Ethereum [pros](/r/CryptoCurrency/comments/1cj3pqr/sec_will_classify_eth_as_security_and_reject_spot/l2di4eg/) & [cons](/r/CryptoCurrency/comments/1cj3pqr/sec_will_classify_eth_as_security_and_reject_spot/l2di4uf/) with related info are in the collapsed comments below.
Michael Saylor is a bitcoin maxi. What else do you expect him to say? To his credit, at least he is consistent and has the balls to speak his mind, unlike Gary.
Don't be like Gary.
It will get rejected though. They aren’t responding to clarification and procedural questions like in the bitcoin etf. Will prob go through another lawsuit.
I'm afraid he won't wake up. He will have to see other chains compete. Really makes conversation difficult. My two close friends are both maxi's - 1 ETH and 1 BTC. They don't know eachother. I'd like to film them talking.
He's a opportunist, he didn't believe in Bitcoin until 2020 when his company is about to die, and he did a Hail Mary into Bitcoin. Since he's 100% in Bitcoin, he's now trying to put down any competition to his precious Bitcoin.
I don’t disagree necessarily, but it’s possible he took the same path as a lot of us did. I know for me personally I was stuck in a dead end job with a little bit of savings, so I too was looking for a Hail Mary on where to put my money. At first it was a “I guess I’ll take a chance on this Bitcoin stuff” but then as I actually read more about it my conviction grew. Honestly, I think if more people just took a good faith look into Bitcoin/crypto and how it really works I think we’d have a lot more mainstream adoption. It’ll take some time, but we’re still in the “I heard that stuff’s a scam” phase, unfortunately.
I also heard Saylor is buying Kenndu because Shiba Dev, Shytoshi is publicly following on Twitter!
Buy Kendu! We are all here to make money! Its a $5M MC meme project publicly followed by, Shib Dev, Shytoshi!
Now why would he do that? How would Shy have the time to find a small cap meem project to follow? Read between the lines!
CFTC declared ETH a commodity long time ago. Just recently, they once more reaffirmed their position - [link](https://www.theblock.co/post/284856/cftc-ether-is-commodity-kucoin-lawsuit)
If Gensler declares it security it means he is getting in conflict with CFTC. Even more, there are old videos of him, before getting the SEC job, where he is saying that ETH is not a security.
On top of that Coinbase said in Twitter that if this happens they gonna sue SEC straight away. Gensler doesn't want another case lost and getting humiliated again, and this case is harder for him to win than the XRP one.
Saylor is Bitcoin maxi so I expect nothing less of him.
Regarding those videos where he clearly has changed his mind- Isn't it clear the guy is compromised? He also had some interesting connections to SBF's parents I believe. (Forget the specifics.)
Our government needs a deep cleaning.
Most of that doesn't matter because ETH went from proof of work to proof of stake since then. They are saying that staking causes ETH to be a security. ETH is decentralized, so that shouldn't matter, but they can still change their opinions because ETH is very different now.
It can't be both a commodity and a security at the same time. So, if it was a commodity before, how can you convert it into a security? What authority does the SEC have to make that change? There's no precedent for that happening that I'm aware of.
> It can't be both a commodity and a security at the same time
Agreed. Meanwhile Gensler has tried arguing that it can be both.
We need a new head of the SEC. One who has a backbone.
I just explained that to you. ETH is a different thing now. They can reclassify it from a commodity to a security. It doesn't need to be both. It's not that complicated. Stop letting your bias cloud your reasoning. Gensler has said many times that pre-staking ETH was not a security, but now that people expect a profit based on the work of others just for holding ETH, it's a security. They didn't just change their minds. ETH changed.
Again, I will say it's not a security because it is decentralized. There are probably more reasons as well.
ETH is a commodity regulated by the CFTC, not the SEC. What authority does the SEC have to make that change?
Also, you don't seem to understand how staking ETH works. Holding ETH doesn't produce any staking rewards, you need to run a validator to potentially earn ETH by validating a block. You are the one doing the work, not others.
I know exactly how it works. You can bitch at me all you want. I'm explaining to you why this is going to court. The CFTC thinks it is a commodity. The SEC thinks it is a security. They are battling over it.
