So all the cryptobros constantly promote BC, ETH, etc as a security but then when security laws come from them, they are like "it's just a currency". Typical of any financial scam.
@@HSBaileySmithwhere the supposed white hat hackers stole some 500million equivalent in real money from the first major project off of the coin. It was covered in the video.
@@SpottedHareslolol def not that. A consensus 50%+ of the miners (thousands of people) agreed to reverse the transaction that was the HACKER stealing millions of dollars.
huh? all of the eth holders voted in favor of the fork. thats exactly how the dao works and is the main principle they stand on. decentralized organization via democracy.
As a nitpick, DAOs do not prevent centralization in the slightest. If at any point someone is able to gain 51% of the tokens controlling them, they gain full control over everything. This has happened numerous times and ended in millions of dollars lost from investors
whether or not a DAO prevents centralization isnt an argument against ethereum, it's an argument against one type of technology on blockchain. generally daos without any safe guards will fall victim to one party owning the majority of the tokens. But, you can build safe guards into the foundation to prevent this and at the contract code level. It all depends on whose running the DAO. Just like there are good and bad companies, there are good and bad DAOs.
Etherum managed to take themselves out of the safe gray zone into being openly a security through the hard fork. They deserve all the regulation that comes their way .
@@jameswhaitiri9357 Oh they're both massive frauds and I'd love to see them end up in jail. But they're the kind of worms that'd run off to Dubai with their stolen money so they can't be extradited.
@@bobbym6130 they mediate access to different online experiences and act as a secure hedge against the traditional banking system, they’re as vaporous as any other digital mediator of value or commodity-like store of value
@@MW-me7vnYou are correct, but it makes no difference. They gain and lose value based on speculation, and the vast majority of ownership is by investors. Nobody is using them to buy anything.
quick!!! sell your ether now cause its going to zero :) Think AGAIN You fool... Ethereum has reached to a point being just a token, NOT Commodity, not Security but only a token. Recently a FUTURES ETF on Ethereum was approved..... THINK AGAIN you fool! Ofcourse its commodity otherwise WHY SEC approved the futures ETF?
Biggest lesson i learnt in 2022 in the crypto market is that nobody knows what is going to happen next, so practice some humility and follow a strategy with a long term edge.
Nobody knows anything; You need to create your own process, manage risk, and stick to the plan, through thick or thin, While also continuously learning from mistakes and improving.
Uncertainty... it took me 5 years to stop trying to predict what bout to happen in market based on charts studying, cause you never know. not having a mentor cost me 5 years of pain I learn to go we’re the market is wanting to go and keep it simple with discipline.
@lowcostfresh2266 The one effective technique I'm confident nobody admits to using, is staying in touch with an Investment-Adviser. Based on firsthand encounter, I can say for certain their skillsets are topnotch, I've raised over $700k since 2021. Just bought my 3rd property for rental. Credit to Laurel Dell Sroufe my Investment-Adviser.
To my understanding this just proves how much we need an edged as an investors because playing the market like everyone else just isn’t good enough. I’ve been quite ensured about investing in this current market and at the same time I feel it’s the best time to get started on the market,what are your thoughts?!
I can’t focus on the long run when I should be retiring in 3yrs ,you see I’ve got a good companies in my portfolio and a good amount invested, but my profits has been stalling,does it mean this unstable market doesn’t provide any calculated risky opportunities to make profits?
There are a lot of strategies to make tongue wetting profits especially in a down market but such sophisticated trades can only be carried out by proper market experts.
The fact that none of these coins can handle being SEC compliant should be a red flag, especially when they all saw it coming and managed to resemble actual securities in everything but name.
The SEC really doesn't 'approve' any thing or entity in the blockchain space, they just inform a party if they're in violation of something. Comically, most of Wall Street is often in violation of a statute or policy, yet they thrive.
A thing that always really gets me is how nobody investing in Crypto seems to either understand or at least call out the fact that DAOs are a centralization of power, just as much as a government is. I get why the creators don't call it out, because they need the buzzword to attract people and their money, and in the business of making money, decentralization is always a negative
@@equious8413 a dao is still centralized. the entity itself is a central point of possible failure. if someone were to get a hold of 51% of the tokens in a dao they can singlehandedly make any change/decision they want. if it was truly decentralized then a majority stakeholder would not be able to hold the entire thing hostage. the only fix to something like that happening would be to have an elected position where someone would have veto power over changes made by the dao. that sounds familiar doesn't it? oh, right, that's what the president does in our government. that's called centralization.
DAOs are very similar to corporations (each securityholder has a vote, and in some cases, a claim on the DAO’s profits or assets). The only difference I can see is that they don’t follow some of the rules that corporations do, particularly around disclosure. If you have a corporation, I can look it up and find out who its directors and principal officers are; not so if you have a DAO. For a DAO, I can see the holders’ wallet addresses, but not their real names.
@@alexkenjeev3725 and worse, if you really want to, you can split your voting power between multiple wallets, if they wanna obscure their power even more.
Ethereum Foundation did not start working on proof-of-stake because of Cardano. Vitalik wrote about switching to proof-of-stake in 2014 already. Cardano launched in 2017.
Appreciate the video, but if it was a "massive waste of money and resources" the incentive for miners to actually mine and keep the network alive is gone. No one would mine it. Network would collapse. The simple fact the miners are mining it is the proof that there is value to the miner, which comes usually but not exclusively in the form of profit. If it is value to the miner, it literally can not be a "waste of resources". The one determining whether it is profitable or a waste of resources, is the miner. I know this because I used to mine when I saw value in ETH which disappeared at ETH2.0 plan release. I understood I can no longer trust ETH to be secure, as the system changed to be "fat cat gets fatter" type of system. You require money to make money, just like traditional finance. No or minimal investment in equipment, just money sitting there swishing around like a laundromat, collecting a rev split. Now I do not mine anything, and just play games.
How can Ethereum possibly not qualify as a Common Enterprise when eth holders are VOTING on whether certain changes should be made to it? That alone makes it a common enterprise.
What makes BTC not a speculative security (or a synthetic commodity) and the other's one? People with power and (real) wealth have bought it and don't want to see it vaporized with the rest of this scam.
Securities (unlike commodities) have an issuer entity (at least in US) so they are centralised by definition. The problem with Ethereum is they want it both ways - they want to be decentralised yet keep control over the software, they want to be money which needs to be fungible but also support NFTs... Bitcoin is a protocol implementing commodity money in a digital world, similar to e-mail implementing paper mail service. The commodity is tied to energy (or 'work' if you wish) to make it hard to produce, i.e. scarce. Yes you can run different PoW protocol, but it's acceptance will be limited. Monero is one such protocol. But it's like languages (communication protocols) - you are not incentivized to learn new language unless it will bring you significant gain (e.g. living in foreign country, doing business abroad). The term speculative is irrelevant - all commodities and securities are more or less speculated upon.
