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Basically all of crypto passes Howey test for securities: --- start quite --- an instrument qualifies as an "investment contract" for the purposes of the Secu
by illiarian 3y ago
Basically all of crypto passes Howey test for securities:
--- start quite ---
an instrument qualifies as an "investment contract" for the purposes of the Securities Act: "a contract, transaction or scheme whereby a person invests his money in a common enterprise and is led to expect profits solely from the efforts of the promoter or a third party."
--- end quote ---
- Quindecillion 3y agoI agree. All of crypto passes the Howey test for securities. Bitcoin doesn't match that definition though. Who or what entity is the 'promoter' or 'third party' for Bitcoin? There's no registered entity, no (legitimate) foundation, no company, no CEO, no board, no chair. It's just a protocol.
- illiarian 3y agoButcoin's main use case was HODL. You know, in the ancient times of just a few years ago. And now you'd need an electron microscope to find its use cases as money.
- Quindecillion 3y agoNo, just a regular set of eyes. https://btcmap.org/map#3/0.00000/0.00000 https://btcmap.org/map#3/0.00000/0.00000 Maybe try opening them?