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RE: block.one – Statement Regarding the SEC’s Report on The DAO
I'm thinking that maybe this issue can't be cleared up without the risk of turning EOS ERC-20 tokens into 'securities'. It seems that those with money to 'invest' must do so on the assumption that:
- EOS is going to be a great platform.
- It is indeed beyond the reach of the SEC and other regulatory bodies.
- Because widespread distribution of tokens is essential (for network effect), and the most committed token holders will be those who purchased ERC-20, the token most likely to be used will derive from the ERC-20 token.
- The final EOS tokens will be issued in proportion to the ERC-20 token holdings, because otherwise a top-heavy stake distribution (like Steem has) may reduce the likelihood of widespread adoption.
I'm looking forward to investing my time developing software for the EOS blockchain, instead of a large token purchase, as this avoids making some of these assumptions. However, I've almost just convinced myself to to buy some tokens too!
Perfect. This is the kind of response that I was looking for, thanks for chiming in!
I'm a massive advocate for EOS and I literally have lengthy conversations about it daily with people. Due to the legal atmosphere and a lot of confusion surrounding it, the necessary wording of terms, etc. send many people into conspiracy theory world immediately and it becomes hard to not just tell some folks "quit being crazy, trust them, they're doing extremely important work, and more importantly, they now HOW to do it," when some of them come at me with "did you read the terms, it's worthless, it's a scam, I'm not touching EOS!" I hate that haha. I guess I was seeking for this comment to be a silver bullet for that kind of sentiment.
I was primarily fishing for an official response to the question that I posed so that I can make several hour long debates/conversations and condense them to a few minutes by keeping this link handy and sending it over to the person that I'm having the conversation with. In other words, it would make my life a lot easier since I'm trying to advocate as much as I can for EOS.
Of course, if you reside in the USA, do not purchase tokens.
The future is lookin' good, boys and girls.
I think you hit the nail on the head. Great comment.
If you invest your time developing software for EOS, i for one will use it and if it's really good i will happily promote it for free :)