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RE: Time for a break...
recall that the SEC decision to treat crypto-currency as a security is new, and not universal....
recall that the SEC decision to treat crypto-currency as a security is new, and not universal....
I do consider this, and it's relevant. Were the SEC to be considering a new regulation, prior acts would be exempt from that. However, they are just stating that they have authority to regulate securities, and point out that cryptos that perform as securities are subject to their authority.
Steem is, because voting is based on SP holdings. It is a security. Since there is no new regulation, the SEC can apply it's authority to acts prior to this announcement.
That means that premining the Steem and then offering it to the public is a violation of the SEC's rules, and those that have done so remain under threat of SEC prosecution in the USA.
This is an issue that Steemit needs to address, not only regarding premining, but also looking to reduce the entangling regulations that can impact users. I'd prefer to avoid such entanglements. I reckon most folks would too.
this topic definitely deserves a post of it's own.... not sure if I'm the one to handle it. However, if you decide to write an article covering this issue, I will resteem ect. Especially based upon this well written and thoughtful comment
LOL I just wanna write about bunnies, duckies, and flowers =P Somehow, I ended up here...
I saw the post by @benjojo, resteemed and followed too. I hope this does get addressed soon. @furion posted (I also resteemed that) regarding the RPC issue, too.
I also wanna be on Steemit decades from now. I do think Steemit has potential that certain issues regarding vote weighting are strongly repressing, and the current flagging debate highlights some of the ways in which Steemit is failing to attain the full degree of it's potential.
Imma hafta follow you now. You seem too lucid to continue to rely on chance conversations!
Thanks, friend.
these are concerning issues that elfspice brings up and I hope they are addressed by devs\founders. I plan on being here 10 years from now :)
https://steemit.com/steemit/@benjojo/ned-are-we-on-the-verge-of-a-steemtrain-wreck-steemit-inc-please-address-these-concerns
this is a relevant article to some of the other expressed concerns which ned has responded to...