@@LiborTinka Real commodities and securities are based upon tangible assets that have utility and intrinsic value. Cryptos are exclusively synthetic that have no value other than their speculative future value. Their scarcity is entirely artificial in order to make future fabrication of them difficult in order to engineer that future value increase. No bitcoin is not a currency. It has less practical utility as one than if they had produced serialized 3D printed coins (because that was "work" too). It was an elaborate scam that was enabled by the greed of those who knowingly or ignorantly facilitated it.
@@rars0n If Bitcoin fails, they all fail. Esp. the ones who have zero chance of every becoming a medium of exchange and are purely a vehicle for speculation.
Even the "use case" of nfts as provided by stockx is completely worthless. The centralized company provides the exact same service as every collectible card/game/etc. appraiser, and none of them need nfts
I do agree with you on the impracticality of NFTs but from a marketing perspective the way they leverage human psychology to attribute massive value to a blockchain gimmick is genius. The elusive value of these NFTs sparks a sense of curiosity and urgency within a person and makes them want to know exactly what their missing out on. While fulfilling their curiosity is gratification in itself, the exclusivity factor and technical bar/“qualifications” of owning these elicits many other psychological rewards including a sense of belonging and importance. It’s really a shame the way blockchain technology is being used and the negative light being casted on it, what we’re looking at has the potential to become one of history’s greatest inventions that could set us free from the governments responsible for some of the greatest atrocities in history without us living like completely ungoverned savages
@SannibalBarca This specific use case for NFTs holds no value. You're already relying on a centralized company to ensure that the NFTs are one to one with the shoes. Because you're already requiring a centralized authority for them to function there's no added value in being NFTs as opposed to just a database from the company, which would lower the transaction costs and environmental impact of the system as well. Besides, it's not "digital ownership" but a digital verification that the physical object you own is authentic
@SannibalBarca it's worthless because no one but the owner gives a shit. Artists create certificates of authenticity/ownership, if someone bought a digital version of a painting of mine I would just send them a CoA (through the mail if they're fine with it, or a photo of it with watermark overlay through email if not) with the edition, time/date, materials, copyright info and name of buyer. No one actually checks who used to own or who does own a given NFT, the only people who look through collections are the collection owners. It's a braggart's hall of fame. Games come with a digital license. Digital works come with a receipt and proof of access to the file with a date. You prove you bought a given album off of bandcamp by looking at your bank statement. But when is the last time you had to prove you owned something? Even furries, the people who arguably purchase the most digital art don't do that. Why waste the electricity or money when a database combined with context, bank statements and metadata works fine?
@SannibalBarcaNFTs have nothing to do with "digital ownership" you have proof to the ownership of a signing key to a URL that may link to a jpeg hosted on someone else's server. You own literally nothing with an NFT.
They do have use cases for things like receipts, tickets, verification, etc. Sadly NFT is mostly know for ugly monkey pictures which is about the lamest things NFT is used for.
I love how everyone held up the idea of using a Token to validate the authenticity of luxury goods. Like no one would buy a fake version of their real good and then just sell that along with the NFT for profit... The whole system would be fucked in a week. Especially if there was a was a way to steal tokens like there ofyen is. Absolute insanely stupid.
Also, who verifies the issuer of the token? I could mint my own genuine Rolex NFT and sell it, but it doesn't mean that it is a genuine Rolex, and it would definitely be illegal for me to do it.
@@MrGruzefix To add to your point, they could link it to serial number but then that's just another serial number basically. the only ppl who would be interested in the NFT pointer would be random blockchain users who want to see what the serial number of a watch on a certain token is, which makes no sense lol.
He was right about that one. He is wrong about his own coin and just putting profit into his own pocket by changing the rules to benefit mostly him and rich people.
nah, a scam implies it is impossible to make money. casino is more accurate. it's possible to make money, especially if you know how to play the market, it just isn't very likely.
"They moved their operation that has "relaxed" financial regulations " " We are definitely involved in criminal activity and there is a decent likelyhood your money isn't safe with us"
@@equious8413 it does...just think about it for a second or so.. cost to implement attack is buying a token that may even increase in value if you fail. Vs buying enough hardware to control 51% of the network, that can only be sold 2nd hand if you fail. also... 51% attacking a PoW chain means you need to stay in contol... you dont need control of the whole network to censor txns in PoS..just enough to generate enough ETH to eat the slashing effects
A similar issue against XRP was recently thrown out. And that was when XRP directly used language that it has similarities in utilization similar to an investment security. So the loss against XRP may make it tricky to go after Ether for similar things. Have no skin in this game, just putting up a counterpoint missed in the video.
@@WorldinRooView Wrong, the appeal has NOT yet been filed. They only mentioned they disagree'd with the judge's ruling, which speculates they will appeal eventually.
I think the real issue here is why people use cryptocurrency in the first place. Most of them use it for gambling, hoping to earn big by investing small. Sadly, this only creates zero sum game. If Ethereum were to be banned, people would just switch to inv.. gamble with other things.
I had hopes it could be used to donate to grassroots dissident groups in authoritarian countries without govt intervention or exposing the transfer of funds, but then people realized they could make money off of it and started treating it like the gd stock market.
@OffGridInvestor a suite mate traded penny stocks between classes all of first semester at college. When preparing taxes over Christmas break he realized Ameritrade was making more money than him so he stopped. The "I just made $300" days were negated by the $100 loss days and commissions.
If they view securities as anything that can potential provide profit then literally every crypto is a security theres no way anyone who buys bitcoin now doesnt expect some type of profit in the future from appreciation. like wtf lol
I think it has to tick both the profit box and common enterprise box, which Bitcoin doesn't, as the original creator has vanished. It should still be regulated to all hell and back
at this point, it's clear that this blockchain technology won't replace the traditional system completely. it will always be the second best option when you can't use the traditional way.
@@donaldlyons17 I can send any where in EU with out fee and when I sent a few hundred Euros to Asia it only cost a bit over a Euro, so I am in no hurry to tear down the entire backing system as you suggest
@@jimpaddy79 Well in the Euro zone I am sure it is cheap. However sending money to sanctioned places is not simple as I am sure you already know. Having alternatives allows for options not normally available. So no I am in a rush for as many options as possible. I want making a business as simple and easy as possible everywhere.
@@donaldlyons17 unless you're desperately trying to smuggle or launder money, there is no need to break down the current working system for a worse version of it. The only difficulty under the current system is transferring money to sanctioned countries, but if you're a legitimate entity, why are you in such a hurry to want to transfer money to and from there in the first place?
Fun fact: Vitalik hold the record of highest number of ignored Ethereum proposals... So you're just spouting BS... Do better research. The roadmap was not actually proposed by Vitalik, he simply highlighted it. Do better.
that insurance use case would NEVER come to pass. insurance companies are not in the business of paying out on policies, and no insurance company would ever accept a smart contract that would pay out without the insurance company trying as hard as they can to not have to pay it for months or years first.
