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by DINKDINK
2926 days ago
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The SEC spokesperson probably doesn't understand that Ethereum nodes are so centralized that no end users run them and it's even arduous for production environments to keep them up. Given that Ethereum miners can vote for themselves whether or not they increase the Ethereum blocksize, that reduces their competitors which centralizes nodes+miners even more. You can make a case that, before Ethereum was built, it is was classifiable as a security under the Howey Test. You can also make the case that, after Ethereum was launched, that the ether produce while mining are not securities. But what you cannot deny is that the Ethereum Foundations 70 million ether that they premined(spun ether from straw) are definitely securities. The number of people who don't understand that there's a centralized 'foundation' holding >~65% of ethereum and the ethereum devs are trying to shift their ecosystem to rewarding and voting on Ethereum blocks with ether is astounding. |
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