Re:Founder of crypto lender Celsius Network arrested, charge...
by RC_ITR on Thursday July 13, 2023 @02:30PM
(#36713923)
>Why do you then believe that cryptocurrencies are somehow different? How about Axie Infinity, which is specifically a game similar to Pokémon cards?
The first two words in NFT are "Non-Fungible." Those are certainly not securities.
Level-1 coins (and most L2) are fungible by design. He's not in trouble for dealing in NFTs.
If that's not a meaningful difference, then I'm curious for what your explanation is for why NFTs exist.
Re:Founder of crypto lender Celsius Network arrested, charge...
by banannaise on Thursday July 13, 2023 @03:47PM
(#36714993)
> After all, if you are willing to say that just wanting to collect and trade cards for purposes of making money is itself a game
Making money is not the reason that people collect and trade Pokemon cards, and if you think it is then your brain has been pretty badly poisoned by activities where making money is the only objective.
Why do you then believe that cryptocurrencies are somehow different? How about Axie Infinity, which is specifically a game similar to Pokémon cards?
Why is it somehow sufficient for Pokémon cards to say "a game is a game" but you say that for crypto and you are "shilling your shitcoin"?
Do you believe this to be different for baseball cards, which do not have a game, or for competing collectible card games which never got popular?
(After all, if you are willing to say that just wanting to collect and trade cards for purposes of making money is itself a game that establishes utility, what are you even trying to regulate in the first place? Aren't you then just making all securities into products?)