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The SEC doesn't consider BTC a security, so not "like a stock"
by dmarcos 2y ago
The SEC doesn't consider BTC a security, so not "like a stock"
- talldayo 2y agoNot all speculative assets are neccesarily securities. Bitcoin's value fluctuates in a way that makes it's store of value absolutely resemble a stock, albeit with fewer legal protections and guarantees.
- dmarcos 2y agoBTC is volatile but one can argue has more guarantees than stocks. There's no counterparty risk. No company that can go bankrupt or entity that can fail. BTC is property.
- throwaway657656 2y agoAnd companies have intrinsic value. They don't just pointlessly consume resources.
- dmarcos 2y agoNothing has intrinsic value. Subjective theory of value. Some find BTC valuable as a store of value hence it has value.
- sergiogdr 2y agoDoes this apply to ‘things’ such as life, air, water?
- dmarcos 2y agoDefinitely. Value of life is estimated and changes all the time across cultures, in wars, life insurances, technological tradeoffs like cars that kill people but we accept the cost… There’s no universal, intrinsic value to life. It’s us that give it value.
- sergiogdr 2y agoThanks. I agree with you, although question the usefulness of going into what I perceive as a more metaphysical direction. In this sense it is trivial that nothing has intrinsic value. But putting on my more pragmatist hat, I would say that there is a sense in which basic survival is very much universal and unquestionable value. "I don't want to die", "I want to be happy", are pretty much safe assumptions to make across cultures and history (yeah, people commit suicide, hence it is not universal, but still a pretty safe bet and worth to consider 'universal' for all practical purposes).
- dmarcos 2y agoTry to define happiness in a universal pragmatic way. Even basic survival varies acc ross culture and contexts. People die in the millions all the time for their countries, ideas, religions, offspring…
- wmf 2y agoLegally it's a speculative commodity like gold but that difference is not important to most people.
- OkayBuddy44 2y ago[dead]