everfree

20 ms·

211.
by everfree 3y ago
The US dollar is not a security. They could have a BTC/USD trading pair.
212.
by everfree 3y ago
I've read your comment three times and I've yet to make any sense of it for myself, but good luck to you too. I'm glad you enjoy hunting, growing food, and building things - those are some great hobbies.
213.
by everfree 3y ago
It doesn't mean that companies can't be licensed. It just means that they will move out of the USA (to another country that has strong financial infrastructure but sane securities laws like the UK), get licensed there, and exclude
214.
by everfree 3y ago
So according to you, following the SEC's lead: Selling Bitcoin is legal, selling Solana is illegal, and selling ETH (Ethereum) is in a quasi-state of legal and illegal. Nobody knows exactly why any of this is the case, and that's
215.
by everfree 3y ago
> So you have to ask yourself... why isn't Coinbase making that argument? Coinbase has (obviously) always been a strong advocate of distributed ledger technology, is constantly warning of the ramifications of this software being de-
216.
by everfree 3y ago
> Conmen don’t get given a pat list of what is and isn’t allowed; no one wants to play the “but you saaaaaaid!” game that results. Yes, they do. Civil courts are full of almost nothing besides "but you said" games. You're
217.
by everfree 3y ago
I don't really care. I've got a large enough international stock allocation that if the USA loses its status as the financial capital of the world over the next several decades, I'll be just fine in retirement. Companies like
218.
by everfree 3y ago
I don't agree that a regulatory agency saying "hint hint time to register" for years on end is an effective way to regulate. The first step of effective regulation is to state exactly what is out of compliance, which they fin
219.
by everfree 3y ago
If a company can't use a piece of accounting software that's gaining worldwide relevance, that's the company's problem. If an entire country can't use a piece of accounting software that's gaining worldwide rel
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by everfree 3y ago
> Maybe they’re all in the tiny minority? Coinbase lists less than 300 of the tens of thousands of cryptocurrencies out there - indeed a tiny minority of them, and they do have some kind of legal review process, so while that claim may w
221.
by everfree 3y ago
Sorry, I confused Coinbase Earn (staking services) with Coinbase Lend, which was a previous loan product of theirs that was targeted and shut down by the SEC in 2021. Still, Earn may well be a security, but that's a product that will f
222.
by everfree 3y ago
My understanding is that the corporate framework that securities licenses require is literally impossible to satisfy when trading current public blockchain assets. As in, to trade crypto as a security on your exchange, you would need to wal
223.
by everfree 3y ago
Bitcoin has a centralized development team who is focused on increasing the coin's value. By writing more efficient clients, coordinating soft forks, and curating standards, the Bitcoin Core dev team is directly supporting the asset. S
224.
by everfree 3y ago
(Removed, I had confused Coinbase Earn with Coinbase Lend.)
225.
by everfree 3y ago
The question is whether a procedure to become a registered exchange of crypto securities exists, and that promise seems to be a lot more dubious. Coinbase doesn't care if it can offer its customers shares of AAPL or TSLA. They care w
226.
by everfree 3y ago
"Vast majority" isn't clarity. "Here is how we interpret the Howey test in relation to cryptocurrencies, and here is a ten step process for how we determine whether each particular cryptocurrency is a security" is c
227.
by everfree 3y ago
That's a good point. It sure would be helpful if Gary Gensler elaborated on his reasoning, rather than handing down his opinions with no explanation.
228.
by everfree 3y ago
The Howey test is applied to the current status of an asset. It doesn't take an asset's origins into consideration. If you believe that Ethereum currently represents "an investment of money in a common enterprise with a rea
229.
by everfree 3y ago
I stopped reading the article when it started comparing cryptocurrency exchanges to the business of selling heroin. No matter your opinion on the issue, that's just alarmist nonsense. I agree that it's reasonable to apply existing
230.
by everfree 3y ago
Gatekeeping which widely-used new software counts as “technology” and which doesn’t seems like a strange hill to die on.
231.
by everfree 3y ago
> that doesn't mean crypto companies should have free reign to do whatever they want for the sake of "innovation." As a company, you're allowed to do anything that is not illegal. Law is not a whitelist of what you&#x
232.
by everfree 3y ago
I literally have never heard of any US-based bank that has a smartphone app that doesn't let you deposit a check.
233.
by everfree 3y ago
It's almost as if "crypto bros" are not a hive mind, but are ordinary people who hold unique and conflicting sets of beliefs.
234.
by everfree 3y ago
The smart-contract exchanges agree on the same prices too, though. They can't lie, because the entire exchange is public record on the blockchain. Uniswap, Cowswap, Kyber, Balancer, they all agree.
235.
by everfree 3y ago
You hold "an IOU from a market"? I'm not sure that's how that works.
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by everfree 3y ago
> Serving video is just expensive, period. That's part of it, but not the whole story. Network effect is a bigger force. People publish on YouTube because there's a large viewership, then YouTube gains viewership because people
237.
by everfree 3y ago
I really wish YouTube would stop hosting everyone's videos, all at once. Just give ample notice, then disappear. It would be a painful event, but we'd finally get some much-needed competition in the video hosting space.
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by everfree 3y ago
Imagine a bound notebook, like a student would use in school. At the end of the semester the book is full of writing, but in practical terms it doesn't weigh more than it did when it was blank. The iPod has a tiny notebook inside that
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by everfree 4y ago
> Casinos at least have equivalent cash on hand to encash them. Stablecoin issuers are printing them out of thin air. I'm sorry but you have no idea what you're talking about. I bet you couldn't even name three stablecoins
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by everfree 4y ago
Stablecoins are money. PayPal also quickly attracted scamsters. Some of the world doesn’t have alternatives to PayPal, and sometimes they are not free.

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