Spoetnik warned you all - he's sicking the SEC on your ass now

[UnicornFarts]

guess the rumors were true

https://www.cryptocoinsnews.com/sec-sends-inquiry-letters-hundreds-bitcoin-companies-unregistered-securities/

[Palmdetroit]

So target is the exchanges?

WS also hates the overstock guy....

[Come-In-Behind]

So target is the exchanges?

WS also hates the overstock guy....

Target is U.S based exchanges or those operating with U.S customers etc.

[UnicornFarts]

So target is the exchanges?

WS also hates the overstock guy....

WS?  Yeah - I think both the exchanges and people selling promises of their company / coin / technology / whatever for $$.

Target is U.S based exchanges or those operating with U.S customers etc.

WOn't they have to go after the US customers?

[Come-In-Behind]

So target is the exchanges?

WS also hates the overstock guy....

WS?  Yeah - I think both the exchanges and people selling promises of their company / coin / technology / whatever for $$.

No, not coin(cryptocurrency). Only company.

[Come-In-Behind]

So target is the exchanges?

WS also hates the overstock guy....

WS?  Yeah - I think both the exchanges and people selling promises of their company / coin / technology / whatever for $$.

Target is U.S based exchanges or those operating with U.S customers etc.

WOn't they have to go after the US customers?

U.S customers? No, the ruling is dealing with the merchants themselves(and has been around far before Bitcoin came out.), not the customers(people using the exchange/bitcoin company).

[UnicornFarts]

So target is the exchanges?

WS also hates the overstock guy....

WS?  Yeah - I think both the exchanges and people selling promises of their company / coin / technology / whatever for $$.

No, not coin(cryptocurrency). Only company.

So Ethereum, SuperNET, BlockNET, etc all should be untouched

[Come-In-Behind]

So target is the exchanges?

WS also hates the overstock guy....

WS?  Yeah - I think both the exchanges and people selling promises of their company / coin / technology / whatever for $$.

No, not coin(cryptocurrency). Only company.

So Ethereum, SuperNET, BlockNET, etc all should be untouched

Technically yes they should be untouched. But the exchange(especially those in the U.S), are gonna be the ones getting "touched".

[UnicornFarts]

U.S customers? No, the ruling is dealing with the merchants themselves, not the customers(people using the exchange/bitcoin company)

I just don't really see how they can do anything about US people voluntarily interfacing with an overseas company

[Come-In-Behind]

U.S customers? No, the ruling is dealing with the merchants themselves, not the customers(people using the exchange/bitcoin company)

I just don't really see how they can do anything about US people voluntarily interfacing with an overseas company

Well, the ruling would require all those operating within the U.S(or catering to U.S people), to get registered as a money transmitter.I'm not entirely sure what effect this would have on overseas companies/exchanges, unless theyd be required to block ip's of those from the U.S if they aren't registered as a money transmitter within all 50 states.

[UnicornFarts]

U.S customers? No, the ruling is dealing with the merchants themselves, not the customers(people using the exchange/bitcoin company)

I just don't really see how they can do anything about US people voluntarily interfacing with an overseas company

Well, the ruling would require all those operating within the U.S(or catering to U.S people), to get registered as a money transmitter.I'm not entirely sure what effect this would have on overseas companies/exchanges.

good ole btc-e I guess.

they're going to be the last ones standing in this mess.

[Come-In-Behind]

U.S customers? No, the ruling is dealing with the merchants themselves, not the customers(people using the exchange/bitcoin company)

I just don't really see how they can do anything about US people voluntarily interfacing with an overseas company

Well, the ruling would require all those operating within the U.S(or catering to U.S people), to get registered as a money transmitter.I'm not entirely sure what effect this would have on overseas companies/exchanges.

good ole btc-e I guess.

they're going to be the last ones standing in this mess.

Coincidentally, I actually think this ruling would serve as the basis for enormous spikes/surges in the popularity of anon coins, along with decentralized exchanges(and those centralized ones not operating within the U.S).

[UnicornFarts]

Yep I happen to agree with you 100%. 

The more friction governments put on monetary transactions the more bearable all the downsides to crypto become in order to achieve much less friction.  More friction = worse for transparent blockchains.

