in play here, it’s either a currency at the time that it’s sold, or it’s not. If it’s not a currency at the time that it’s being sold, then it is being sold speculatively – which makes it a security.
  • thesz 6y ago
    Is it possible for something to be sold "speculatively" and not being a security? Also, can profit be measured not only in money? If so, can something that does not exist be bought to be brought to existence and be profitable and not in money? For me, TON is an alternative to something like Libra, as I said elsewhere. It is basically same PBFT as Libra (thus - close to realtime operation) but it does not have many Libra flaws. And I think that is the point the judge missed.
    • wmf 6y ago
      A big difference is that Libra is supposed to have stable value while TON Grams were explicitly designed to appreciate (3x IIRC). Of course, no one is interested in pre-buying a stablecoin years before launch so you can't fund development that way.