/biz/ - Business & Finance

>>11677879
"we're going to catch the bad guys! and save you all from scams!!"

>throws the book at the owner of legit dex

People will dump their shitcoins to ETH
embrace for ETH pump

ETHERDELTA WAS GOOD YOU RETARDS

>>11677888
Omg this. There are so many better targets.

fucking sec REEEEEEEEEEEE

>>11677879
Anyone else remember that ED chink token scam? EtherDelta Token - what ever happened with that?

>>11677879
shit, is IDEX next?

>>11677879
Isn't it like... Impossible to stop it as long as ETH network is up?

But but but it's a DEX

What other exchanges they could go after on the same charges?

Lmao
And you cucks don't believe that shitcoins like link are securities!

ED sold their "exchange" to chinks
thats why it went to shit

https://youtu.be/Lrf29R4H9pQ

>>11677879
Why do Americucks hate freedom so much?

It’s decentralized they said
DEXs are the future they said
Be your own bank they said

>>11677931
they can seize the domain and/or server hosting the front end. iirc theres no "offline" version of ED you can download + run yourself like with Augur

Interesting choice. My guess is they targeted ED specifically to make a point that decentralised programs running "freely" on global platforms are still within the regulatory purview of muh SEC.

>>11678079
Any dex can pop up and tap into the smart contract, which is secured on the ethereum blockchain. There is no stopping it.

>>11678082
Where do we need to meet to overthrow the sec

>>11677879
>operating
>decentralized exchange
How? SEC needs to arrive in the 21th century

>>11678079
It's a pain in the ass but it can be done, there are guides for downloading and running a local copy ED on your own pc, the site's just a UI for interacting with the smartcontract.

>>11678129
>▶
>>>11678079
>>11678082
>>11678079
The only thing this will do is make entrepreneurs go to Malta, Singapore or Bahamas to open up exchanges. EU killed themselves out of the internet by stopping innovations in the 90s.

>>11678180
Malta is in the EU dumbo

>Cryptocurrencies without decentralization.
>Centralized exchanges
>Second layer settlement channels (centralized hubs)
>Institutional investors
>Custodians

>>11677879
JUST in

>>11677909
Are those other targets american?

>>11678236
(You)

get ready for 100 etherdelta mirrors. They have no idea what they are doing

is binance a "registered exchange"?

how do they intend to go after a decentralized exchange that you can literally run the front-end locally on your local machine, pic related
>>11677918
it was a scam

>>11678244
Is Etherdelta? (hint: it's not)

This must be the fault of the fucking libcucks...No wait, this is the fault of that racist right wing party. Oh, wait...maybe they're both just terrible and the American government on all fronts is shit. Who could have guessed?

>>11678271
They know what they are doing. Of course they can't stop it, but they will make an example out of this guy so people will think twice before designing permissionless trading platforms.

Etherdelta is permitting Americans to trade tokens that are 100% without a doubt securities (and the token creators themselves don't argue with that).

That's the only problem. Etherdelta could come into compliance with one little dumb IP block like the linkpool DEX does.

>>11678194
Not in the 90s, retard. Besides blockchain and internet are two different technologies. You can succeed at one and failed at the other. US is failing at the other.

Kek just imagine when they pay them enough to go after Binance

holy shit muricans cant be more cucked than this

what a weird country

>>11678318
it really depends on what you mean. the SEC is upset because Etherdelta is letting americans trade tokens that the token creators themselves say are securities, while not being registered.

this isn't particularly "anti-innovative" and is entirely different from going after tokens that have a strong argument for not being securities.

>>11677879
lmao thats literally the place where i bought my 80k link stack

>>11678318

>>11678346
they should arrest vitalik if they are upset about people trading ERC20 tokens
EtherDelta is just a interface

>>11678346

>Etherdelta is letting americans

it's a ui to a decentralized smart contract on ethereum platform

surely it's the americans who are illegally using it to buy securities that are at fault?

>>11678346
being run by an american doesn't help. they could easily get to him. allowing all tokens to be traded didn't either. other 'dexs' are more selective with the tokens they list.

>>11678304
good luck tracking anyone down

is binance safu?

