Is Ethereum a security? - Links to the best read and All you need to know

So today SEC will decide whether Ether presale was an event of security sale or not. There is a very common understanding that if the Howey Test is applied to the given token, and it fails then we can't term it as a security.

In layman's terms, the Howey test is used to determine if the value of a transaction between two parties is dependent on one of the parties work. This very test has been the subject of much speculation when it comes to cryptocurrencies, and especially initial coin offerings (ICO).

Here is what Ether's founders Joseph Lubin stated "I think we already have a regulatory scheme; securities laws in this country govern securities. If you fail the Howey test, you're not a security. This is a way of accessing a shared compute resource, so I'm not sure [ETH] needs to be regulated in any way."

So Ether is not a security right? [still confused]

Here are the links where you can find more it.

https://cointelegraph.com/news/it-never-was-a-security-ethereum-under-the-regulatory-spotlight
https://consumer.findlaw.com/securities-law/what-is-the-howey-test.html
https://www.reddit.com/r/ethereum/comments/8h9ucg/what_if_eth_is_a_security_according_to_the_sec/