At that time in history, the documents had to be rewritten immediately in order to be dispersed to affected persons, in this case to all 13 original states & several other "copies". Therefore, yes, it was an "original copy".
It's like if I write down 10 documents that are all the same because I need to send it to 10 people. The first one I write is truly the original but the other nine made almost at the same time are almost the same, so they are original copies. Let's say Armani makes a jacket for a fashion show and than asks his staff to make 1000 more, exactly the same, for sale. They are all "original" Armani jackets but the first one is more original than the rest as the rest are "genuine copies of the prototype".
@@Okay-timeno one wants eth, it doesnt work its slow unscalable these businesses are just riding the fame wave wbere the money is "attention". Algorand xdc are way better in every way compared to eth
If you sell some nikes to someone because you convinced them that they might be able to resell them later at a higher price and not because they want to actually wear the shoe (or just put it in a case and admire them) then you have sold them an item acting as a store of value... you sold them a security.
As much as I dislike BTC for forking away in 2017 and destroying the chain of signatures making scalability impossible, I disliked Etherium grom the start because it's a non-scalable security by design.
This is why the creator of Bitcoin was a genius. He knew the gov would try to take down Bitcoin by regulating it. So he just dumped it on the open market and left. Im confident now all these Cryptocurrencies will fall, and Bitcoin will be the last standing
"No one can change the functionality or chemistry of gold" You're conflating ETH with the Ethereum network. Gold didn't change, the systems supporting the gold market changed.
The possibility of human error or corruption is brought up a lot as far as the advantage of cleptocurrency and the blockchain, but my Outlook crashes on me ten times a day. The whole system is founded on a technologically complex infrastructure that is going to have technological failures. Just forgetting or losing or somehow corrupting a password would be a life-altering event in the cryptic economy. Especially in a decentralized system with no admin or policing. Only, obviously, it will eventually get centralized around the people that control most of the coinage. It will warp and awkwardly wrap itself around them just like our economy does the same for the people that control the real money. The users are (at present) human. If anything, I think the users are the most likely group to err. History so far seems to suggest that the first error anyone makes in crypto is to play around with it and try not to be left holding the bag.
Yea that’s can only work if it doesn’t get lobbyist behind it. At this point the top cryptos BTC and ETH have already been bought in my big banks and companies. If you going by that logic the same can be said for stocks. The stock market works the same way the crypto market those. Some are valid/validated by top companies while other are penny/shit coins get shorted or have no volume. The fact that at this point BTC has futures in the stock market stands as it self as validation.
The party with the most money will have the voting power and impose their decisions over the smaller owners. It seems the opposite of what the ethos of crypto/decentralization claims to be.
@@tucoramirez9557 Exactly, like almost all of the "new" technology, it simply replicates the historical problems of the old tech. Crowdsourcing apps like uber or doordash are running up against the same issues taxis and teamsters faced in the 20th century. Social media is simply amplifying and accelerating the same problems "traditional" media encountered, and cryptocurrency is following the same path as paper money. Rather than something like Bernie Madoff or even Charles Ponzi, the crypto and FTX scandals have more in common with the "wildcat banks" from the free banking era in the early 1800's.
@@tucoramirez9557 That's because that was the original intention for crypto, but it was quickly hijacked by people who only ever saw it as an opportunity to make money, so now "decentralization" is just a buzz word to get anti-authority people onboard with their actual, worthwhile money
ETH did an ICO that makes it a security. Clayton mentioned “outside of the ICO, Eth is not a security”. What did he mean except for the ICO? He tried to remove the very thing that made it a security
The coins that aren't securities tend to fall into the bucket of commodities and regulation of commodities falls under the CFTC not the SEC. If you generate the token by doing work, it's a commodity. If someone conjures a bunch of tokens out of thin air and sells them to people they quickly end up in the "security" bucket. ("I expect this to be valuable because someone is building a system that will make it valuable" is the key trigger for securities.)
But in reality all of them are "securities" because they exist as synthetic commodities that are only "mined" by the collective enterprise of crypto traders on the speculation that they will appreciate in value to be sold for profit. Cryptos are the worst of both worlds and should be regulated both ways.
About 5% of my portfolio is in uranium stocks, any suggestions for any other stocks that would allow me to increase my $200,000 capitalization to $1,000,000?
This is channel clearly tries to stir the pot with hot takes but lots of what it says is very poorly framed. No mention of the ripple lawsuit which is clearly the closest analog to this subject at hand. This is a complex nuanced subject with this video trying to make the point that Vitalik controls Eth but ultimately he is a person a lot of people are following. To say Eth is centralized is non-sense and then to use that as the reason it is a security is just flat stupid. Ripple is far more centralized and they are going to win their lawsuit (again, nothing about that in this video because it doesn't help his point). Not very well researched click bate pure and simple.
The argument of they make good shoes so you'd trust them with your data is stupid. Nike makes great shoes but they get hacked often. Their warehouses get robbed often. I'll buy some Nike SBs but I'd never trust them to keep anything safe/secured. Same with Almost and Enjoi. My two favorite skateboard deck companies. I'd never trust them with my personal information because they've had issues with hacks. Lakai is my main shoe company and I'd never trust them with my data. Companies who aren't security focus or IT focus, as in it's their main business, would never keep up with keeping your information secure. We've seen this with companies that keep rare collectables and info on them in the private market getting hacked and exposing who has what so they can go rob them. Hell Nvidia, MSI, Gigabyte, and Asus all had major breaches that resulted in GPUS getting stolen from trucks to uploading viruses via patches. Those are computer hardware companies.
Vitalic Buterine should get into the over the counter anti inflammatory medicine market. His name sounds like the ultimate NSAID. I have a killer headache, I need to take a Vitalic Buterine.
Actually, smart contracts cannot call API's, they all live in isolation. What you can do is pay someone to periodically write weather data into the contract. There's no obligation for this other party to do so or submit truthful data.
The common enterprise argument completely disregards that the developers on and for ethereum aren't colluding, they aren't an enterprise. I develop on ethereum, am I part of this enterprise? When should I expect a payout?
I know it's old fashioned, but I'll stick with real gold, real stocks, etc, and leave the magic virtual coins to the hype patrol. In the real world, BTC went from $60Kish to $30Kish the past couple years -- NOT to $300K or a cool $million as the MANY UA-cam pumpers were insisting would be the case...
When exchanges became more than trading your stuff, then they became actors, and promoters. When you stored your stuff with them, instead of having your own wallet, they pounced on your assets. Whether you liked it or not, they loaned your stuff to someone who had no assets.
@@puppetmaster1403 By centralized I mean that Ethereum is more centralized than for example Bitcoin and by inefficient I mean that every smart contract has to be calculated by every single node. Also the increasing complexity of Ethereum looks messy. I even think Bitcoin could be made more decentralized without any organization involved in its development. Compare with for example IPv4 which of course is a simple standard but set in stone. Also the RISC-V basic standard is set in stone.
