Coin As Securities And Coinbase Listing Only Hive And Bitcoin
With the potential resolution coming up in the Ripple case, it might end up that it is given a pass as a security.
This is something that might be a rarity.
In this video I discuss the idea of Coinbase having only non security coins. Imagine Hive being listed on there.
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@cryptohaytham(4/5) tipped @taskmaster4450
great conversation at CTT today, very cool
I also think that the SEC wouldn't touch algorithmic stablecoins but they could tell all CEX to remove HBD from it's listing. I wonder if the price feed for them will be what the Defi pool reports instead of an exchange like it is now.
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It would be very good, if Coinbase would accept the Hive and/or the Hive Dollar (HBD) directly. I (and many other people) would be able to sell it directly for Euro (EUR), without the need to sell it for other cryptocurrency first.
Utility tokens defeat securities law.
Hive yield farms bandwidth itself; a pretty good utility.
You can't use the network without it, and it makes ops 'free'.
Hive is never a common enterprise to be derived by others because it is an open network in which anyone can contribute and develop upon. Hive is sometimes an investment of money unless you earn Hive from upvotes. Most users expect a profit long-term but this profit has not been shilled by any kind of investment contract.
Basically if the SEC tries to call Hive a security they've reached the point of complete absurdity... although I wouldn't put that past them. We can already see that narrative bleeding through as they lose control of this sector and scramble to rein it in.
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Summary:
In this video, Task discusses the potential implications of the lawsuit against Ripple on Coinbase, particularly focusing on how the outcome might impact the listing of various cryptocurrencies. He highlights Hive as an example, stating that Hive may not be classified as a security due to its unique distribution method and lack of a central authority. Task explores the possibility of Coinbase only listing Bitcoin and Ripple in the future and speculates on the regulatory challenges centralized exchanges might face, especially regarding algorithmic stablecoins like HBD. He concludes by suggesting that Hive and Bitcoin could be primary tokens on Coinbase in the future.
Detailed Article:
Task initiates the video by drawing attention to a recent article pertaining to Ripple's legal predicament and its potential influence on Coinbase's cryptocurrency offerings. He cites the possibility of a split decision in the case, with Ripple being deemed a security for past transactions up to 2018. The outcome of this lawsuit could impact how Coinbase lists cryptocurrencies, leading Task to contemplate if Coinbase may eventually be limited to offering Bitcoin and Ripple only.
Furthermore, Task delves into the unique nature of Hive, arguing that it may be exempt from the security classification due to being distributed through an airdrop rather than a sale. He highlights that Hive lacks a formal organization behind it, distinguishing it from traditional cryptocurrencies associated with a foundation or company. These distinct characteristics lead Task to speculate that Hive could potentially be listed alongside Bitcoin on Coinbase in the future.
Task transitions to discuss the challenges centralized exchanges like Coinbase might face, particularly concerning algorithmic stablecoins such as HBD. He predicts that future regulations in the US and possibly other regions could ban such stablecoins, necessitating their trading on decentralized exchanges. Task foresees Hive and HBD primarily being accessible through decentralized platforms, emphasizing the importance of network effects over massive capital influx for token valuation.
In the latter part of the video, Task compares Hive to Bitcoin, emphasizing the lack of a promise for monetary returns and the focus on governance capabilities as distinguishing factors. He questions the security status of cryptocurrencies like Litecoin and explores the potential scenario where Hive and Bitcoin emerge as primary tokens on Coinbase. Task concludes by expressing skepticism about Coinbase sticking solely to Bitcoin and contemplates potential regulatory shifts that could influence the cryptocurrency landscape globally.
In closing, Task signs off by suggesting that the regulatory environment around cryptocurrencies is likely to evolve, necessitating a balance between control measures and market innovation. His analysis underscores the intricate interplay between legal frameworks, decentralized finance, and centralized exchange operations in shaping the future of cryptocurrency adoption and trading.
Notice: This is an AI-generated summary based on a transcript of the video. The summarization of the videos in this channel was requested/approved by the channel owner.