>>11678376
>Run
Etherdelta is open source
It is like going after Turing for child porn on the internet

>>11678325
The country is run entirely by dated boomers who are incredibly corrupt paid off to make laws based on the wills of massive multinational corporations? Have you watched any of the house/senate meetings for crypto?

In the last one I watched the one politician said
>Well, I'm a flip phone kind of guy myself
then held up his flip phone

Another politician said,
>Well, we certainly aren't in the peanut fields of Georgia anymore

Or how about the Zuckerberg hearing? Did you watch that? They had no fucking idea what they were talking about. That's why American politics is such a waste of time. It doesn't matter if you vote right, or left, or green into office. They're all going to be shit. Obama was shit when he was in office and let all his constituents down. Now Trump is doing the same thing. Its always trash. Spending your life on politics in America is such a fuckin terrible waste of time. I can't believe the countless hours of lives people on /pol/ have wasted fighting for their side to win in this dual party farce based on identity politics. What a waste of life. They're just as bad as the normalfags on Twitter, just the other side of the coin. Just KYS at that point.

>>11678385
Can burgers use Binance?
Does Binance list tokens (securities)?
Answer: smackdown is coming

>>11678399
likely all ERC tokens will be delisted

>national securities

>>11678393
so much this

so annoying when people give me shit for not wasting my own time to go and vote when I couldn't give less of a fuck about the USA.

>>11678399
Binance doesn't require a KYC unless you want to withdraw more than 2 BTC per day. Binance doesn't care about legality. That's why they moved from China to Malta.

That's part of why Binance is such a major exchange and Bittrex fell to the wayside. While Bittrex was stuck delisting a ton of coins, very limited in what it could list, etc. (not to mention its vastly inferior user interface & lack of cell phone app), Binance took the lawless route. That's why I don't think they will start doing KYC either. As long as they can remain lawless, they get to list all the coins they want, and will get a ton of users.

>>11678379
Also seizing domains will become orders of magnitude harder in 2019. That's all I can tell you but it's about to happen. Screencap this.

>>11678425
KEK

>>11678438
this is so wrong it hurts. binance has listed nothing the SEC has come down on for being a security and is working diligently to make something like a second exchange to allow the trading of securities, because it's not just the U.S. that restricts who can buy and sell securities.

https://www.finder.com.au/binance-on-track-to-offer-security-tokens-pilot-commences-2018

they've been a little cavalier, sure, but they fully intend to be as compliant as possible.

>>11678386
no it isn't. etherdelta trading wouldn't exist without zach launching the website
>>11678412
no, not all erc20s have been defined as securities. there is a difference between allowing all tokens, some possibly securities to be traded for each other and forcing each shitcoin to get a legal opinion that they are not securities before listing.

>>11677879
Alright show's over goys, nothing to see here:

Without admitting or denying the findings, Coburn consented to the order and agreed to pay $300,000 in disgorgement plus $13,000 in prejudgment interest and a $75,000 penalty. The Commission's order recognizes Coburn's cooperation, which the Commission considered in determining not to impose a greater penalty.

https://www.sec.gov/news/press-release/2018-258

I once put up a sell order on ED where I sold 0.001 ETH worth of tokens for 100 ETH and somebody filled it. It was crazy, I am a poorfag too but now I at least have 20k dollars.

>>11678474
>pay $300,000 in disgorgement plus $13,000 in prejudgment interest and a $75,000 penalty.

>>11678467
The sec said that most icos are securities. The chairman said that all icos he has seen are securities.
Binance lists a shit ton of icos. Hmmmmm

>>11678474
it's not even against ed just him. ignore the scaremongering faggots that appear in these threads

>>11678468
if you run an ICO then it is a security

>>11678468
>Childporn on the internet wouldn't exist if Turing wouldn't have developed the turing machine
You could go right now, copy the smart contract and make your own etherdelta. The sec is operating like if it is still in the early 20th century. He will walk free and gets recompensated for the damage the Sec did. Either way the tax payer is the fucked for maintaining outdated corrupt institutions

>>11678615
>The sec is operating like if it is still in the early 20th century

This is so true. Inevitably >>11678474 this happens because the SEC is just trying to puff their chest. "We can still charge you!"

