Charles Hoskinson, co-founder of Input Output Global (IOHK) and the Cardano blockchain initiative, recently expressed his frustration in a video over the U.S. regulator’s decision to categorize the cryptocurrency cardano as a security. He’s perplexed and critical about the exemption of bitcoin from being tagged as a security, mocking the situation as a “pathetic joke” and pointing out the apparent free pass granted to “Team Orange.”
Hoskinson, in the video, questions the absence of expectation of profit among fervent bitcoin supporters, known as the “Orange pill moon boys.” He criticizes the perceived decentralization of Bitcoin, noting that subpoenaing or targeting a few entities could potentially lead to a 51% attack on the network due to the nature of its hashpower distribution. He lambasts this oversight as a glaring, “pathetic f***ing joke.”
IOHK_Charles it's very simple: Bitcoin did not do an ICO, most people thought it had no value, it was mined from zero, it is decentralised, there is no CEO, ICO warchested "foundation", incorporation etc. so cardano, eth etc clearly pas howey, Bitcoin is a commodity and does not
Thanks for the link, I hadn't been aware of this teapot tempest.
I am super grateful for all these other coins. By reasonable (and well-established) definitions of securities they are, at minimum, incredibly security-like. And the nature of their security-like origins means they have institutions with giant warchests and giant bagholders who will fight to the end for their lives.
They're the slowest gazelles when the lions come. We're watching it unfold. Just buy us a bit more time, guys.
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Charles Hoskinson is sad no one take his centralized shitcoin serious. Booaaah.
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I like how Charles' rebuttal ignores everything Back cites, except his own distinction that an ICO and an "air-drop" are not the same, despite being overseen and distributed or 'air-dropped' by another company. The executives at The Cardano Company Foundation somehow don't see the similarity?
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Nothing wrong with Adam's message but he's wasting his time scoring goals against this conceited idiot (Satoshi had it right with Dan Larimer, "I don't have time to explain it to you").
The more important point is that if you have to care what the SEC classifies something as, you've already lost.
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Cry harder Charlie 😭
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Charlie simply hasn't done the work.
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Lol this new operation choke point has them running scared how will he liquidate his shitcoins if he can't access retail? I say bring it on, i'm here for it all week and on-call if im needed for some group finger point and laughing
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