Could this new ruling from the US judge harm Bitshares?

[xeroc]

Essentially what Bitshares is doing is selling derivatives of different cryptocurrencies in their attempt to be a decentralized exchange. Would not this ruling legally harm the protocol and those working for it? Please discuss and alleviate my concerns.


http://www.seattletimes.com/business/markets/bitcoin-community-has-its-say-on-us-commodity-ruling/

There are no derivatives. It's only binary.

Financial derivatives are contracts, not binary, not algorithms. I don't see how courts have any sovereignty over the Bitshares source code as it's protected by free speech. If it did go to court then it would be worth taking it to the Supreme Court.

who would they sue? The software firm for coding software? The witnesses to support the network or the feed producers for their transparent feed algorithm?

Imho they could only sue customers and merchants for USING something that may be INTERPRETED as a derivative .. but then the contract partner is a software protocol ... law just has not idea how to handle that case (yet)

[luckybit]

Essentially what Bitshares is doing is selling derivatives of different cryptocurrencies in their attempt to be a decentralized exchange. Would not this ruling legally harm the protocol and those working for it? Please discuss and alleviate my concerns.


http://www.seattletimes.com/business/markets/bitcoin-community-has-its-say-on-us-commodity-ruling/

There are no derivatives. It's only binary.

Financial derivatives are contracts, not binary, not algorithms. I don't see how courts have any sovereignty over the Bitshares source code as it's protected by free speech. If it did go to court then it would be worth taking it to the Supreme Court.

[BunkerChainLabs-DataSecurityNode]

I wonder why it's more of a China thing...adoption numbers would say otherwise :/

http://qz.com/359679/80-of-bitcoin-is-exchanged-into-and-out-of-chinese-yuan/

"80% of bitcoin is exchanged for Chinese yuan"

[VoR0220]

I wonder why it's more of a China thing...adoption numbers would say otherwise :/

[BunkerChainLabs-DataSecurityNode]

I shared this a few weeks ago..

BitShares is a very different animal.. bitcoin is a one trick pony that is easy to peg in this way.

" That means the regulator can now bring charges against any wrongdoers trading cryptocurrency futures and options."

This is what they say is the implication.. which some would say is a good thing.

What was interesting to me when this was announced is that bitcoin price didn't even flinch. That might say something to this... or just emphasize the fact that bitcoin is small time in the USA.. and is actually more of a China thing.

[VoR0220]

Essentially what Bitshares is doing is selling derivatives of different cryptocurrencies in their attempt to be a decentralized exchange. Would not this ruling legally harm the protocol and those working for it? Please discuss and alleviate my concerns.


http://www.seattletimes.com/business/markets/bitcoin-community-has-its-say-on-us-commodity-ruling/