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by arcticbull 1994 days ago
I addressed your question: a "security of what" is not a relevant question in this context because you've misunderstood the definition of a security, and I corrected you. You do not need to answer that question for something to be deemed a security. I then gave you a legal test, the Howey test, which contains the question you should be asking. I also explained how it applies in my response. It's pretty cut and dried.
1 comments
noxer 1994 days ago
No you did not. You said it should be a security first and I asked you "of what" not "why". The Howey test and all your other argument are not news to me and dont answer the question. What is XRP the security of? And what is ETH the security of?

If you wanna know why the Howey test is misused in this case you can read https://ripple.com/wp-content/uploads/2020/12/Ripple-Wells-S...

And like I said on my preview post if they would actually think XRP is a security then it would have been one since ever and it would still be one today. Which is not the case since the allegations are only about the sell contracts. But anyway none of that was or answers my question.

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arcticbull 1994 days ago
I said "of what" is a meaningless question. It is. It's irrelevant to whether it is a security or not and does not factor into the definition of a security, anywhere. At most answering that question is a distraction. It's like asking me what flavor XRP is or what shape it is. Neither of these things factor into the definition of a security.
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ineedasername 1994 days ago
It's like asking me what flavor XRP is or what shape it is

I think we can all agree that it tastes like butterscotch and is shaped like a donut. Lots of disagreement on what type of donut: Some say a coffee roll, while others dispute coffee rolls as properly belonging to the "donut" category. Most have settled on the traditional shape of round w/ a hole, though a small number have claimed that's a misinterpretation, and in fact it's the inverse of that, it's the middle part of the donut. This is the munchkin faction.

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noxer 1994 days ago
Are you incapable of grasping the concept of me just assuring someone is right to ask a followup question? It's not relevant to determine if it is a security but if it is one it still must be of something and since you think it should be a security I asked you. Again that's me asking you for your personal opinion of what XRP/ETH shall be a security. If I wanted legal advice I wouldn't ask an internet stranger.
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