0 sats \ 4 replies \ @faithandcredit 7 Jun 2023 \ on: Jack Dorsey courts controversy by claiming ETH is a security bitcoin
Dont fk around with this there can be blow back
for example lets say ETH is deemed a security, then congress makes new regulations, and only cryptos that are considered securities are allowed to be available to the public. so where does that leave BTC?
but also its possible that jack just opines because he was asked, but going out of your way to claim ETH is this and that only gives it publicity and thats what cryptos need first and foremost. so really whats happening is the the beast is being fed :) but lets see
"blowback" is just a fancy word for the result of pissing people off. We aren't paid to pander to the cRyPtOcUrReNcY metacult psyop, and nobody listens to us anyway. Facts are facts and it's not like the government isn't already trying to steal your honestly earned resources in more ways than has ever happened before in history. Even "serfs" only had to cough up 10% of their harvest. We are so far beyond that into the twilight zone it should be obvious none of this stands up if the ants realise they epically overwhelm the parasitic crickets...
Anyway, it is an interesting irony that shitcoinery is precisely an example of a byzantine fault, since they don't accurately transmit any reliable signal of their supply - ie, always one moment away from deciding to hard fork and alter the supply to benefit themselves. This is like the order from the general to his 5 armies being mangled in a way such as "put 100% of the soldiers on the eastern flank" when there was one less zero before. Oh, yes, we just made a new rule that we can have even more ways to milk the exit liquidity...
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Sure, they could make a law that says Bitcoin specifically is illegal. But we know how those types of laws have worked out in the past. Securities are regulated for good reason.
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...and commodity is allowed to be available to the public by definition
and Gensler said that only Bitcoin is commodity in his opinion and that's why is in the area of CFTC
what is "good for bitcoin" :)
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nice