4 ms·

Hate to take the SEC’s side, but once Coinbase started trading DOGE, they lost the moral high ground.

Vervious 3y ago
Well, in a libertarian world, the moral high ground is that we should be able to trade anything -- who is the SEC to tell us what we can't trade? It's almost like freedom of speech. Plus, I don't think consumers should be protected from dogecoin --- no layman in their right mind invests in doge with the expectation of profit (from common enterprise). Bitcoin is more of a security than doge will ever be.
- CPLX 3y ago
  For the most part the SEC doesn’t tell you what you can and can’t trade. It does however have laws around registration of the security, who can and can’t purchase it under a given registration, disclosure rules, conflict of interest rules, and so on.
  - Vervious 3y ago
    > "It does however have laws around registration of the security" This sounds a lot like the SEC dictating what can and can't be traded in the modern day. We can't trade something if there isn't an exchange for it.
- pavlov 3y ago
  > “no layman in their right mind invests in doge with the expectation of profit (from common enterprise)” Influencers pumping the coin on Twitter is a common enterprise. You don’t think people bought DOGE because they hoped those influencers would continue what they were doing?
  - Vervious 3y ago
    I mean, everyone hyping up kale as a supergreen on their social media doesn't make Kale --- the vegetable --- a security. Likewise, people shill GOLD on twitter all the time. Is gold a security? If kale and gold are securities under the current interpretation of the howey test, then the howey test needs to be rewritten.
iraqmtpizza 3y ago
It's immoral to trade in joke currencies? Lol you could have picked any obvious swindle promising to revolutionize finance and announcing fake partnerships with Microsoft or Walmart. At least pick an unregistered security or something.
redox99 3y ago
Why? There is no way DOGE passes the Howey test. It might be the least "security" crypto of them all.
EgregiousCube 3y ago
I think you're probably making a joke about how DOGE is funny, and it is, but if you're not, I'm curious what your reasoning is.
- gmerc 3y ago
  Why don’t you quote the creator of DOGE on the topic.
justinzollars 3y ago
I also rely on congenital, pathological, enthusiastic liars aka politicians to decide what is moral to trade! Thankfully they have our back and have our best interest in mind.

Well, in a libertarian world, the moral high ground is that we should be able to trade anything -- who is the SEC to tell us what we can't trade? It's almost like freedom of speech. Plus, I don't think consumers should be protected from dogecoin --- no layman in their right mind invests in doge with the expectation of profit (from common enterprise). Bitcoin is more of a security than doge will ever be.

CPLX 3y ago
For the most part the SEC doesn’t tell you what you can and can’t trade. It does however have laws around registration of the security, who can and can’t purchase it under a given registration, disclosure rules, conflict of interest rules, and so on.
- Vervious 3y ago
  > "It does however have laws around registration of the security" This sounds a lot like the SEC dictating what can and can't be traded in the modern day. We can't trade something if there isn't an exchange for it.
pavlov 3y ago
> “no layman in their right mind invests in doge with the expectation of profit (from common enterprise)” Influencers pumping the coin on Twitter is a common enterprise. You don’t think people bought DOGE because they hoped those influencers would continue what they were doing?
- Vervious 3y ago
  I mean, everyone hyping up kale as a supergreen on their social media doesn't make Kale --- the vegetable --- a security. Likewise, people shill GOLD on twitter all the time. Is gold a security? If kale and gold are securities under the current interpretation of the howey test, then the howey test needs to be rewritten.

iraqmtpizza 3y ago

It's immoral to trade in joke currencies? Lol you could have picked any obvious swindle promising to revolutionize finance and announcing fake partnerships with Microsoft or Walmart. At least pick an unregistered security or something.

redox99 3y ago

Why? There is no way DOGE passes the Howey test. It might be the least "security" crypto of them all.

EgregiousCube 3y ago

I think you're probably making a joke about how DOGE is funny, and it is, but if you're not, I'm curious what your reasoning is.

gmerc 3y ago
Why don’t you quote the creator of DOGE on the topic.

justinzollars 3y ago

I also rely on congenital, pathological, enthusiastic liars aka politicians to decide what is moral to trade! Thankfully they have our back and have our best interest in mind.