"The lack of real world utility may be the least of ethereums concerns" lol its not even magic beans. Its a reciept for magic beans you never receive. Hahahahahhahhahahahaha
He really was just playing all sides of the situation to favor himself. It could include adding regulation or deregulation depending which angle he was working at that moment.
SEC knew what he was upto, they were more then likely on his side, untill the federals got hold of it, and i hope justice gets served to Eth and sec they both deserve a good sentence behind bars. Hinman also.
The example relating Ethereum to a weather app betting platform is perfect. Enron’s supposed revenue-generating business in the 90s was very similar to that. We only found out later that it made very little money since the contracts were not nearly as valuable as the Wall Street thought they were. Still, a big reason Enron was able to continue as long as they did was the complicity by their external auditor Arthur-Anderson
yeah, I was thinking along those lines, nike sells f@uck1ng clothing, things that have absolutely no real world appreciable value unless you have a mental condition.
I didn’t consider the argument that the “common” in common enterprise doesn’t have to mean a group of individuals legally bound by a corporate entity, but also any group of individuals meaningfully working towards a common goal (in this case making ETH go up)
The U.S. government transferred a lot of btc to coin base what was the transaction a sell to coinbase? Or a place to hold it so they can sell off whenever?
Charles hoskinson only worked on etherium for almost a month. I don't think that constitutes calling him a co founder of etherium. Gavin wood on the other hand is.
So all the cryptobros constantly promote BC, ETH, etc as a security but then when security laws come from them, they are like "it's just a currency". Typical of any financial scam.
Is it fake digital Monopoly money or a security? Choose one lolol
The DAO hard fork showed just how dedicated crypto advocates are to their principles, not even slightly.
What was the DAO hardfork can you explain
@@HSBaileySmithwhere the supposed white hat hackers stole some 500million equivalent in real money from the first major project off of the coin. It was covered in the video.
What is this "Crypto" you speak of? There is only Bitcoin and Shitcoin. Buy bitcoin, don't touch shitcoin.
@@SpottedHareslolol def not that.
A consensus 50%+ of the miners (thousands of people) agreed to reverse the transaction that was the HACKER stealing millions of dollars.
huh?
all of the eth holders voted in favor of the fork. thats exactly how the dao works and is the main principle they stand on. decentralized organization via democracy.
Dogecoin is considered a joke, not a security.
Yet, it can still cause people to make n lose money, hence its a security.
Dollar is a joke too, but it's doing just fine.
😂🎉❤
@@Salman-Bin-Ahmedthat’s not how the law works 😂
4 legs to the Howie Test 🤔
As a nitpick, DAOs do not prevent centralization in the slightest. If at any point someone is able to gain 51% of the tokens controlling them, they gain full control over everything. This has happened numerous times and ended in millions of dollars lost from investors
Thank you for saying this so I didn't have to 👍
whether or not a DAO prevents centralization isnt an argument against ethereum, it's an argument against one type of technology on blockchain. generally daos without any safe guards will fall victim to one party owning the majority of the tokens. But, you can build safe guards into the foundation to prevent this and at the contract code level. It all depends on whose running the DAO. Just like there are good and bad companies, there are good and bad DAOs.
WELL AKCHUALLY…
kinda like how ETH2.0 is based on how much ETH you have staking (aka laundering) - I wonder who benefits from this the most...
@@fmo94jos8v3 if staking is laundering then anyone who gets dividends from stocks is laundering.
Etherum managed to take themselves out of the safe gray zone into being openly a security through the hard fork. They deserve all the regulation that comes their way .
Vialik and lubin both deserve a cell with SBF. For double the time.😂
@@jameswhaitiri9357 Oh they're both massive frauds and I'd love to see them end up in jail. But they're the kind of worms that'd run off to Dubai with their stolen money so they can't be extradited.
Can’t be fake digital money and a security. Choose one
@@Dalex3 it's a security sold under the guise of being fake digital money to keep regulators off their back.
You know Bitcoin hard forked 2 times right? Both due to an inflation bug
As Robert Evans pointed out, all that is good about blockchain was present ten years earlier in Git.
Ethereum and the like are not securities, they are not assets, they are vapor.
False they’re cryptographically unique digital assets
They are securities, just like a CDO built on subprime mortgages issued with no documentation, they're securities built on vapor.
@@bobbym6130 they mediate access to different online experiences and act as a secure hedge against the traditional banking system, they’re as vaporous as any other digital mediator of value or commodity-like store of value
@@MW-me7vnYou are correct, but it makes no difference. They gain and lose value based on speculation, and the vast majority of ownership is by investors. Nobody is using them to buy anything.
Let's be honest, the main use case for Smarty Contracts was rug pulls.
quick!!! sell your ether now cause its going to zero :) Think AGAIN You fool... Ethereum has reached to a point being just a token, NOT Commodity, not Security but only a token. Recently a FUTURES ETF on Ethereum was approved..... THINK AGAIN you fool! Ofcourse its commodity otherwise WHY SEC approved the futures ETF?
You don't understand cryptocurrency
Cbdcs are the future and many countries and companies are using erc20 standard
Biggest lesson i learnt in 2022 in the crypto market is that nobody knows what is going to happen next, so practice some humility and follow a strategy with a long term edge.
Nobody knows anything; You need to create your own process, manage risk, and stick to the plan, through thick or thin, While also continuously learning from mistakes and improving.
Uncertainty... it took me 5 years to stop trying to predict what bout to happen in market based on charts studying, cause you never know. not having a mentor cost me 5 years of pain I learn to go we’re the market is wanting to go and keep it simple with discipline.
@@TomD226 Impressive can you share more info?
@lowcostfresh2266 The one effective technique I'm confident nobody admits to using, is staying in touch with an Investment-Adviser. Based on firsthand encounter, I can say for certain their skillsets are topnotch, I've raised over $700k since 2021. Just bought my 3rd property for rental. Credit to Laurel Dell Sroufe my Investment-Adviser.
Everyone knew that the crypto bull market is cyclical and very predictable. You should've cashed out.
To my understanding this just proves how much we need an edged as an investors because playing the market like everyone else just isn’t good enough. I’ve been quite ensured about investing in this current market and at the same time I feel it’s the best time to get started on the market,what are your thoughts?!
I can’t focus on the long run when I should be retiring in 3yrs ,you see I’ve got a good companies in my portfolio and a good amount invested, but my profits has been stalling,does it mean this unstable market doesn’t provide any calculated risky opportunities to make profits?
There are a lot of strategies to make tongue wetting profits especially in a down market but such sophisticated trades can only be carried out by proper market experts.
@@rileymolnarImpressive
Please how can I reach out to her?
