Even the original Bitcoin can be considered a security due to its limited supply structure, resembling company shares or units in a closed-end fund (CEF). A CM

Even the original Bitcoin can be considered a security due to its limited supply structure, resembling company shares or units in a closed-end fund (CEF). A CME economist has pointed out that Bitcoin possesses equity-like characteristics that are often overlooked by investors.[1] Additionally, the premining (or early mining) of 1M bitcoins by Satoshi and the involvement of others in its development and promotion, along with elements of MLM and pyramid schemes, further support this classification. Furthermore, the Nakamoto consensus algorithm, based on Proof of Work (PoW) lotteries, can be seen as an unlicensed gambling operation. -- 1. Bitcoin is a type of equity no one has ever seen before, economist says (Dec. 23, 2017) Bitcoin has equity-like characteristics that are overlooked by investors: CME economist https://www.marketwatch.com/story/bitcoin-is-a-type-of-equity-no-one-has-ever-seen-before-cme-economist-2017-12-22 https://www.marketwatch.com/story/bitcoin-is-a-type-of-equit...