jack “sufficiently decentralized” “not a security” 🪄🧙‍♂️🤝

- Coinbase on-boarded millions to bitcoin - Minted many multi-millionaires by giving them trusted access to Bitcoin early on - Helped onboard institutions such as MicroStrategy Seeing laser-eye maxis cheering as the SEC tries to take Coinbase down makes me sick to my stomach

clowns.

ETH is not a security? Teach me wizard.

@jack ETH was based on Proof of Work then. Transitioning to POS may have changed the fact pattern. Also sufficiently decentralized is not the only factor to determine whether a token is a security or not.

@jack Whatever I just assumed that if Gary Gensler says that ETH isn’t a security then it means Gary Gensler thinks ETH isn’t a security

@jack

"We'll talk later in the semester as to whether [the Ethereum premine] was really a securities offering, I've publicly said I think so." -Gary Gensler, about 4 seconds before the clip you snipped out. Go to the 17:30 mark of the video The snip you chose to post is rather selectively edited, since the full contest is Gensler saying that he thinks the SEC's 2018 comment on ETH not being a security is factually wrong. Is it really surprising that as commissioner he would correct what he sees as previous mistakes?

@jack Udi... This is not the dunk you think it is. Gensler is creating precedent in this video that it doesn't matter what he said in the past, what he says today stands. This was years before proof of stake was a reality. Disingenuous answer.

@TaprootWizards @jack Would look good, imo

@davesaee @TaprootWizards @jack he should take a shower

@jack @jack just admit Udi is correct and if you're lucky you'll get an honorary wizard

@jack sounds like a good deal for me

@jack GG