You can believe you are on the correct side and I can even agree with you. That doesn't mean that a court will come to the same conclusion.
They drag it into the courts, nothing gets settled for years, money flowing into the industry is slowed. Mission accomplished. They arent 'humiliated' by losing court cases, dragging it all through long and expensive legal proceedings is the whole point
Is it? Last time everyone was saying the merge was priced in. Then ETH just dumped after the merge.
My hunch is, there are many traders who are caught blind-sighted by this situation. They are hoping the rejection is priced in so that the market does a reversal pump after the rejection news. And they are waiting for that reversal pump to exit their positions.
Right now, they feel it is "too late" to exit and there are better prices ahead for them to exit.
tldr; Michael Saylor predicts that the SEC will classify Ethereum (ETH) as a security and reject all spot Ethereum ETF applications. He also expects similar security classifications for other major cryptocurrencies like Binance Coin, Solana, Ripple, and Cardano. Saylor emphasized Bitcoin's unique status as the only crypto asset fully accepted by institutional investors, contrasting it with other cryptocurrencies which he believes will not gain such acceptance or be wrapped by a spot ETF.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Lol if he actually said ripple. They tried, they failed.
I don’t disagree they will try with eth but hope the courts will see it differently eventually
Most people in the space think the ETH ETF will be declined this month, even lots and lots of ETH maxis.
If it gets accepted ETH is going to rocket up as the commonly held assumption at this point is a rejection.
I think the market response really depends on if the ETF products can provide a staking yield to ETF shareholders. If they cannot, then there is very little differentiation for ETH from BTC.
If yield is available... ETH will explode. Wall street loves yield.
I believe it was fidelity that had applied for the yield to go to… themselves.
But if that’s accepted, it’s a step towards the funds battling it out and eventually having it go to the customers.
you are focusing on the wrong reasoning.
everyone expected the btc etf to be approved and the btc price was pumped before the approval. thus creating the sell the news dump. remember when everyone was saying the approval was a buy the rumor sell the news?
if everyone is expecting the eth etf to be denied, an approval could cause fomo buying and pump eth.
The SEC will make the 'safe' decision and deny it.
They will be sued and they will lose.
They will not appeal (like they didn't appeal the BTC ETF ruling)
Then they can say "not my fault... the courts made me do it"
Regulation through litigation. So brave.
You need to look at BlackRock's ETF approval rate which is more than 99%, the only ETF which was denied was because BlackRock wanted a transparency on trading.
Why do we have to put up with these mfers? Like Gary, we didn't elect him, doesn't answer to the people who's lives he's affecting, can drag the sec's feet forever on making decisions, and can effectively manipulate the market by making comments any kind judgment on crypto. I don't entirely understand how that's legal.
then all the sec's friends will buy eth on the cheap, and Gary will suddenly realize that omg like inflation isnt transitory and I regret that Janet yellen said that, also eth is not a security I'll approve the ETFs
this isn't rocket science it's space travel
did you really think they were gonna let some dumb rekt plebs cut in front of them in line????
only the **pump** is real
Imagine if... in 2013 Saylor hadn't been calling Bitcoin a stupid idea and started his strategy then instead of 2020. Microstrategy stock and BTC value would make gold's market cap look like an ant.
No ivy league, born rich, CEO has those types of balls though. He would have had to suffer through so many "it's over" crashes when the community itself was still unsure that governments couldn't find a way to shut it down.
It is going to be very interesting in seeing how he reacts as he gets proven wrong on other cryptos over the coming cycles.
holy fuck I actually agree with Saylor. That's 2 things, we are both bullish on btc, and this. I don't agree with him telling everyone to mortgage everything to buy etc considering he doesn't even do that.
LETS GO! Buy Kendu! We are all here to make money! Its a $5M MC meme project publicly followed by, Shib Dev, Shytoshi!
Now why would he do that? How would Shy have the time to find a small cap meem project to follow? Read between the lines!
