tl;dr → DAO et al. broke the law by offering shares to the public without complying with applicable securities laws, but the SEC won’t prosecute them under their authority to defend the law that they are declared to have broken.
34-81207; a ruling; Securities and Exchange Commission (SEC); 2017-07-25.
re-capitalized with $150 million funny munny.
<quote>In short, the DAO fit the conventional definition of an investment security.<quote>
<quote>If coin owners are promised voting rights in an organization or the right to a share of profits, that’s likely to be a security.
By contrast, if users mostly buy tokens for a utilitarian purpose—for example, to buy network storage—it’s less likely to be a security. </quote>
<quote>The SEC reasoned that if something looks like a duck and quacks like a duck, the law should treat it like a duck.</quote>
ICO → Initial Coin Offering
expert, Berkman Klein Center, Harvard University.
ex-general counsel and (ex-)executive director, Bitcoin Foundation, 2012→2015.
iRobot has independent use rights to the data produced by you.
Colin Angle, CEO, iRobot.
<quote>[We may share your personal information with] other parties in connection with any company transaction, such as a merger, sale of all or a portion of company assets or shares, reorganization, financing, change of control or acquisition of all or a portion of our business by another company or third party or in the event of bankruptcy or related or similar proceeding.</quote>
A beginner’s guide to Ethereum; Some Body; In Some Blog; WHEN?
tl;dr → Describes a newer blockchain with applications outside of digital currency, including automatically executed contracts, identity management, computer usage sharing, DRM, and more.
Some Body; How smart contracts work; In Some Blog hosted on Medium; WHEN?
tl;dr → Compares cryptocurrency to a digital vending machine, where the “rules” of a transaction are built into the machine itself. Claimed uses beyond currency.
How people steal Bitcoin; Some Cub Reporter; In The Verge; 2013-12-19.
tl;dr → Hackers have stolen millions of dollars’ worth of Bitcoin from the irrevocable ledger. An obligation which was then repudiated. Oopsies.