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RE: Anticipating Dash Hits $800+ within 12 months

in #dash7 years ago (edited)

The problem with proof of stake systems is that they could be more easily seen as securities. One of the tests for a security is that income is derived from the work of others. Supposedly Bitcoin and other mined systems don't qualify, but master nodes derive passive gain to their holders and people can create pools of stake and thuis deriving money from others. The same is gonna be true about ethereum and the rest of the projects by the ethereum foundation. At the moment all we know is about the DAO's particular case but who knows what might qualify as a security.
I also don't like much the X11 cryptographic algorithm in Dash and the whole instamined 2 million coins by the creator and all the rebranding of its past (Xcoin, Darkcoin). Only instasend technology in it seems particularly good.

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The SEC already called Ethereum a currency, though, in their latest report. Meaning, they'd have to reverse on that statement. That said, it is mined, so if it switches, maybe the SEC eventually switches their stance.

If they do, expect a large ETH crash. Coinbase, poloniex, and bittrex would all have to stop trading ETH with US citizens.