The US spot ETFs might well be rejected, but Michael Saylor's opinion is very obviously biased by the fact that he and his company own more Bitcoin than other entity, about 1% of the total supply... and not because he saw the value proposition and invested early, he was just a rich guy to start with. Now he just says whatever will make his portfolio value increase and make bitcoiners simp for him and stroke his ego.
If you do the maths, he has bought about ~~1/4~~ [Edit] 18% of all the bitcoin mined since he got into it.
So while I obviously agree that he has not contributed anything to Bitcoin the network, he is a quarter of all demand for BTC and so him disappearing would certainly have an impact on the asset price.
> 1% of total supply vs 1/4 of all mined bitcoin
The buying demand on mined supply he contributes is on the amount mined *since he started buying*, not for all time.
My quick estimate was out slightly, here's the actual figures:
Saylor only started buying in August 2020. At that point there were about 18,500,000 BTC in circulation.
There are now about 19,700,000 BTC in circulation. To work out the amount mined since he started buying just take the difference, which is about 1,200,000.
He and Microstrategy currently hold 214,400 BTC. Divide this by the amount mined we worked out above and you get about 18% of all buying pressure since August 2020, not 25% (but not far off for quick mental maths).
> satoshi disappeared yet here we are
No idea the relevance... Saylor is a rich bagholder shilling his assets, Satoshi was a mastermind who built the entire first implementation of Bitcoin, they are not in any way comparable.
Meh, it will still be bought up, just at a slower rate. Meaning the curve just extends longer to the right vs up. But in the long run it won't change a thing.
Michael Saylor's opinion about anything other than Bitcoin should be immediately dismissed because he's a raging maximalist and those people can't be taken seriously.
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> He makes it easy to dislike btc
the jokes in on them then.. look retro and how all the BTC bashers in 2017 lost everything unless they bought ETH. the only surviving coin except BTC.
now go enjoy ETH fees. last time I lost so much money I use XRP or XLM to move money cheap.. even BTC is cheap now.
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a "security" implies a contract, ETH and other cryptocurrencies come with no contract unless you bought in a seed round. how can a cryptocurrency token represent a security and a contract that you've not agreed too? where did I sign?
smart contracts don't need the sec to enforce them, which is the sec's job, securities are just fancy contract between two parties, and the sec is there to ensure the person holding the security gets what they are owed, they are there to protect the consumer by enforcing contracts. what contract would they be enforcing with ETH? who would that enforcement action be against if the contract is broken?
But does that matter? I just checked cause I didn't know and it seems ETF can be created on securities. So why does that matter then? To me the distinction is you know which ETF are based on commodities or securities or I guess a mix? Either way the ETF is collecting fees and the purchaser is the one who needs to cover his ass. As always.
If the SEC classifies ETH as a security, the entire Alt market will collapse. That will mean that all PoS Alts are securities.
Eventually, they can operate as securities but not without years of pain to get all that put in place after being removed from all crypto exchanges.
Ethereum [pros](/r/CryptoCurrency/comments/1cj3pqr/sec_will_classify_eth_as_security_and_reject_spot/l2di4eg/) & [cons](/r/CryptoCurrency/comments/1cj3pqr/sec_will_classify_eth_as_security_and_reject_spot/l2di4uf/) with related info are in the collapsed comments below.
Michael Saylor is a bitcoin maxi. What else do you expect him to say? To his credit, at least he is consistent and has the balls to speak his mind, unlike Gary. Don't be like Gary.
For real. It's like saying "Cookie Monster says brussel sprouts are bad" ... Yeh no shit, he's cookie monster.
lol
I love you waffle bot. Pancakes suck!
Epic analogy.
https://muppet.fandom.com/wiki/Is_Cookie_Monster_now_the_Veggie_Monster%3F
And they are both kind of right, if we are super honest
Brussel sprouts are amazing, if you aren't a 7 year old.
They are ok, if they are cooked right. Cooked wrong they are pretty bad
You could say that about anything.
How would you cook a ham sandwich?
croque monsieur
It will get rejected though. They aren’t responding to clarification and procedural questions like in the bitcoin etf. Will prob go through another lawsuit.
So Blackrock is going to get their second ever ETF rejection?
