Quote from: Vannicke on November 18, 2014, 09:39:44 AM

Quote from: hashie on November 18, 2014, 09:29:56 AM

It's considered a security.

Securities Act of 1933:

Quote

(1) The term security means any note, stock, treasury stock, security future, security-based swap, bond, debenture, evidence of indebtedness, certificate of interest or participation in any profit-sharing agreement, collateral-trust certificate, preorganization certificate or subscription, transferable share, investment contract, voting-trust certificate, certificate of deposit for a security, fractional undivided interest in oil, gas, or other mineral rights, any put, call, straddle, option, or privilege on any security, certificate of deposit, or group or index of securities (including any interest therein or based on the value thereof), or any put, call, straddle, option, or privilege entered into on a national securities exchange relating to foreign currency, or, in general, any interest or instrument commonly known as a security, or any certificate of interest or participation in, temporary or interim certificate for, receipt for, guarantee of, or warrant or right to subscribe to or purchase, any of the foregoing.

Quote from: GAW website

This is guarantees your investment is protected and secure

http://www.gawminers.com/pages/hashlet/

Does a "Digital Cloud Miner (DCM)" fall under the definition? From what I can tell the product is marketed as miner rental, not a security. I have an "investment" in CoinTerra and BFL in that I own and operate their hardware, I don't see the wording here implying this is anything other than hardware rental (even if it might be rental of a rental).

Anywho, I must sleep, I'm off for a bit.

The thing is, it doesn't matter how you word it. Participating in any profit sharing agreement is by definition a security.