his obvious option to dump Steem to zero.
I had the same thought. But I feel like we addressed that. SEC and prosecution will place value on the amount that was stolen at the time it was stolen, and/or the WORTH we can establish at the time it was stolen.
As for the class action, it was actually quite impressive to see how well prepared they do seem. I'll be curious to see how that pans out.
Honestly I'm going to be pretty surprised if he's not able to use Steemit Inc, the witnesses, and his country of origin as a meat shield. The idea that he would somehow be forced to pay out of his own pocket to make these reparations is so outlandish and out of the realm of possible outcomes for me... let's just say I'll believe it when I see it.
Exactly which court are we expecting him to physically step foot in?
I expect this matter to continue to be tried in the court of public opinion, and that's about it.
Although I will admit that it would look pretty good for Hive if we had our own Craig Wright situation popping up in the news circuit constantly.
It's because he owns 51% operating share. He is a centralized entity. He doesn't get to blame anyone else. His country of origin won't matter. The jurisdiction can lie in the Plaintiff's territory. They could do a multi complaint approach, or a joint plaintiff approach, and he'd have to answer wherever he was sued. If I were them, I'd take a multi-state, multi-complaint approach.
Did you pose these questions in the chat, cuz these would have been great to discuss. Sorry if I missed them.
Yeah I mean clearly Steem is a security I don't think anyone questions that. Still, I think crypto mafia wins, and I'm not talking about no Triads. The biggest cartel in the world are central bankers themselves. The scariest mobsters aren't murderous psychos; they're tubby pencil-pushers that sit behind a desk.
Eeep. And tubby, no less.
Agustin Carstens
Home for dinner.
You forgot the pencil.
Actually Justin Sun currently resides in San Francisco CA. and Steemit is a U.S. registered company. Plus Justin( as well as 11 others) is already involved in a large class action lawsuit for.... selling unregistered securities(tron and others). Since Justin and these others have centralized these tokens under their control they are no longer considered a decentralized token but a security.
That is correct. They would be treated as a security. It is not decentralized. I don't see how this changes the argument?