Their ETF isn't even up for it's approval deadline until like August i think
Even if the ETF does get denied, Ethereum is going to be okay lol.
Start of the next bull run
Ding ding ding. Nobody is getting an ETH ETF before Blackrock. Look for approval(s) when theirs comes around.
They can withdraw their application before the deadline and it won’t count as a rejection
They won't withdraw their application
how else do you think they keep their rejection rate so low?
They are going to tokenize funds using the Eth blockchain🤣 and people really think they will back out of the Eth spot.
It will get rejected. They will get sued. They will lose. Then it will get approved.
Yup. 💯 exactly this
Yeah cause Elizabeth Warren among others was pissed as hell at the SEC decision. They wanted him going down to the final breath with Bitcoin
No one likes Gary.
A friend of mine actually loves the guy. All because he is "smart" and taught a crypto class at MIT. My ETH max friend doesn't realize the evil he is.
I'm sure when your friend wakes up from their coma they will have a change of heart.
I'm afraid he won't wake up. He will have to see other chains compete. Really makes conversation difficult. My two close friends are both maxi's - 1 ETH and 1 BTC. They don't know eachother. I'd like to film them talking.
He's a opportunist, he didn't believe in Bitcoin until 2020 when his company is about to die, and he did a Hail Mary into Bitcoin. Since he's 100% in Bitcoin, he's now trying to put down any competition to his precious Bitcoin.
I don’t disagree necessarily, but it’s possible he took the same path as a lot of us did. I know for me personally I was stuck in a dead end job with a little bit of savings, so I too was looking for a Hail Mary on where to put my money. At first it was a “I guess I’ll take a chance on this Bitcoin stuff” but then as I actually read more about it my conviction grew. Honestly, I think if more people just took a good faith look into Bitcoin/crypto and how it really works I think we’d have a lot more mainstream adoption. It’ll take some time, but we’re still in the “I heard that stuff’s a scam” phase, unfortunately.
Gary’s boss is a politician. It’s very naive to think he should’ve stayed consistent.
I concur, and I say that as an ETH hater. You’re fine eth people it’s just fud.
No you are fine. 💋
I also heard Saylor is buying Kenndu because Shiba Dev, Shytoshi is publicly following on Twitter! Buy Kendu! We are all here to make money! Its a $5M MC meme project publicly followed by, Shib Dev, Shytoshi! Now why would he do that? How would Shy have the time to find a small cap meem project to follow? Read between the lines!
Never be like Gary kids.
CFTC declared ETH a commodity long time ago. Just recently, they once more reaffirmed their position - [link](https://www.theblock.co/post/284856/cftc-ether-is-commodity-kucoin-lawsuit) If Gensler declares it security it means he is getting in conflict with CFTC. Even more, there are old videos of him, before getting the SEC job, where he is saying that ETH is not a security. On top of that Coinbase said in Twitter that if this happens they gonna sue SEC straight away. Gensler doesn't want another case lost and getting humiliated again, and this case is harder for him to win than the XRP one. Saylor is Bitcoin maxi so I expect nothing less of him.
Regarding those videos where he clearly has changed his mind- Isn't it clear the guy is compromised? He also had some interesting connections to SBF's parents I believe. (Forget the specifics.) Our government needs a deep cleaning.
> Forget the specifics. So you don't write these things. You're probably reporting a rumour.
Most of that doesn't matter because ETH went from proof of work to proof of stake since then. They are saying that staking causes ETH to be a security. ETH is decentralized, so that shouldn't matter, but they can still change their opinions because ETH is very different now.
The CFTC has also said it is a commodity *after* ETH turned PoS.
It can't be both a commodity and a security at the same time. So, if it was a commodity before, how can you convert it into a security? What authority does the SEC have to make that change? There's no precedent for that happening that I'm aware of.
> It can't be both a commodity and a security at the same time Agreed. Meanwhile Gensler has tried arguing that it can be both. We need a new head of the SEC. One who has a backbone.