*JESSICA KATHERINE ELLIS* is easily searchable on Google. She has extensive knowledge of the financial market.reach out to her through her Google page
The fact that none of these coins can handle being SEC compliant should be a red flag, especially when they all saw it coming and managed to resemble actual securities in everything but name.
None?
Why do people in this channel enjoy exposing their ignorance and stupidity?
There is no possibility to be SEC compliant because there is 0 legal frameworks that the SEC provides for cryptocurrencies
@@Mysterious1689 not to mention xrp being cleared of being a security which churchy up here failed to mention.
The SEC really doesn't 'approve' any thing or entity in the blockchain space, they just inform a party if they're in violation of something. Comically, most of Wall Street is often in violation of a statute or policy, yet they thrive.
This is why I own 100 Quadrillion Dink Doink, and I will live happily ever after.
Me too, how to spend it?
@@richardpentelow5111 buy Jake Paul's PPV boxing events with it.
you joke but just list the DinkDonkCoin, rug pull in 48h and you may actually walk away with a few thousands of other suckers’ money
@@naysay02I'm all in on DinkDoink!!!!!! Take my money!!!!
A thing that always really gets me is how nobody investing in Crypto seems to either understand or at least call out the fact that DAOs are a centralization of power, just as much as a government is.
I get why the creators don't call it out, because they need the buzzword to attract people and their money, and in the business of making money, decentralization is always a negative
Tell me you don't understand DAOs without telling me.
@@equious8413 how do they not centralize power?
@@equious8413 a dao is still centralized. the entity itself is a central point of possible failure. if someone were to get a hold of 51% of the tokens in a dao they can singlehandedly make any change/decision they want. if it was truly decentralized then a majority stakeholder would not be able to hold the entire thing hostage.
the only fix to something like that happening would be to have an elected position where someone would have veto power over changes made by the dao.
that sounds familiar doesn't it? oh, right, that's what the president does in our government. that's called centralization.
DAOs are very similar to corporations (each securityholder has a vote, and in some cases, a claim on the DAO’s profits or assets). The only difference I can see is that they don’t follow some of the rules that corporations do, particularly around disclosure. If you have a corporation, I can look it up and find out who its directors and principal officers are; not so if you have a DAO. For a DAO, I can see the holders’ wallet addresses, but not their real names.
@@alexkenjeev3725 and worse, if you really want to, you can split your voting power between multiple wallets, if they wanna obscure their power even more.
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Latest Wild FTX Allegations Include Plan to Buy Nation of Nauru
Ethereum Foundation did not start working on proof-of-stake because of Cardano. Vitalik wrote about switching to proof-of-stake in 2014 already. Cardano launched in 2017.
14:38 So true they said it twice said it twice
Appreciate the video, but if it was a "massive waste of money and resources" the incentive for miners to actually mine and keep the network alive is gone. No one would mine it. Network would collapse. The simple fact the miners are mining it is the proof that there is value to the miner, which comes usually but not exclusively in the form of profit. If it is value to the miner, it literally can not be a "waste of resources". The one determining whether it is profitable or a waste of resources, is the miner.
I know this because I used to mine when I saw value in ETH which disappeared at ETH2.0 plan release. I understood I can no longer trust ETH to be secure, as the system changed to be "fat cat gets fatter" type of system. You require money to make money, just like traditional finance. No or minimal investment in equipment, just money sitting there swishing around like a laundromat, collecting a rev split. Now I do not mine anything, and just play games.
How can Ethereum possibly not qualify as a Common Enterprise when eth holders are VOTING on whether certain changes should be made to it? That alone makes it a common enterprise.
What makes BTC not a speculative security (or a synthetic commodity) and the other's one?
People with power and (real) wealth have bought it and don't want to see it vaporized with the rest of this scam.
Agree.
Securities (unlike commodities) have an issuer entity (at least in US) so they are centralised by definition. The problem with Ethereum is they want it both ways - they want to be decentralised yet keep control over the software, they want to be money which needs to be fungible but also support NFTs...
Bitcoin is a protocol implementing commodity money in a digital world, similar to e-mail implementing paper mail service. The commodity is tied to energy (or 'work' if you wish) to make it hard to produce, i.e. scarce. Yes you can run different PoW protocol, but it's acceptance will be limited. Monero is one such protocol. But it's like languages (communication protocols) - you are not incentivized to learn new language unless it will bring you significant gain (e.g. living in foreign country, doing business abroad).
The term speculative is irrelevant - all commodities and securities are more or less speculated upon.
@@LiborTinka Real commodities and securities are based upon tangible assets that have utility and intrinsic value. Cryptos are exclusively synthetic that have no value other than their speculative future value. Their scarcity is entirely artificial in order to make future fabrication of them difficult in order to engineer that future value increase.
No bitcoin is not a currency. It has less practical utility as one than if they had produced serialized 3D printed coins (because that was "work" too). It was an elaborate scam that was enabled by the greed of those who knowingly or ignorantly facilitated it.
"What makes BTC not a speculative security (or a synthetic commodity) and the other's one?"
The Howie Test. Bitcoin fails. The rest of them pass.
@@rars0n If Bitcoin fails, they all fail. Esp. the ones who have zero chance of every becoming a medium of exchange and are purely a vehicle for speculation.
U can only play with fake money for so long… just like monopoly money
You people are idiots.
If luxury goods are very difficult to tell apart from cheap counterfeits, why pay so much for them?
Clout
It doesnt matter, peple stil do. And for them, an NFT emmited by the official maker of the product would add value
Even the "use case" of nfts as provided by stockx is completely worthless. The centralized company provides the exact same service as every collectible card/game/etc. appraiser, and none of them need nfts
I do agree with you on the impracticality of NFTs but from a marketing perspective the way they leverage human psychology to attribute massive value to a blockchain gimmick is genius. The elusive value of these NFTs sparks a sense of curiosity and urgency within a person and makes them want to know exactly what their missing out on. While fulfilling their curiosity is gratification in itself, the exclusivity factor and technical bar/“qualifications” of owning these elicits many other psychological rewards including a sense of belonging and importance. It’s really a shame the way blockchain technology is being used and the negative light being casted on it, what we’re looking at has the potential to become one of history’s greatest inventions that could set us free from the governments responsible for some of the greatest atrocities in history without us living like completely ungoverned savages
@SannibalBarca This specific use case for NFTs holds no value. You're already relying on a centralized company to ensure that the NFTs are one to one with the shoes. Because you're already requiring a centralized authority for them to function there's no added value in being NFTs as opposed to just a database from the company, which would lower the transaction costs and environmental impact of the system as well.
