540 sats \ 2 replies \ @orthzar 7 Nov 2022 \ on: SEC: LBRY tokens were sold as Securities, Precedent set? bitcoin
Here's a copy of the judgement hosted on LBRY: https://odysee.com/@lbry:3f/secvslbrysummaryjudgementruling:a
LBRY and crew are going to pay a high price for their shitcoinery. They should have switched from LBC to Lightning as soon as Lightening looked remotely usable. They had years to make that change; they could have avoided the present mess they are in.
They will cry "the State is attacking us, we need your help, send BTC."
They were told to not engage in shitcoinery. They refused to listen, so now any money sent to them will simply wind up in the hands of the State through fines, seizures, etc.
I was one of the LBRY testers that told them to hold off for lightning... I told their project lead himself what to expect, both from bitcoiners who would shun his whole platform to regulators who might see their shitcoin as a security... Way back in 2017, but greed prevailed, apparently.
The app itself was quite revolutionary like a P2P youtube that is easily monetized... I'd use it today if not for their selfish idea to sling shitcoins.
Are there any lightning devs out there interested in forking this for bitcoiners?
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Are there any lightning devs out there interested in forking this for bitcoiners?
I had a similar idea, but it will be a lot of work. It would be easier to rewrite it from scratch, while taking design ideas from LBRY.
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