Yeah, they had nothing on him. Pays the fine and walks away. This is a real life example of decentralization owning an institution

>>11678701
But he still was fined hundreds of thousands of dollars

>>11678735
this guy is probably pretty rich after making the smart contract on ED, he made a % cut off every trade.

>>11678701
Maybe it is time to shill for the Ford family to be jailed for drunk driving

>>11678297
We let the banks become too powerful, all because boomers wanted a big house and a boat.

>>11678793
Nothing that can't be reversed with a mob and a guillotine

>>11678793
Agreed. Real change won't occur until the boomers die. We have to make sure we don't make the same mistakes of the boomers too. We should be pushing money towards advancements in science, healthcare, sustainable energy production, etc., not towards mini-malls and suburbs. We need to be fighting against the rule of banks and corporations and giving rights back to people instead.

Unfortunately, the current state of politics is dominated by snowflake mentality, with pink haired SJW women on the left side, and angry, jaded young white men on imageboards on the other side.

Both sides are total cults though. They follow what their party and what their cults tells them and anything that doesn't fit in with their very limited mindset is deemed wrong. Progress will come from objective critical thought, personal action, sustained projects, and the rebuilding of communities and social networks off the internet, not voting, not relying on politicians, and certainly not screaming about shit on social media and 4chan.

>>11678393
What the US needs to realize is that this country is run by a powerful group of unelected entities (banks), who buy politicians to represent them. Voting has NOTHING to do about voting for YOUR /guy/. They always win no matter who gets elected because they own the political institutions.

>>11678846
>healthcare
Scam
>(((science)))
Scam
>sustainable energy production
Biggest Boomer scam ever

Shu shu Boomer

>>11678427
nigger.

>>11678288
No. MtGox 3.0.

>>11678871
Ok, so where should the money be going then? What should tax money be used for? (In before taxation is theft; I agree).

>>11678467
Are you retarded? BNB is literally the definition of an unregistered security

>>11678884
>What should tax money be used for
External Security, i.e army Period

>>11678288
No. That's why they use USDT, so they can evade USD money laundering and fraud regulations.

>>11678483
its so obviously a money grabbing scam

>>11678438
This is the reason I like binance. Only ones continuing the lawless ancap tradition.

>>11678878
>>/pol/

>>11678288
It's registered in Malta

>>11678271
You think itll pull a megaupload?

>>11678271
is this possible?

>>11678271
you mean less liquidity and a binance exit scam

>>11679164
ofc it is, you can download the front end from GitHub and run the thing yourself on your own pc right now

>>11679203
The order books are still centralized on the back-end you absolute tech illiterate brainlet

>>11678427
Cringe

Ok time to get my shitcoins off binance

>>11677879

EtherDelta gets charged while Mercatox continoues business as usual

>>11677879
AKA "use coinbase or else"

>>11677879
How is Etherdelta harmful to society such that its creator needs to be punished? These guys are jackals. Best to get out and cut exposure if you can. What's the best actually free country? Singapore?

>>11679218
this right here is what I was wondering about. decentralised order books would mean that every order has to be on the blockchain. etherdelta doesn't work that way. wouldn't be feasible... even having them on more than one server at a time would be super risky

>>11679477
Shut the fuck up goy, buy these bonds

>>11679443
Fuck goybase. So they can keep my fucking funds hostage for 30 days? Fuck that.

>>11679256
>I call everything cringe

FUCK THE SEC!

How dumb are you ppl on this board? Constantly blaming "boomers" for everything that is wrong in the world as if economic or social inequalities never existed before their generation and the world wasn't always run by the elite throughout human history. Please, 80% of you shut the fuck up about politics, you have no idea what you're talking about.

>>11680067
>T. butthurt boomer derailing blame away from themselves as always

>>11680102
I'm not a boomer you fool

>>11677879
Guys this is actually super bullish. Now the etf decision is guaranteed to go through!!!

>>11680257
Guaranteed to get denied you mean.

>>11680279
Why? This is great. And even if it doesn't i hope btc drops with a huge alt bloodbath

>>11680291
Because it proves that crypto is filled with people trying to skirt the law and manipulate the market. If anything it shows that the SEC is fed up with all these exchanges and are bringing the hammer down.

