No it's not an interesting take it's the facts. i've been a licensed professional in the securities industry over the last 20 years. That's not an opinion that's reality. The problem here on hive is many of the people coming in some this is their first investment they aren't knowledgable about any of these things. Our project bitcoin myk forks bitcoin. means if you hold bitcoin you have to receive bitcoin myk.
now gary genslar head of the sec has no intentions of coming after bitcoin. bitcoin doesn't classify as a security for him. ethereum does.. so at any point they could come after everyone but bitcoin but i doubt the regulations will extend deeper to bitcoin.
that's because with bitcoin you mine your own coins you don't profit off the work of others. Same thing with bitcoin myk you can't profit off the work of others because your value and your tokens exist because of you.. your network inclusion is part of the tokens you mint.. Yes you're right about game purchases .. businesses this person on your thread taskmaster he always talks about businesses on the chain because he doesn't understand a business on the chain is an unregistered security
so he may be fine breaking the law but let me tell you why i'm not.. i need regulation to come and get rid of all these scams and platforms that are the reason we dip 90% in most projects because they are utter garbage now you know what projects haven't dipped and remained down 90%? i can only think of 2.. bitcoin and bitcoin myk.. everyone else has bitten the dust and lost people alot of money because they are garbage.
another problem with a business on the chain.. why would i want that or a game or anything how would i enforce that? so what i have a ledger balance that doesn't mean if i have physical property or assets some place or servers that they will be protected by any entity so it's kinda uterly dumb... currency is different.. currency is not assets.. it's not ownership in your game
currency is your faith and trust and a ledger balance and all it does it becomes a medium of accepted trade.. a bit difference because with assets you want them to go up.. with currency it's best they don't go up but remain stable.. so i would say 90% of the people on hive don't understand this or they'd run to bitcoin myk although bitcoin myk is doing great network wise has already broken 20k registered accounts will surpass them quite easily.. they are measuring their success on speculation same as terra luna did not use case
if they were measuring on use case they'd ask questions like why is it that bitcoin myk can get 20k interested registered accounts and more but they can't? if i want a network i want the network with the biggest reach.. i want to do remittance payments globally i don't want 5 big money whales who manipulate the system when they get ready and call it success
so these guys have no idea.. guys like taskmastrer what they talking about or doing. that's part of the problem and that's why i gotta have regulation get here i'm cheering for it so we can stop this and educate people as they are going to get badly harmed already have... people already have committed suicide
bitcoin myk has done nothing but helped people.. distributed money to people with none only people it's harmed is greedy undeservant people who tried to manipulate the price.. that's the only people it's harmed.. so yea that's my take on that. keep doing what you doing.. keep using your brain as it's not many people on hive that does
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