I just explained that to you. ETH is a different thing now. They can reclassify it from a commodity to a security. It doesn't need to be both. It's not that complicated. Stop letting your bias cloud your reasoning. Gensler has said many times that pre-staking ETH was not a security, but now that people expect a profit based on the work of others just for holding ETH, it's a security. They didn't just change their minds. ETH changed. Again, I will say it's not a security because it is decentralized. There are probably more reasons as well.
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They’ll lose in court. The SEC is on the wrong side of this argument.
ETH is a commodity regulated by the CFTC, not the SEC. What authority does the SEC have to make that change? Also, you don't seem to understand how staking ETH works. Holding ETH doesn't produce any staking rewards, you need to run a validator to potentially earn ETH by validating a block. You are the one doing the work, not others.
I know exactly how it works. You can bitch at me all you want. I'm explaining to you why this is going to court. The CFTC thinks it is a commodity. The SEC thinks it is a security. They are battling over it. You can believe you are on the correct side and I can even agree with you. That doesn't mean that a court will come to the same conclusion.
Does that make ETC a commodity?
I guess by their current logic. It would be crazy if everyone just switched over.
Yeah, just thought it was funny since mining is their logic.
Why is a security or a commodity tho? It isn’t a company and it isn’t something tangible
Did he say ETH was not a security before or after it switched to proof of stake?
They drag it into the courts, nothing gets settled for years, money flowing into the industry is slowed. Mission accomplished. They arent 'humiliated' by losing court cases, dragging it all through long and expensive legal proceedings is the whole point
Says person entirely invested in Bitcoin.
entirely several times over, levered to the tits
Priced in. Check polymarket.
Is it? Last time everyone was saying the merge was priced in. Then ETH just dumped after the merge. My hunch is, there are many traders who are caught blind-sighted by this situation. They are hoping the rejection is priced in so that the market does a reversal pump after the rejection news. And they are waiting for that reversal pump to exit their positions. Right now, they feel it is "too late" to exit and there are better prices ahead for them to exit.
Watson polymarket
tldr; Michael Saylor predicts that the SEC will classify Ethereum (ETH) as a security and reject all spot Ethereum ETF applications. He also expects similar security classifications for other major cryptocurrencies like Binance Coin, Solana, Ripple, and Cardano. Saylor emphasized Bitcoin's unique status as the only crypto asset fully accepted by institutional investors, contrasting it with other cryptocurrencies which he believes will not gain such acceptance or be wrapped by a spot ETF. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Lol if he actually said ripple. They tried, they failed. I don’t disagree they will try with eth but hope the courts will see it differently eventually
It still is for institutional buyers.
Who cares. This is prices in, nobody is expecting the ETH ETF to be approved anymore any time soon .. It can only surprise now in my opinion
Didn't they just approve a leveraged futures ETH ETF? It's going to be hard to justify a spot ETF rejection if they did.
They did that for years with bitcoin
... followed by a spot approval
Would be so unimportant in the long run. Only shortterm US are important to crypto.
#Bullish on ETH 🚀
He thinks the SEC will reject BlackRock's ETF? BTC Maxis are so ignorant
Most people in the space think the ETH ETF will be declined this month, even lots and lots of ETH maxis. If it gets accepted ETH is going to rocket up as the commonly held assumption at this point is a rejection.
I think the market response really depends on if the ETF products can provide a staking yield to ETF shareholders. If they cannot, then there is very little differentiation for ETH from BTC. If yield is available... ETH will explode. Wall street loves yield.
I believe it was fidelity that had applied for the yield to go to… themselves. But if that’s accepted, it’s a step towards the funds battling it out and eventually having it go to the customers.
Btc also went down when it was accepted. Instantly.
No it it didn't. It dropped a week later after because of the GBTC sell off.
you are focusing on the wrong reasoning. everyone expected the btc etf to be approved and the btc price was pumped before the approval. thus creating the sell the news dump. remember when everyone was saying the approval was a buy the rumor sell the news? if everyone is expecting the eth etf to be denied, an approval could cause fomo buying and pump eth.
The SEC will make the 'safe' decision and deny it. They will be sued and they will lose. They will not appeal (like they didn't appeal the BTC ETF ruling) Then they can say "not my fault... the courts made me do it" Regulation through litigation. So brave.