[Come-In-Behind]

So Ethereum, SuperNET, BlockNET, etc all should be untouched

If by untouched you mean "The SEC is reportedly employing researchers that track down the people and/or companies behind domains and Bitcointalk accounts associated with certain IPOs" then yes, very untouched.

"The letters are being sent out to companies performing offerings on Counterparty, Cryptostocks, companies hosting offerings with colored coins, and companies who have performed unregistered securities offerings via Bitcoin Talk. In all cases the SEC is employing a team of researchers to track down the people or companies behind each offering via forum messages, domain registration information,  transfers of funds via exchanges and other means." - https://coinfire.cf/2014/10/27/sec-begins-sending-investigation-letters/

That doesn't go for cryptocurrencies that don't offer shareholder status which exempts Ethereum's IPo/Supernets/Blocknets from the ruling.....AKA only companies/crowdfunding sites are affected.

Unregistered securities- http://www.investopedia.com/ask/answers/08/unregistered-securities.asp

Ethereum IPO thoughts- http://www.quora.com/What-do-securities-lawyers-think-of-the-Ethereum-Genesis-sale

Supernet/Blocket depends on the efforts of a variety of blockchains and its people(especially Blocknet since it doesnt have one core coin, but would put Supernet more in the grey area and Ethereum might be as well, but I don't believe so), not one single team. IMO, it falls in favor of cryptocurrency trading(like Bitcoin), instead of speculative investments, which wouldnt make it an unregistered security.

[Spoetnik]

Hey i think you used my name to get people to read this LOL
well played sir.. well played

interesting stuff !!!

i looked at the link and right away i see "Counterparty" mentioned as the cause ?
so staff here it is Altcoin related
and before i seen this topic i seen on a chat box a picture posted of the SEC giving Ghash.io a subpoena..

[Come-In-Behind]

That's one train wreck of a first name. You gotta dumb it down a bit because i don't understand the relationship between altcoins and ghash/cex. I thought GHASH was a mining pool and if my memory serves me correctly CEX sells mining shares?

I believe Ghash(mining pool) is owned by Cex.io(exchange), which is also a company(Cex.io).

https://en.bitcoin.it/wiki/CEX.IO

[Spoetnik]

That's one train wreck of a first name. You gotta dumb it down a bit because i don't understand the relationship between altcoins and ghash/cex. I thought GHASH was a mining pool and if my memory serves me correctly CEX sells mining shares?

click the link in the OP's comment.. it mentions on the first paragraph,

Hundreds of Bitcoin companies that have released unregistered securities on Counterparty, Cryptostocks have been sent inquiry letters by the SEC.

see how the 100 sec subpoena's may include GHASH.io too ?

edit:
And guys i have not verified any of this is true have you ?
for example that picture i posted may have been forged/fake.
i have not seen one comment anywhere mentioning this point on 3 sites.. everyone is just assuming it's true.

edit2:
EvilDave must be shittin ! LOL
Search this place for keyword "Counterparty" for additional info

[2dogs]

Bitcoin Reddit ‏@RedditBTC 9m9 minutes ago

GHash/CEX received a subpoena from the SEC as a part of their recent action http://ift.tt/1zCgm6g

[jasemoney]

can anyone read fotoforensics?
http://fotoforensics.com/analysis.php?id=728beb64ac6bbcb9b7c8558976de7d198144c696.58417
(I've been slighly impressed with ELA analysis after the URO fud thought the dev was photoshopped into a room with business partners.**which was bullshit haha)

[Spoetnik]

see how the 100 sec subpoena's may include GHASH.io too ?

You guys are making me do some homework, I had to learn what counterparty is, lol. The thread that ties all these subpoena's together are that they are all companies. The US gov is going very aggressive on this but the line seems to be drawn at companies. This will have an effect on US based companies but oversee's companies will see no ill effect except for maybe a boom in business.

hey ME TOO ! ahhah

i barely know anything about "Counterparty" (an alternative digital currency of some sort posted here)
..i heard about it and that is about it pretty much lol

edit:
Although i HAVE used Cryptostocks before.. i bought and sold Cryptsy shares on that digital stocks trading site.