> The sale of an orange grove may or may not be an investment contract. Determining whether or not is governed by the Howie test. I liked the era when people v

> The sale of an orange grove may or may not be an investment contract. Determining whether or not is governed by the Howie test. I liked the era when people vaguely claimed that their coins weren’t a security because securities need to be registered. It had an “I’m not an alcoholic, alcoholics go to meetings” flare to it. I tried to get in on the fun with a vaporware cryptocurrency, OrangeGroveCoin. It got a disturbing amount of investment interest.