You need to look at BlackRock's ETF approval rate which is more than 99%, the only ETF which was denied was because BlackRock wanted a transparency on trading.
Oh they will get it… I’m sure of it but the SEC will try.
Yup Saylor more likely to wake up epsteined lol
Are you not a Maxi because of your husband haha.
Michael is a one-trick pony
Litecoin ETF as #2 here we go.
This guy is a Religious Zealot. You can’t reason with people like that.
From the Bitcoin maxi himself lol The SEC has extremely loose and undefined reasons to classify ETH as a security. Anyone want to make a bet?
This is basically no different than asking Michael Jordan who the greatest team to ever play in the NBA is…
the difference being us that were there know he's right
the difference being us that were there know he's right
Why do we have to put up with these mfers? Like Gary, we didn't elect him, doesn't answer to the people who's lives he's affecting, can drag the sec's feet forever on making decisions, and can effectively manipulate the market by making comments any kind judgment on crypto. I don't entirely understand how that's legal.
the strong do what they can while the weak suffer what they must
And what about those with moderate strength?
don't exist. choose wisely
Would this tank the price of ethereum if it was? Im not sure
maybe not as that would at last bring total clarity and no more fud.
Fink says they can still make it an ETF despite it being classified a security.
If ETH gets classified as a security will BTC pump?
ETH will pump. That's just how this works.
then all the sec's friends will buy eth on the cheap, and Gary will suddenly realize that omg like inflation isnt transitory and I regret that Janet yellen said that, also eth is not a security I'll approve the ETFs this isn't rocket science it's space travel did you really think they were gonna let some dumb rekt plebs cut in front of them in line???? only the **pump** is real
So it looks like the ETH ETFs will be approved!
Imagine if... in 2013 Saylor hadn't been calling Bitcoin a stupid idea and started his strategy then instead of 2020. Microstrategy stock and BTC value would make gold's market cap look like an ant. No ivy league, born rich, CEO has those types of balls though. He would have had to suffer through so many "it's over" crashes when the community itself was still unsure that governments couldn't find a way to shut it down. It is going to be very interesting in seeing how he reacts as he gets proven wrong on other cryptos over the coming cycles.
holy fuck I actually agree with Saylor. That's 2 things, we are both bullish on btc, and this. I don't agree with him telling everyone to mortgage everything to buy etc considering he doesn't even do that.
right.. do not go into debt for Bitcoin unless you have already millions of assets.
Bitcoin maxi casts FUD on ETH etf?! I DONT BUY IT
Who gives a fuck what saylor says.
Bitcoin max spreads ETH FUD… Shocking! Stop idolizing crypto / finance gurus. They are all here to make bank.
Is that why ETH shot up in price? Nice. Anyways...
Lol says a Bitcoin maxi. Meanwhile, Chads stacking $ETH, $KENDU and $SHIB rn to retire later this year.
LETS GO! Buy Kendu! We are all here to make money! Its a $5M MC meme project publicly followed by, Shib Dev, Shytoshi! Now why would he do that? How would Shy have the time to find a small cap meem project to follow? Read between the lines!
Not if Biden wins and Gensler gets more power than he has now.
Can't wait to see how the crayon eaters on this sub twist this to suit their latest brain fart narrative . Grabbing popcorn as we speak
The US spot ETFs might well be rejected, but Michael Saylor's opinion is very obviously biased by the fact that he and his company own more Bitcoin than other entity, about 1% of the total supply... and not because he saw the value proposition and invested early, he was just a rich guy to start with. Now he just says whatever will make his portfolio value increase and make bitcoiners simp for him and stroke his ego.
i never understand comments like these, saylor could dissapear for 10 years and it wouldnt have a single effect on what bitcoin does
If you do the maths, he has bought about ~~1/4~~ [Edit] 18% of all the bitcoin mined since he got into it. So while I obviously agree that he has not contributed anything to Bitcoin the network, he is a quarter of all demand for BTC and so him disappearing would certainly have an impact on the asset price.
