Merged Bitcoin - Part 3

psionl0 said:
But the compensation is ETH and not any official currency.

By this logic, you might as well call Monopoly money a security. People play Monopoly to get as much of this "security" as they can get.
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Oh come on.

People can and have, if rarely, bought real estate with ETH or BTC. It has, at a point in time, value for transactions. Monopoly money doesn't work for that, Well, except for Park Place.

Look at the bright side. Blackstone doing the legwork to create an ETF for bitcoin provides a way for people to easily buy/sell a bitcoin tracking proxy just like they have a proxy for all sorts of other ETFs (Exchange Traded Funds). Might even have lower transaction costs. At least for shorter term trades.
 
marting said:
People can and have, if rarely, bought real estate with ETH or BTC. It has, at a point in time, value for transactions.
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But that is not the definition of a security:
A security, in a financial context, is a certificate or other financial instrument that has monetary value and can be traded. *

Securities are generally classified as either equity securities, such as stocks and debt securities, such as bonds and debentures.
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https://www.techtarget.com/whatis/definition/security-finance

So basically, a security is a written interest in something that has value. Assets like gold or BTC don't provide an interest in any other sort of asset.
 
Ripple Labs win's partial summary judgement against the SEC ruling that only the institutional sales of XRP were securities. Bitcoin is even more clearly not a security if this holds up. However, there are still numerous issues associating with exchanges that handle bitcoin.

Securities and Exchange Commission v. Ripple Labs Inc. (1:20-cv-10832)
District Court, S.D. New York

ORDER: granting in part and denying in part 621 Motion for Summary Judgment. For the foregoing reasons, the SEC's motion for summary judgment is GRANTED as to the Institutional Sales, and otherwise DENIED. Defendants' motion for summary judgment is GRANTED as to the Programmatic Sales, the Other Distributions, and Larsen's and Garlinghouse's sales, and DENIED as to the Institutional Sales.
 
Razzlekhan and husband guilty of $4.5bn Bitcoin launder

A husband and wife cyber-crime team have pleaded guilty to trying to launder $4.5bn (£3.5bn) of Bitcoin that he had stolen in a hack in 2016.

Heather Morgan and Ilya Lichtenstein were arrested last year in New York after police traced their riches back to the crypto heist.

While evading police, Morgan masqueraded as a rapper and tech entrepreneur.

As part of a plea deal, Lichtenstein admitted he was behind the hack.
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https://www.bbc.co.uk/news/technology-66390639
 
Fancy that! This must be the first time in the history of the bitcoin threads that the thread actually dropped off the monthly list. Have we really run out of soothsayers who claim that bitcoin will die any second now? What about the "experts" who claim that bitcoin is a scam/ponzi/pyramid scheme?

Not that much has been happening price wise. Over the past year, among its usual price fluctuations, the average price has been slowly grinding upwards. It could be years before the price rises to any level that is newsworthy (don't call that a prediction because then I will be proven wrong and the price will escalate again very quickly).
 
psionl0 said:
Fancy that! This must be the first time in the history of the bitcoin threads that the thread actually dropped off the monthly list. Have we really run out of soothsayers who claim that bitcoin will die any second now? What about the "experts" who claim that bitcoin is a scam/ponzi/pyramid scheme?

Not that much has been happening price wise. Over the past year, among its usual price fluctuations, the average price has been slowly grinding upwards. It could be years before the price rises to any level that is newsworthy (don't call that a prediction because then I will be proven wrong and the price will escalate again very quickly).
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More like even the scammers realize that crypto is a dead horse that there is no point in further beating. Crypto is yesterday's news, all the tech-bro scammers and hustlers are flogging AI these days.

The NFT market has all but collapsed and the big crypto exchanges are about to get beat to death by the SEC, all but dooming the crap-coin market (working around the autocensor here). The barman is turning on the lights and telling everyone it's time to go home.
 
TurkeysGhost said:
More like even the scammers realize that crypto is a dead horse that there is no point in further beating. Crypto is yesterday's news, all the tech-bro scammers and hustlers are flogging AI these days.

The NFT market has all but collapsed and the big crypto exchanges are about to get beat to death by the SEC, all but dooming the crap-coin market (working around the autocensor here). The barman is turning on the lights and telling everyone it's time to go home.
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It looks like the supply of wishful thinking isn't exhausted yet.
 
Strange alliances in the post modern wars.
Turkey might be on song, for example if I put my wages in the bank should they magically be worth :one trillion:
 
psionl0 said:
It looks like the supply of wishful thinking isn't exhausted yet.
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Please be specific, what part of my post do you think is wishful thinking?

Are you saying you think SEC action is unlikely? NFTs going to have a second wind?

Don't be shy
 
TurkeysGhost said:
Please be specific, what part of my post do you think is wishful thinking?

Are you saying you think SEC action is unlikely? NFTs going to have a second wind?

Don't be shy
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NFTs were a dud from the start but this thread is about bitcoin.

And if you think that the SEC is going to destroy bitcoin then that is wishful thinking.
 
psionl0 said:
Have we really run out of soothsayers who claim that bitcoin will die any second now?
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We obviously haven't run out of idiots who can't tell the difference between "eventually" and "any second now". Or maybe they are just liars, trying to re-write the past because the real thing isn't to their liking. Either way they are clearly still here...
 
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