What nuttiness.

The Securities and Exchange Commission is not a "fiat institution". They have nothing to do with issuing currency, or the banking system. They regulate investments sold to US persons. It doesn't matter how those investments are denominated. The investment can be be denominated in oranges, as in the Howey case. Or Bitcoins, as Trendon Shavers found out.

Your detachment from reality is why you will end up rotting in a jail cell when the SEC/feds are done with you.

It's about time we stop pretending that using funny money makes us immune to all existing laws as the people making those laws seem to think they still apply.

The sooner this community gets rid of these stains/schemes currently tainting the innovative and revolutionary world of bitcoin which they are piggybacking, the sooner we will make progress.

The operative word here is unregistered  securities .There is a a whole different gamut  between what's ethical and what's legal,  lest we really want to derail this thread **cough*MLM*cough**

One thing I learn observing scam and frauds(on both scam promoting and scam busting forums) is how surprisingly lack amount of resource and priority(even more so after 9/11) given to blue collar and financial crime  busting agencies(including SEC) by the US government .It takes them years of investigation to shut down frauds that are based on their own back yard(Zeek,Ad Surf Daily etc) and the same can be said when dealing frauds abroad(Profitable Sunrise),not to mention most smaller/medium sized scams flew below their radar.That is why many frauds(mostly ponzis and pyramids) that crash/ran away with funds in less than 2 years escaped the SEC, and most of the fraudsters knew this .I say we should wait around a year or so (at least) for the MPEX/SEC thing to pan out.


As other posters have pointed out, SEC  jurisdiction is dependent upon whether or not  your "business" targets US customers, not the denomination used by the exchange(gold ,Bitcoin Euro).You can use entire barter-based  payment option with rice and goats  and the SEC will still target you in they believed you're defrauding/soliciting investment from US citizens, regardless which country you operate from.

Again pretending that using bitcoin makes you immune to all existing laws.

Do you honestly think that would hold up in court?

The SEC/feds are not as stupid as you think.

So far, Bitcoin progress in its entirety consists of MP's stuff...
You give Satoshi no credit at all for "Bitcoin progress?"
You give no one on this forum any credit for "Bitcoin progress?"

Are you serious?

Hope they all go to jail. Voorhees is also member of organized crime network "Bitcoin Foundation". Hope he get 10 years at least.

The Howey test in a nutshell:
1. an investment of  "X"due to
2. an expectation of profits arising from
3. a common enterprise
4. which depends solely on the efforts of a promoter or third party

"X" must be some that hold monetary value or be money itself

so
Bitcoin does fit what I described as "X" perfectly .

Are you trying to argue that Bitcoin is just monopoly money(I'm sure everyone here will takes issues with that )and any contract denominated in Bitcoin  is worthless?
Perchance you could introduce those collegiate hooker to the rest of us?I'm sure we would love to "meet" them.Some probably could have some "fun " with someone retarded "special" enough to sell themselves for toy money,although I'm not  a fan of taking advantage of the mentally disabled myself.

Do you know that certain MMORPGs  have very dynamic financial ecosystem that mirrors real life quite eerily?Take EVE Online for example:players have set up functional banks, multitudes of financial investment firms and even non functional frauds(ponzis, pyramids and whatnots) dealing with the in-game currency.Yet the SEC and other security commissions don't even bother with them despite the value(the in game currency can be "bought" with real cash  , they however can't be cashed out) in the ten of millions of USD.Why? because like your monopoly money/properties example, those in-game  currencies and investment have no monetary value in real life.

Interesting conjecture there.Which part of what I've stated is untrue?Or maybe you are just as unclear on the concept of an internet forum as well.



A tango with the SEC always follows the same predictable trajectory.
When ever they open a case the outcome is either:

1.The company be cleared and continue to operate.
2.The Fraudulent enterprise folds(either crashing or simply run away) before SEC concluded their investigation, pretty much escaping with the investor's money.
3.The SEC and the relevant authorities closed them  and seized their assets.Civil/criminal charges will follow and there will attempts for the victims to be made whole.This usually/could take years , sometime even decades.


My point is the inquiry (from what is gathered is about one of MPEX's "customers", not MPEX itself) is just a preliminary action.The real shebang could happen years from now(going at the historical pace of past investigations).Don't delude your self into believing you have accomplished an outstanding act of defiance , that didn't work as well for Andy Bowdoin  either.

Ignoring all the unwarranted reddit stuff,


That's true, specifically, we will get to determine whether the SEC will continue to maintain relevance in the future, or disappear into the unheard-of heap, alongside the Mиниcтepcтвo финaнcoв PCФCP, the Austro-Hungarian Schatzkammer, King George's Board of Trade, and other extremely important in their day, meanwhile disused institutions. At any time the SEC feels ready for the test.


Unrelated shit is unrelated; don't delude yourself into thinking your retardation is novel or important - there's a lengthy list of equally confused idiots buried in my metaphorical forum back yard. Course there is such a thing as invincible ignorance, but that works for groups not for the individuals.

An outstanding act has already been committed. This is, again, not for worthless you to establish; it has been called such by people who make the topic their business, so that's what it is.

Defiance was never the point, I'm sure. Whatever unresolved problems with authority you may be nursing and are presently allowing to bubble up in relation to MP and so forth aside, you can inform yourself on the topic by re-reading the ample commentary supplied by actually qualified participants, including my posts in this here shithole.

Ignoring all that points and facts you can't refute ,I see.We can definitely see how well you will do in courtroom cross examination


Should/if the USA fallen like all the regimes those organisation were attached to your notion might be worth musing .Until then keep your fan fictions in more pertinent forums .I think I say for everyone here that  your speculative fantasy isn't something most of us are interested in.


Famous last word indeed.



Sorry ,but what part of her twitter that mentioned your meaningless act of defiance as "outstanding"?

Ahh, ad hominems whiles still refuse to engage any of the issues I raised.Clearly you have won this debate.

Which qualified participants that supported your points,again?I fail to see a single one.Besides , Andy Bowdoin's  attempt at  fighting against the SEC and "evil US government" was far more epic(divine comedy level ,even) than  your simple refusal to co operate with the SEC, albeit just as impotent.

Perhaps you you would  like to explain your position in scam and law related forums (like quatloos, or realscam e.g), many there actually have background and experience in both scambusting and legal matters. I'm sure they'll just as impressed as I am with your performance.The education you'll received there will be priceless.

Still out of SEC focus in my opinion one Eric Shut Down US based gambling on Satoshidice before closing the stock.
I can see their rationale though of looking at every shareholder then tracking the ones with Bitcoin addresses from the USA
Still feels a bit strong for a privacy invasion but then again that's what their known for (Assange + Snowden)