Re: GAW Zen Hashlet Hashcoin unofficial uncensored discussion. ALWAYS MAKE MONEY :-)
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.
Anywho, I must sleep, I'm off for a bit.
I'll leave this for when you wake up
http://www.gawminers.com/pages/terms-conditions
https://zenminer.com/cloud/terms.html
Bonus points for spotting differences between the above and the older versions here, they tend to tweak them regularly:
https://bitcointalk.org/index.php?topic=720844.msg9401341#msg9401341
To me it looks like they have been rewording the "virtual" parts of hashlet definition to make it look LESS like a security, but I might be wrong.
I think you have the right of it. It appears that their lawyers had them change the wording in an attempt to make sure their products would not be considered securties under either the '33 law or the '34 act.