Besides, it's not "digital ownership" but a digital verification that the physical object you own is authentic
@SannibalBarca it's worthless because no one but the owner gives a shit. Artists create certificates of authenticity/ownership, if someone bought a digital version of a painting of mine I would just send them a CoA (through the mail if they're fine with it, or a photo of it with watermark overlay through email if not) with the edition, time/date, materials, copyright info and name of buyer. No one actually checks who used to own or who does own a given NFT, the only people who look through collections are the collection owners. It's a braggart's hall of fame. Games come with a digital license. Digital works come with a receipt and proof of access to the file with a date. You prove you bought a given album off of bandcamp by looking at your bank statement. But when is the last time you had to prove you owned something? Even furries, the people who arguably purchase the most digital art don't do that. Why waste the electricity or money when a database combined with context, bank statements and metadata works fine?
@@sayum8155agreed, the past 12 years have been a case study in gullibility and greed.
@SannibalBarcaNFTs have nothing to do with "digital ownership" you have proof to the ownership of a signing key to a URL that may link to a jpeg hosted on someone else's server. You own literally nothing with an NFT.
NFT were never a real world use case
There are/were some use cases for some projects. You should really check your language with the absolute statements. ie. Never
@@edition-deluxe "Uses" is a real stretch.
@@edition-deluxe for some trash "projects".
They do have use cases for things like receipts, tickets, verification, etc.
Sadly NFT is mostly know for ugly monkey pictures which is about the lamest things NFT is used for.
nfts have fringe use cases where there is very less human interaction is required
I love how everyone held up the idea of using a Token to validate the authenticity of luxury goods.
Like no one would buy a fake version of their real good and then just sell that along with the NFT for profit...
The whole system would be fucked in a week. Especially if there was a was a way to steal tokens like there ofyen is.
Absolute insanely stupid.
Also, who verifies the issuer of the token? I could mint my own genuine Rolex NFT and sell it, but it doesn't mean that it is a genuine Rolex, and it would definitely be illegal for me to do it.
It doesn't help that you don't actually buy the thing, but a token of the thing.
@@katrinabryce i guess in this scenario only Rolex gets to mint the tokens? It's stupid either way
@@MrGruzefix To add to your point, they could link it to serial number but then that's just another serial number basically. the only ppl who would be interested in the NFT pointer would be random blockchain users who want to see what the serial number of a watch on a certain token is, which makes no sense lol.
The fact that Vatalik Buterin arrogantly called XRP is a "ShitCoin" is so laughable.😂😂😂😂😂😂😂
He was right about that one. He is wrong about his own coin and just putting profit into his own pocket by changing the rules to benefit mostly him and rich people.
"Hard fork"....its almost like having some sort of "central authority" has a purpose. Hmmm 😂😂😂
Digital casino 😅. What a nice way to say the entire industry is a scam.
You say that because you bought high and sold low 😂😂
@@lou4752majority of people are bought high sold low
nah, a scam implies it is impossible to make money. casino is more accurate. it's possible to make money, especially if you know how to play the market, it just isn't very likely.
is the audio repeat at 14:37 wrong in the original file or did youtube mess it up?
Remix 😂
Bosch has a verification id system for counterfeit fuel pumps. Long before nfts. Nfts are a solution looking for a problem.
"They moved their operation that has "relaxed" financial regulations " " We are definitely involved in criminal activity and there is a decent likelyhood your money isn't safe with us"
Ethereums proof of stake model leaves it open to manipulation and censored transactions.
If majority say you don't get to keep your money, you don't
🤦♂️
@@equious8413 it does...just think about it for a second or so..
cost to implement attack is buying a token that may even increase in value if you fail.
Vs
buying enough hardware to control 51% of the network, that can only be sold 2nd hand if you fail.
also... 51% attacking a PoW chain means you need to stay in contol...
you dont need control of the whole network to censor txns in PoS..just enough to generate enough ETH to eat the slashing effects
That stock clip of the guy typing at the VSCode welcome screen is so dumb 😂
I think that whole idea of rewriting the blockchain is going to result in Ethereum getting a "Hard Fork" from the SEC !!
rewriting the blockchain shows they exercise control over the centralized ETH2.0 system.
@@fmo94jos8v3 It's the same old story, whatever the revolution to replace the "system" simply installs new keepers of it !!
This take aged well.
Smart contracts? Sounds like a load of BS if you ask me.
A similar issue against XRP was recently thrown out. And that was when XRP directly used language that it has similarities in utilization similar to an investment security. So the loss against XRP may make it tricky to go after Ether for similar things.
Have no skin in this game, just putting up a counterpoint missed in the video.
And a very huge missing counterpoint that makes this video incomplete
XRP is a security.
the SEC is overturning that ruling and re-reviewing XRP….
@@Alex-tm5hr They have filed an appeal on the ruling, yes. But if they fail the appeal against XRP, it could be trickier to deal with Etherium.
@@WorldinRooView Wrong, the appeal has NOT yet been filed. They only mentioned they disagree'd with the judge's ruling, which speculates they will appeal eventually.
I think the real issue here is why people use cryptocurrency in the first place. Most of them use it for gambling, hoping to earn big by investing small. Sadly, this only creates zero sum game. If Ethereum were to be banned, people would just switch to inv.. gamble with other things.
word. i’ve been in the industry. disappointing.
Penny stocks instead
I had hopes it could be used to donate to grassroots dissident groups in authoritarian countries without govt intervention or exposing the transfer of funds, but then people realized they could make money off of it and started treating it like the gd stock market.
@OffGridInvestor a suite mate traded penny stocks between classes all of first semester at college. When preparing taxes over Christmas break he realized Ameritrade was making more money than him so he stopped. The "I just made $300" days were negated by the $100 loss days and commissions.
Did he just say that NFT's represent ownership of real-world assets? That's sure not how I would define them.
If they view securities as anything that can potential provide profit then literally every crypto is a security theres no way anyone who buys bitcoin now doesnt expect some type of profit in the future from appreciation. like wtf lol
I think it has to tick both the profit box and common enterprise box, which Bitcoin doesn't, as the original creator has vanished.
It should still be regulated to all hell and back
at this point, it's clear that this blockchain technology won't replace the traditional system completely. it will always be the second best option when you can't use the traditional way.
@@jimpaddy79 Maybe within your same country. Outside the country you need to pay at least a few fees to transfer to someone else.
@@donaldlyons17 I can send any where in EU with out fee and when I sent a few hundred Euros to Asia it only cost a bit over a Euro, so I am in no hurry to tear down the entire backing system as you suggest
@@jimpaddy79 Well in the Euro zone I am sure it is cheap. However sending money to sanctioned places is not simple as I am sure you already know. Having alternatives allows for options not normally available. So no I am in a rush for as many options as possible. I want making a business as simple and easy as possible everywhere.
@@donaldlyons17 unless you're desperately trying to smuggle or launder money, there is no need to break down the current working system for a worse version of it.
The only difficulty under the current system is transferring money to sanctioned countries, but if you're a legitimate entity, why are you in such a hurry to want to transfer money to and from there in the first place?
@@RichardMcintyre-qu3kuThat is completely unrealistic
The question really is... why wouldn't bitcoin be the same?