OH LOOK CRIMINALS GOT REKT

>>11679218
hahahahahhahahahahha
you literal retard, thats IDEX. ED has used actual smart contracts that let you execute transactions, it may of changed since to use a backend to show orders on chain quicker but it still is a dex
fucking top kek mate

>>11677879
This can't follow through, genuinely if this decision is upheld cryptocurrency dies.

Anyone can interact with the contract, it's not hosted anywhere but eth.

>>11678079
This is where holochain comes in. Do you all realize now?

>>11680348
>ED has used actual smart contracts that let you execute transactions
Has nothing to do with the order book fucking brianlet

How exactly did the owner of etherdelra operate an exchange? He didn't facilitate any of the trading, only allowed people to do it amongst themselves.

It's kinda like pirate Bay makes it easy to get torrents but doesn't actually seed themselves.

>>11678271
They are going to keep shutting down Etherdelta mirrors until no one knows which is legit anymore and dilute all the traffic it once had like public BitTorrent sites. You don't want to put your money into some shady domain like etherdelta201.ru

settled for 388k usd
https://www.sec.gov/litigation/admin/2018/34-84553.pdf

SEC is unconstitutional anyways

>>11681861
> that dumb not to realise that the order book is just a cache of what is on chain so its far quicker

My dad works for sec and I can tell you that they are working on Arthur Hayes and bitmex as their top target. Unregistered margin trading is no joke.

>>11682978
My husbands daughter is with Nintendo. Get ready for the next Zelda for the Switch

>>11677879
> (Reuters) - The U.S. Securities and Exchange Commission (SEC) said on Thursday it settled charges against Zachary Coburn, the founder of cryptocurrency token trading platform EtherDelta, over operating an unregistered securities exchange.

> The vast majority of the orders placed through EtherDelta's platform were traded after the SEC had issued its 2017 report, in which the agency concluded that certain digital assets were securities and that exchanges that offered trading in these digital assets would be subject to the SEC's registration rules.

> EtherDelta offered trading of various digital assets and failed to register or seek an exemption, the SEC found.

> "This is a significant action by the SEC because it is the first enforcement action again an illegally operating exchange," Dina Ellis Rochkind of the New York law firm Paul Hastings LLP said in an email.

> "If you are trading securities – which most ICOs are – they must be traded on a registered Alternative Trading System or National Exchange. This will likely be the first of many enforcement actions and think the following sentence is interesting," Rochkind said.

> Coburn consented to the order and agreed to pay $300,000 in disgorgement, along with $13,000 in prejudgment interest and a $75,000 penalty, though he has not admitted or denied the SEC's findings.

>>11680122
>I'm not a boomer

>>11682978
It'd be nice if people finally stopped donating money to Arthur and bought the coins instead

>>11678297
Who do you think stands to lose the most from the migration to decentralized crypto. I don’t know, (((trusted third parties))) like bankers and international capitalists?

>>11678456
This unfortunately. Oh well, bring on the decentralized DNS’s

>>11678846
>boomers die
Then we become majority brown. All that shit you want, science, healthcare, schools CAN NOT HAPPEN if it is our primary objective to spend our money feeding infinity niggers.

>>11683143
The people who can just print the money will be fine when they finally want to switch. Old folks and low IQ people will be hit the hardest. If you have no value before you will be absolutely justed after.

>>11683286
Not necessarily
Being dumb and violent can take one far in a world of betas and basedboys

>>11682130
>thinking the order book is on chain
You're even fucking dumber than I thought kys so you can't reproduce to lower all of humanity's collective IQ you absolute fucking nigger tier brianlet

>>11684375
On chain order books are coming. Arthur Hayes filled me in.

Also buy Snowblossom

>>11679602
Blocknet already solved this.

Clients (traders) have their own orderbooks built locally, based on what chains (markets) they have enabled over the Xbridge protocol, essentially acting as their own broker. They have no securities listed on their DEX *yet*, but would be exempted based on this, and the fact that their nodes only perform routing operations.

Plebs still use centralised exchanges that claim "decentralisation" though. That's why these takedowns keep happening, and why a Blocknet moon is guaranteed long-term.

It's actually humorous that this topic keeps coming up, because it shows how loosely the term has been applied thus far.