Arguments I found weak:
I. The Securities and Exchange Comission is governed principally by the Securities Act of 1933, which gives a definition of a security as follows :
1. Investment of Money towards a 2. Common Enterprise which 3. Depends on the Efforts of Others
That's not an argument, it's a point of fact. We're dealing with what is here, are you suggesting that people act so as to anticipate what "everybody thinks" (where everybody excludes those actually familiar with the topic) will happen in the future? What's next, tarot cards?
II. It is our considered opinion that Bitcoin does not constitute either “Money” as discussed in the second reference nor does a purchase of a Bitcoin denominated virtual security such as offered on MPEx constitute “the placing of capital or laying out of money” as discussed in the first reference.
Why does bitcoin not constitute money/capital? It is clear that bitcoins do hold a monetary value or they wouldn't be constantly selling for $100+ USD.
That you are able to sell something
for money does not mean that something
is money. I'd urge you to read more about currency and money in general and think for yourself about these concepts rather than depending on, again, "what everybody knows" etc.
"Bitcoin may be an item of value by one or more people" really?? This article pretends that the sole purpose of bitcoin isn't to store value. And the day that people begin using runescape cash/microsoft points to exchange securities I'm sure that SEC will be on their ass too.
It's not pretending anything, and again, this isn't about what the uninitiated "are sure will happen". What the uninitiated are sure will happen is common speculation, and there's a reason the actual players don't get themselves tripped up with it. As you've seen, those who would like to play but either cannot or remain willfully clueless do end up tripping.
I still think the only solutions are at least try to comply with SEC, or use something decentralized like colored coins that cant be shut down affecting shareholders.
Shocking as it may seem to every US citizen, your country does NOT have the right to expect everyone else to jump through hoops to ensure we don't happen to provide something to you which your government would prefer you not to have.
I think most US citizens will agree that it is bullshit that the US implies its laws on other countries especially when not even involving US citizens but that happens to be how it is.
The notion that anything not carrying the still-retarded, still-playpretend citizen finance banner, whether it's p2p or whatever else, will be shut down "because US" is very mistaken and probably an artifact of confused observation of how the play exchanges have crumbled thus far. That inept stuff ends up being unable to stand has zero bearing on the apt.
This entire "you should try to fit facts into uninformed guesses about the future to appease the gods which have no business here and which we wish would stop infringing on people but whom we insist will hide under your bed and eat you up at night" is really silly. Let it go already.