Exactly!!!
because alot of very rich people have alot of it 😂
Bitcoin is well known enough that there are actually some uses for it, especially criminal uses
Ok so which hedge fund is buying into eth?
Fun fact: Vitalik hold the record of highest number of ignored Ethereum proposals... So you're just spouting BS... Do better research. The roadmap was not actually proposed by Vitalik, he simply highlighted it.
Do better.
that insurance use case would NEVER come to pass. insurance companies are not in the business of paying out on policies, and no insurance company would ever accept a smart contract that would pay out without the insurance company trying as hard as they can to not have to pay it for months or years first.
why didnt u mention the xrp case once????
An “original copy” of the constitution is such a hilarious concept
At that time in history, the documents had to be rewritten immediately in order to be dispersed to affected persons, in this case to all 13 original states & several other "copies".
Therefore, yes, it was an "original copy".
It's like if I write down 10 documents that are all the same because I need to send it to 10 people.
The first one I write is truly the original but the other nine made almost at the same time are almost the same, so they are original copies.
Let's say Armani makes a jacket for a fashion show and than asks his staff to make 1000 more, exactly the same, for sale. They are all "original" Armani jackets but the first one is more original than the rest as the rest are "genuine copies of the prototype".
Automatic insurance payments if damages? Keep dreaming thats not how insurance companies do make money.
With XRP winning its case, I don't see Etherium losing theirs
Xrp didn’t have an ICO, ETH did… big difference
This will not be considered a security, too much big business now, wanting Eth
@@Okay-time that’s not how it works. Still can lose a lawsuit and continue “doing business”
@@Okay-timeno one wants eth, it doesnt work its slow unscalable these businesses are just riding the fame wave wbere the money is "attention". Algorand xdc are way better in every way compared to eth
Secondary market for Nikes could arguably be a security by his definition.
Yes. So? Investment = security. If you offer Investment products you should be regulated. I wonder why?
Not if you are buying an actual pair of 👟, but if you have a fund that invests in them, that is definitely a security.
If you sell some nikes to someone because you convinced them that they might be able to resell them later at a higher price and not because they want to actually wear the shoe (or just put it in a case and admire them) then you have sold them an item acting as a store of value... you sold them a security.
ITT people who don't understand the difference between securities and commodities
As much as I dislike BTC for forking away in 2017 and destroying the chain of signatures making scalability impossible, I disliked Etherium grom the start because it's a non-scalable security by design.
BTC is mostly traded as avsecurity.
So the SEC approves a Coinbase IPO, and then accuses them of security fraud? Tell me how this makes sense…
Because withholding approval of an IPO cannot be done based on such assessments. These 2 things are not related.
here we go again. the sec does not have the authority to opine on the viability of a business. they assess whether disclosures are adhered to
The SEC wouldn't approve the IPO of an enterprise making 71% of their income from illegal sources, right? RIGHT?
Eth still has no real use case after all these years, guys who got in early sure made a ton of money from a product that has no use though.
Greetings from PERU excellent information
is ETH end in the room with us now?
to be safe, just steer clear from cadaverous peddlers
72 millions Ethereum premined. Enough said.
Can the Nike nft tell me what the child's name was that made the shoe?
This is why the creator of Bitcoin was a genius. He knew the gov would try to take down Bitcoin by regulating it. So he just dumped it on the open market and left. Im confident now all these Cryptocurrencies will fall, and Bitcoin will be the last standing
Update video please
"No one can change the functionality or chemistry of gold"
You're conflating ETH with the Ethereum network. Gold didn't change, the systems supporting the gold market changed.
The possibility of human error or corruption is brought up a lot as far as the advantage of cleptocurrency and the blockchain, but my Outlook crashes on me ten times a day. The whole system is founded on a technologically complex infrastructure that is going to have technological failures. Just forgetting or losing or somehow corrupting a password would be a life-altering event in the cryptic economy. Especially in a decentralized system with no admin or policing. Only, obviously, it will eventually get centralized around the people that control most of the coinage. It will warp and awkwardly wrap itself around them just like our economy does the same for the people that control the real money.
The users are (at present) human. If anything, I think the users are the most likely group to err. History so far seems to suggest that the first error anyone makes in crypto is to play around with it and try not to be left holding the bag.
cleptocurrency xD
Somehow that's insanely accurate.
Yea that’s can only work if it doesn’t get lobbyist behind it. At this point the top cryptos BTC and ETH have already been bought in my big banks and companies. If you going by that logic the same can be said for stocks. The stock market works the same way the crypto market those. Some are valid/validated by top companies while other are penny/shit coins get shorted or have no volume. The fact that at this point BTC has futures in the stock market stands as it self as validation.
The party with the most money will have the voting power and impose their decisions over the smaller owners. It seems the opposite of what the ethos of crypto/decentralization claims to be.
@@tucoramirez9557 Exactly, like almost all of the "new" technology, it simply replicates the historical problems of the old tech. Crowdsourcing apps like uber or doordash are running up against the same issues taxis and teamsters faced in the 20th century. Social media is simply amplifying and accelerating the same problems "traditional" media encountered, and cryptocurrency is following the same path as paper money. Rather than something like Bernie Madoff or even Charles Ponzi, the crypto and FTX scandals have more in common with the "wildcat banks" from the free banking era in the early 1800's.
@@tucoramirez9557 That's because that was the original intention for crypto, but it was quickly hijacked by people who only ever saw it as an opportunity to make money, so now "decentralization" is just a buzz word to get anti-authority people onboard with their actual, worthwhile money
Lets take a moment to thank the ignorant millions that make rich people richer while they collect the crumbs
ETH did an ICO that makes it a security. Clayton mentioned “outside of the ICO, Eth is not a security”.
What did he mean except for the ICO? He tried to remove the very thing that made it a security
Putting money into bitcoin or ethereum with all this uncertainty seems to represent maximum risk and reward, with prices lower
The coins that aren't securities tend to fall into the bucket of commodities and regulation of commodities falls under the CFTC not the SEC.
If you generate the token by doing work, it's a commodity. If someone conjures a bunch of tokens out of thin air and sells them to people they quickly end up in the "security" bucket. ("I expect this to be valuable because someone is building a system that will make it valuable" is the key trigger for securities.)
You could have stopped on the 8th word😂
But in reality all of them are "securities" because they exist as synthetic commodities that are only "mined" by the collective enterprise of crypto traders on the speculation that they will appreciate in value to be sold for profit. Cryptos are the worst of both worlds and should be regulated both ways.
About 5% of my portfolio is in uranium stocks, any suggestions for any other stocks that would allow me to increase my $200,000 capitalization to $1,000,000?
You should buy and hold technology stocks
Bitconnect
you need to find a guru mentor here in the comments, thats the only way
Imo Proof of stake and proof of whatever sound like proof of scam and proof of pumper.
