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The answer to that question is a little like people arguing in court "it depends on what your definition of 'is' is." It seems like a simple question, but it's
by pclmulqdq 4y ago
The answer to that question is a little like people arguing in court "it depends on what your definition of 'is' is." It seems like a simple question, but it's heavily loaded with both future implications and past precedents, and it can be very hard to answer questions like that unless you're prepared to back up your answer. He clearly hadn't done enough research to answer one way or the other.
- latchkey 4y ago> He clearly hadn't done enough research to answer one way or the other. He definitely has, or at least he should have. When ETH switched to PoS things changed, but he hasn't officially updated his opinion on it and wasn't willing to go on record about it at this latest hearing. https://coingeek.com/is-eth-a-security-if-it-wasnt-before-it-is-now/ https://coingeek.com/is-eth-a-security-if-it-wasnt-before-it...
- bushbaba 4y agoYou assume he hasn’t done research. Instead it could be his research found there to not be a clear “good” answer and the response was his way out of making a call at such a relatively early industry stage.
- latchkey 4y ago> You assume he hasn’t done research. That's literally the opposite of what I just said.
- pclmulqdq 4y agoIt sounds like we agree that he should have, but he hasn't.
- latchkey 4y agoThe guy taught courses at MIT on bitcoin and previously shilled algorand. He's done research. Although, oddly, he's never done a crypto transaction. He's probably really good at doing standard SEC things, but I'm really starting to question his role in the cryptodigital economy.
- e63f67dd-065b 4y ago> Although, oddly, he's never done a crypto transaction. As Matt Levine wrote on his newsletter, saying that the SEC must have traded crypto to regulate it is like saying the DEA should have used meth to regulate meth -- if you think the thing is bad, then obviously you should understand it, then ban it, without using it yourself. Now, people can disagree whether the thing is bad, but it would be foolish to assume that the SEC doesn't know how cryptocurrency works. If you look at the career paths and previous work of most of the top bureaucrats at the SEC, you'll see that they were usually involved in a great deal of legislation or had prominent positions in industry doing real projects.
- indy 4y agoYou don't think it strange that the guy who taught a course on blockchains at MIT has never made a transaction on a blockchain?
- thisgoesnowhere 4y agoYou think it's strange that people who are researching cancer drugs have never taken them themselves?
- latchkey 4y agoThe analogy doesn't work. Everyone has money. Not everyone has cancer. Anyone who takes cancer drugs, is doing research. There is no "cure" for cancer (yet).
- indy 4y agoNo I don't think that's strange. A better analogy might be: would you think it strange that someone teaching a C programming class has never compiled a program?
- latchkey 4y agoexactly. would you think it is strange that someone who's teaching a C programming class that has never used a computer?