0 sats \ 8 replies \ @grayruby 20 May \ parent \ on: Monumental Crypto Legislation Vote Tomorrow: The Legislation Breakdown bitcoin
When is the last time you saw an intentional natural disaster created by a small group of people destroy a harvest? (Slashing is a governance decision not a natural function).
Dynamical supply is not what makes a commodity a commodity. Besides dynamical supply was only instituted post merge. So less than 2 years ago and the merge itself was a forced software upgrade. I don't think anyone would argue eth became more like a commodity after the merge. The argument is it was before therefore it should still be now.
You can argue eth deserves a different classification other than security. I don't really buy any arguments that it is a commodity, It got labelled as such because the industry lobbied the SEC and Hinman made a statement the agency did not want him to make which set a precedent.
I still believe congress needs to define digital asset classifications better. Maybe more classifications than simply commodity and security should exist.
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Not according to NOAA data. The effects of their decisions have been clear and the mismanagement is significant. Granted they will never beat the granddaddy of them all with the Stalin-caused Ukrainian famine but killing a minimum of 5 million people due to being an idiot with harvests is hard to beat
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I am not saying it's a stretch that these decisions have had a major impact on the commodities themselves. I am saying that comparing that to a bunch of crypto nerds voting to slash someone's stake in software network as justification for its status as a commodity is quite a stretch.
I don't care what the regulators call eth. I just don't like the idea that it achieved its status through backdoor dealings rather than honest due process.
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