It’s a year later…. Still not ended….
Great content and thoughtful approach to weight against crypto permabulls. Thanks!!
This is channel clearly tries to stir the pot with hot takes but lots of what it says is very poorly framed. No mention of the ripple lawsuit which is clearly the closest analog to this subject at hand. This is a complex nuanced subject with this video trying to make the point that Vitalik controls Eth but ultimately he is a person a lot of people are following. To say Eth is centralized is non-sense and then to use that as the reason it is a security is just flat stupid. Ripple is far more centralized and they are going to win their lawsuit (again, nothing about that in this video because it doesn't help his point). Not very well researched click bate pure and simple.
The argument of they make good shoes so you'd trust them with your data is stupid.
Nike makes great shoes but they get hacked often. Their warehouses get robbed often. I'll buy some Nike SBs but I'd never trust them to keep anything safe/secured.
Same with Almost and Enjoi. My two favorite skateboard deck companies. I'd never trust them with my personal information because they've had issues with hacks.
Lakai is my main shoe company and I'd never trust them with my data.
Companies who aren't security focus or IT focus, as in it's their main business, would never keep up with keeping your information secure. We've seen this with companies that keep rare collectables and info on them in the private market getting hacked and exposing who has what so they can go rob them.
Hell Nvidia, MSI, Gigabyte, and Asus all had major breaches that resulted in GPUS getting stolen from trucks to uploading viruses via patches. Those are computer hardware companies.
04:35 had me feeling like I wasn't about to be in Kansas anymore
etherium is now prof of stakes it should make it a security
Bitcoin Prof of work is not security but Commodity
Just stop. You're embarrassing yourself.
Obviously it is a security.
But it's not only Bitcoin. Litecoin, doge, bitcoincash are commodities.
Obviously you don't know anything about the subject. That's pretty clear.
Vitalic Buterine should get into the over the counter anti inflammatory medicine market. His name sounds like the ultimate NSAID. I have a killer headache, I need to take a Vitalic Buterine.
Actually, smart contracts cannot call API's, they all live in isolation. What you can do is pay someone to periodically write weather data into the contract. There's no obligation for this other party to do so or submit truthful data.
Yeah, smart contracts don't live up to their name
the good, bad and ugly...
You know how you can tell the video is informed and unbiased?
D.A.O.
The issue is the even the code of the block chain should be decentralized!
With Etherium’s POS, the Etherium foundation has MASSIVE CONTROL over the protocol…
The common enterprise argument completely disregards that the developers on and for ethereum aren't colluding, they aren't an enterprise.
I develop on ethereum, am I part of this enterprise? When should I expect a payout?
4 months ago, it was around $1600-$1800. Today, it is currently $2199.55. Those are some profitable crosshairs 😂
you said it right there when you said ' we will see who controls it' thats a security
Kind of hilarious to over and over again keep using a clip of Buterin where some dudes keep readjusting his mic
Well those other clips of him made him look "methy" but he is obviously a genius, but man why look like a crackhead, don't get it.
I know it's old fashioned, but I'll stick with real gold, real stocks, etc, and leave the magic virtual coins to the hype patrol. In the real world, BTC went from $60Kish to $30Kish the past couple years -- NOT to $300K or a cool $million as the MANY UA-cam pumpers were insisting would be the case...
Yes because stocks aren't virtual 😂an there's some stupid people in this comment section.
Real stocks have intrinsic value, but real gold has no intrinsic value exactly like bitcoin, it's just a medium for exchange.
Gold is valuable not because it's pretty, gold is the best electricity conductor and also chemically inert.
When exchanges became more than trading your stuff, then they became actors, and promoters. When you stored your stuff with them, instead of having your own wallet, they pounced on your assets. Whether you liked it or not, they loaned your stuff to someone who had no assets.
eth has always been a security
I have always had doubts about Ethereum. It seems like a centralized and inefficient hack to me.
That's what ignorant people tend to say about a Turing complete blockchain - they just don't know wtf they're talking about.
@@puppetmaster1403 By centralized I mean that Ethereum is more centralized than for example Bitcoin and by inefficient I mean that every smart contract has to be calculated by every single node. Also the increasing complexity of Ethereum looks messy. I even think Bitcoin could be made more decentralized without any organization involved in its development. Compare with for example IPv4 which of course is a simple standard but set in stone. Also the RISC-V basic standard is set in stone.
"The lack of real world utility may be the least of ethereums concerns" lol its not even magic beans. Its a reciept for magic beans you never receive. Hahahahahhahhahahahaha
@@emptiester ETH is $1,600+ a token today. At ICO, ETH was .31. I guess you didn't buy - lololololololololololololo
@@puppetmaster1403 so its a reciept for a very very magic bean? You sound like a redneck who plays the powerball.
Hard Fork ... Like printing money. 😂
If ETH is security, shouldn’t most of coins are the same, especially same as ADA.
"... which resides on an Etherium which makes it decentralized..." wtf? are you sure that THIS is what "decentralization" means??
We have to thank SBF for all this, by bringing SEC focus on cryptocurrency like he wanted. 🎉🎉
He really was just playing all sides of the situation to favor himself. It could include adding regulation or deregulation depending which angle he was working at that moment.
SEC knew what he was upto, they were more then likely on his side, untill the federals got hold of it, and i hope justice gets served to Eth and sec they both deserve a good sentence behind bars. Hinman also.
The example relating Ethereum to a weather app betting platform is perfect. Enron’s supposed revenue-generating business in the 90s was very similar to that. We only found out later that it made very little money since the contracts were not nearly as valuable as the Wall Street thought they were. Still, a big reason Enron was able to continue as long as they did was the complicity by their external auditor Arthur-Anderson
Who in the hell would want to "register" their gym shoes like a car? What happens then, odometers to determine wear and value depreciation?
yeah, I was thinking along those lines, nike sells f@uck1ng clothing, things that have absolutely no real world appreciable value unless you have a mental condition.
Ah they also did a ICO. No running away now.
D-a-o
Its pronounced dow...
Like the dow jones
By no conceivable definition is ethereum a security to anyone who actually holds or uses it.
D'accord
I didn’t consider the argument that the “common” in common enterprise doesn’t have to mean a group of individuals legally bound by a corporate entity, but also any group of individuals meaningfully working towards a common goal (in this case making ETH go up)
US Sup Ct, comprised of largely tech-illiterate Boomers, will decide. Do you feel lucky? LOL I'm out.
The U.S. government transferred a lot of btc to coin base what was the transaction a sell to coinbase? Or a place to hold it so they can sell off whenever?
crypto guy: crypto is the best because no government can control it! its unregulated!
governmen: yeah... about that...
Charles hoskinson only worked on etherium for almost a month. I don't think that constitutes calling him a co founder of etherium. Gavin wood on the other hand is.
You bring this out a handful of days after the Xrp news....
Good timing