Ethereum make or break !!!

in #cryptocurrency6 years ago (edited)

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One of the earliest crypto currencies in the market Ethereum was a revolution for the blockchain market, offering smart contracts to new and upcoming ICO's on its ERC-20 platform. It is on the second position in the market with a market cap of 70 Billion $. 

The Big News

The SEC (Securities and Exchange Commission) and the CFTC (Commodity Futures Trading Commission) are having a meeting together today to talk about Ethereum being a security currency or not. This can have a massive impact not only to the currency on its own but the market as a whole. Either the market can have a bull run and an all time high or can sink in from a bear market because of FUDs. All this can happen from the decision made during the meeting.

The discussion that will take place is whether the ICO launch back in 2014 which raised 18 Million $ worth of Bitcoin can be regarded as security or not. Their reasoning is that investors likely bought the tokens at the time, in the hopes that their value would increase in the future. If this is the case the Ethereum foundation should have registered the token as a security. 

No Ethereum is not a security for me. It might have been classified as such back in 2014 but today the Ethereum network as a whole is not a security. It doesn't rely on the foundation rather flows from the efforts of thousands of developers, miners and users. This decentralized network is hard to distinguish from Bitcoin which is considered a Crypto currency.

The outcomes from the meeting matter alot. If the decision is made that Ethereum is a security it will be the worst case scenario for the currency. This can plumett the currency however this is the least likely scenario because of the strong community built upon Ethereum involving influential people around, who are in communication with the regulators and have a say on the decision. If Ethereum is declared a security then all the ICO's built on the ERC-20 blockchain will be declared a security which will drop the price of these currencies. Only Bitcoin and other proof of work coins that are transparent will be safe.

The more likely scenario will be the Ethereum foundation might have sold the token in pre-sale in 2014, but today the network is a working crypto currency. The foundation itself might get a fine just a light or minor action taken against them.

If Ethereum is declared not a security. This will just boost the Ethereum and other ERC-20 coins market taking all time highs creating a major bull run.

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You have a minor grammatical mistake in the following sentence:

This can have a massive impact not only to the currency on it's own but the market as a whole.
It should be its own instead of it's own.

Thank you

I hope that whether or not it becomes a security, Ether will keep making cool smart contract projects that can really impact how we decentralize many industries that are monopolized by corportations. Thank you for your post!

Yes but the thing is it can really create FUDs and regulations on its operation

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I lost a significant amount of money with etherium, among all the others after Christmas. I'd rather invest in XRP now, that's been always separate from bitcoin.

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