Mar. 5, 2024
I hope this letter finds you well. Ethereum started as a premine, an unregistered security by definition, that relied on the Ethereum foundations efforts. It’s clear from Vitaliks words (see attached quick video). Proof of stake is just another mechanism for more increased centralization and control over the network by the biggest stakers. VC interests are coordinating a lot of this market manipulation in cryptocurrency. There are only two clear commodities, as defined under US law. Bitcoin and Litecoin. There needs to be a clear designation for most others being unregistered securities. Thanks for your time. Anonymous