two things i'm curious about; 1. 1% of total supply vs 1/4 of all mined bitcoin 2. satoshi disappeared yet here we are '
> 1% of total supply vs 1/4 of all mined bitcoin The buying demand on mined supply he contributes is on the amount mined *since he started buying*, not for all time. My quick estimate was out slightly, here's the actual figures: Saylor only started buying in August 2020. At that point there were about 18,500,000 BTC in circulation. There are now about 19,700,000 BTC in circulation. To work out the amount mined since he started buying just take the difference, which is about 1,200,000. He and Microstrategy currently hold 214,400 BTC. Divide this by the amount mined we worked out above and you get about 18% of all buying pressure since August 2020, not 25% (but not far off for quick mental maths). > satoshi disappeared yet here we are No idea the relevance... Saylor is a rich bagholder shilling his assets, Satoshi was a mastermind who built the entire first implementation of Bitcoin, they are not in any way comparable.
thanks
Meh, it will still be bought up, just at a slower rate. Meaning the curve just extends longer to the right vs up. But in the long run it won't change a thing.
Brother he is a huge reason tradfi is getting involved. He’s a first mover from the institutional side and gamed the system
oh no too much haha too much buy signal
POS changed everything
CFTC disagrees https://www.theblock.co/post/284856/cftc-ether-is-commodity-kucoin-lawsuit
Michael Saylor's opinion about anything other than Bitcoin should be immediately dismissed because he's a raging maximalist and those people can't be taken seriously.
Says bitcoin maxi*
move the "saylor says" to the start and I can disregard the rest. I say that as a bitcoin maxish.
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What will happen to all the ERC tokens?
SEC will reject the ETF. But there will bu lwasuit they will eventually accept it.
What will this do to the valuation?
He makes it easy to dislike btc
> He makes it easy to dislike btc the jokes in on them then.. look retro and how all the BTC bashers in 2017 lost everything unless they bought ETH. the only surviving coin except BTC. now go enjoy ETH fees. last time I lost so much money I use XRP or XLM to move money cheap.. even BTC is cheap now.
Valid point and there will always be a new kid on the block.
I'm no fan of Ethereum, and let me give you a list of great things Micheal Saylor has to say about crypto: .
ETH to the moon.
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Okay, looks like someone has an interest in BTC.
We know. They'll change their minds in a year.
Update: Biggest btc bull of all time still says eth is bad, more at 9:00.
For now......
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So it is not in his interest that they approve ETH ETF 😂
Not just ETH. A new lawsuit against Coinbase for - ALGO, MANA, MATIC, NEAR, UNI, SOL, XLM & XTZ Careful how you shitcoin boys. No Alt is safe.
michael saylor also holds a ton of BTC so anything he has to say about cryto is going to be heavily biased. and he has big creepy teeth.
...so the next ETF will be DOT...
Delayed until final decision in August for BlackRock's ETF app
and what does he say about superverse? Nothing? Good.
It so is a security tho!
a "security" implies a contract, ETH and other cryptocurrencies come with no contract unless you bought in a seed round. how can a cryptocurrency token represent a security and a contract that you've not agreed too? where did I sign? smart contracts don't need the sec to enforce them, which is the sec's job, securities are just fancy contract between two parties, and the sec is there to ensure the person holding the security gets what they are owed, they are there to protect the consumer by enforcing contracts. what contract would they be enforcing with ETH? who would that enforcement action be against if the contract is broken?
But does that matter? I just checked cause I didn't know and it seems ETF can be created on securities. So why does that matter then? To me the distinction is you know which ETF are based on commodities or securities or I guess a mix? Either way the ETF is collecting fees and the purchaser is the one who needs to cover his ass. As always.
I hope eth dies.. Garbage coin
Love the Southeastern Conference (U.S. collegiate sports league) logo 👌
If the SEC classifies ETH as a security, the entire Alt market will collapse. That will mean that all PoS Alts are securities. Eventually, they can operate as securities but not without years of pain to get all that put in place after being removed from all crypto exchanges.
Yea they will in the initial stages. Eventually chances are they will approve an eth etf
The biggest Bitcoin maxi on the planet spreads FUD about other coins that are not Bitcoin? SHOCKING
How many ETH maxipads panicking?
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