Re: GAW / Josh Garza discussion Paycoin XPY xpy.io ION ionomy. ALWAYS MAKE MONEY :)
I see now. Good article below sums it all up. Essentially:
the nine-member jury found that none of the four crypto products at issue in the case was a security, so Fraser could not be liable for securities fraud.
https://www.reuters.com/legal/transactional/apparent-first-conn-class-action-jury-finds-crypto-products-are-not-securities-2021-11-03/
the nine-member jury found that none of the four crypto products at issue in the case was a security, so Fraser could not be liable for securities fraud.
https://www.reuters.com/legal/transactional/apparent-first-conn-class-action-jury-finds-crypto-products-are-not-securities-2021-11-03/
Genius move by Homero to dress the hashlets up in PNGs and add rocket boosts and all that shit... turns out that makes nine random people believe that they have control over the result. Who could have thought
This sounds like it should be appealed.
Edit - just to clarify for anyone who may not remember how this worked: there were no "mining pools" like the Reuters article claims, the whole thing was fake AF. So at best you had 4 or 5 different securities (fake "pools") that you could switch between (and even then only one hashlet type allowed switching; others were locked into one "pool"), but the results had fuck all to do with user's actions. That's like saying your ability to trade stocks at a brokerage makes them not a security because your decisions affect your profits.
Someone really messed up those jury instructions or the jurors are as dumb as a bag with nine rocks in it.
I accidentally exposed the lack of pools by mining at mmpool.org
I used nicehash west and did not use nice hash east.
as I had a small amount of the xpy coins and they based the payouts on nice hash east.{iirc}-
So since they had no hash and only mirror the nice hash numbers. I drove the earnings up 6 fold. I pointed it out and got a lot of threatening emails and pm's I sold my few hash lets. mentioned that the model they used to 'mine' was no good.
The amazing thing is the con still want on for six more months even though I clearly showed they had fucked up methods to determine earnings.