STFU about securities
0 sats \ 3 comments \ @GengarGod007 25 Jul 2022 bitcoin freebie
Securities law is bullshit and the most clear instance where “rich get richer” is coded into law. If everything is deemed a security like many Bitcoiners are calling for, this whole industry is fucked Bitcoin included.
What happened to libertarianism, freedom of choice, etc? If us plebs wanna invest in anything we want why is the government saying we can/can’t?
All this talk makes me think the Bitcoin movement is dead and has been heavily co-opted by entrenched interests. Begging daddy gensler to “ban ETH”… fuck off
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21 sats \ 0 replies \ @Ganjamon 25 Jul 2022
Most people will tell you Bitcoin is different from the rest of crypto so you wont find much sympathy for ETH ont this sub lol. Tbh the more I learn about bitcoin the more the other coins look like securities, which 100% need to be regulated. Securities arent necessarily a bad thing but one thing Bitcoin will never be is a security. Eth...Idk lol. Trust me the Bitcoin movement is stronger than ever.
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21 sats \ 0 replies \ @TheBTCManual 25 Jul 2022
I agree with your point about running to big daddy government, I personally don't care if shitcoins are unregistered securities, and they rek people, they all chose to participate in these scams, being an idiot, being greedy or being naive is not a crime, if you fall for a sales pitch thats on you and that's how you learn, by having a scammer take you for a ride
Securities laws ain't going to do much IMO, the shitcoins will find a niche for themselves in any case
Bitcoiners that call for this are just people who want to get rich and aren't confident in what they hold. I couldn't care two shits about ETH, even if it flipped bitcoin, I wouldn't care, I am focusing on the thesis and what i've seen from bitcoin playing out so far.
Let the shitcoins kill themselves, most will and the ones that don't well clearly people think its useful for their lives, just like people feel their fiat currency is useful
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0 sats \ 0 replies \ @zuspotirko 25 Jul 2022
I think due to tax law it would allow some people to get more sats out of their paycheck.
But in theory I would much rather have it declared a foreign currency and forex exchange should be tax free anyway. In my country every sat earned/routed through a node is in theory a taxable event at the moment of transaction - which in theory makes me using SN illegal/tax fraud. This is BS obviously.
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