Time to stand up against the SEC.
Apparently the Securities and Exchange Commission is trying to make crypto illegal to freely transact and exchange. Looks like the US government is looking for any amount of legal precedent, probably in an attempt to set the foundations for a potential attack on even more projects in the future. The blockchain technology has the power to provide us with the tools necessary to fight corruption and intransparency, and the SEC clearly doesn't like that.
The SEC is advancing an aggressive and disastrous new standard that would make almost all blockchain tokens securities.
Source: helplbrysavecrypto.com
They are basically trying to set a new standard, under which almost any token is a security. This could prove to be a nightmare for United States residents and cryptocurrency-oriented businesses operating in the US, causing massive job loss and serving as an obstacle to the further development of the revolutionary technology behind the crypto industry. As a result, the entire blockchain space is at risk.
LBRY is a transparent, decentralized ledger used by tens of millions of people. We are talking about a content sharing and publishing platform that is owned by its users, so my guess is that it's actually freedom of speech they are after. The platform rewards users in LBRY Credits (LBC) for sharing and consuming content, and offers tons of valuable information shared by awesome content creators from all over the world, so it's definitely worth a visit once a day in my opinion.
I have been consuming content on LBRY for quite some time now, and my LBRY earnings are looking healthier than ever. However, this post is not just about the free LBRY Credits (LBC) handed out by the platform, or having another means of generating crypto income from the comfort of your home. Free money is good and free crypto is much better, but this time around it's more about freedom. Crypto is not a crime, and we all have a moral obligation to speak up and let the Securities and Exchange Commission know that enough is enough.
That's why we need to sign this petition.
It literally takes just a few minutes to support this cause, and we can do so by signing the petition and spreading the word about it on social media, so as to convince even more people to join the movement. Some would argue that the petition itself doesn't actually achieve anything aside from raising awareness. However, raising awareness can be very useful in itself, and certainly is a first step in the right direction. Today it's LBRY, tomorrow it may be your favourite crypto project, so we must act now.
Now, I do realize that online petitions aren't necessarily going to be very effective, but I believe it's worth the effort considering that it only takes an email account and less than five minutes of your time to show your support. It's not just about LBRY; it's an all-out attack on the fundamentals of crypto and blockchain, and a clear attempt to lay the groundwork for future attacks on more blockchain-based projects.
You can watch this video for more details.
The blockchain technology has the potential to completely transform the world, offering the tools needed to build credible, decentralized, completely transparent transaction systems, and thus, enabling humanity to overcome the obstacles that have been stalling our development for decades. It's already starting to cause a shift in power from centralized authorities back to the ordinary man, and the powers that be do not appreciate that.
My guess is that the case with LBRY is just the beginning, that's why I believe it is important to show our support by signing the petition and taking things on Twitter and Facebook in order to convince others to join as well. The crypto community must act as one; it's not just about one of the many blockchain-based projects out there. It's more about crypto in general, and the SEC is crossing a line here.
The people in charge already know that crypto is here to stay and reshape the way we perform transactions on a global scale, and they also realize that there's nothing they can do to prevent that. Therefore, they are trying their best to gain complete control of the game before it's too late for them, but it's up to us to say a big NO and ruin their plans.
Let's go for it.
Thank you for your attention.
Alright guys, that's it for now. Thank you for taking the time to read those lines.
Just my two cents. This is by no means financial advice. Just sharing my personal views and experiences. Please do not take my word for your investment choices, and always do your own research.
Stay safe and have a good one,
@lordneroo
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I believe LBRY and Ripple are largely fighting the same battle, as far as I can understand from lawyers like Jesse Hynes and Jeremy Hogan.
I also believe the SEC is relatively poorly equipped to win this cases. What we can do as token holders primarily is to clearly voice that the SEC is hurting us, and not helping us in any way, by labelling these tokens as securities.
Why do I think this is important? Because the SEC's very existence is based on protecting the consumers. If evidence strongly points in the opposite direction, then in my humble opinion it will probably mean that (a) the SEC is more likely to lose and (b) the regulations are more likely to be modified even if the SEC wins.
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I'm not that optimistic about it, but I hope you're right.
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All my support for LBRY, I have used it from the beginning. Cryptocurrencies were created to fight abuse, to preserve privacy, and to resist censorship among other things. Our work as users must be that.
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On LBRY you can find a lot of the information YouTube deleted for political reasons. They just don't like popular, censorship-resistant networks.
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They must be pissed because LBRY is actually giving a great competition to YouTube. There are many content creators who are actively promoting https://odysee.com
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Yup they are pissed cause they hate freedom of speech. But they can't stop the crypto movement ;)
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Wishing LBRY all the best in their battle against the SEC. I will sign the petition and share with as many people as possible.
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That is awesome, thank you for signing! :)
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I would like to thank the author.
The SEC should make decisions based on the law and the opinion of the majority.
The common man's feelings and emotions are accurately expressed in this article
The gap between rich and poor is widening. The working class does not receive full compensation. A few have become the masters of most of the world's wealth.
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I completely agree with you. Thanks for taking the time to read and leave a thoughtful, kind response. Much appreciated :)
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Google in action ... I no longer consider the SEC a serious institution since they started attacking LBRY ..
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Fair enough, it's now more than obvious that they are the puppets of Big Tech and Wall St.
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Goodness... the SEC needs to hire people who know what crypto is if they're to be taken seriously. These guys are still stuck in the 90s.
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I'm guessing they know very well what they are doing. They are just trying to lay the groundwork for future attacks on more blockchain-based projects.
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There's too much doom and gloom in this post. Jeremy Kauffman and his team will have to deal with this, all top Coins will be looked at by the SEC, since Crypto goes more and more mainstream. I see a strong argument for abundance rising. At least it will be good publicity for LBRY, that's nice to see.
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Doom and gloom? More like a call for action. It's more than obvious that they are trying to set the foundations for more attacks on crypto projects.
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They do and they should, because it's their job. As soon as the check is done, that opens up doors for the Coins, it's all about the way it's done. We're talking about the wild wild west here, it will take decades for them to understand what's going on anyway.
Can there be made an argument for the restriction/pull-back of the SEC from duties towards the Crypto Space? I guess there's the real question and the answer is obviously Y-E-S.
cheers !BEER by the way, it's a Saturday :9
SourceTo me it sounds like they understand very well what they are doing, just being dirty. But I get what you're saying ;)
Thanks for the beer!
Cheers!
!LUV 1
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LUV command accepted!
Hi @manniman, you were just shared some LUV :) Having at least 5 LUV in your wallet enables you to give up to 3 LUV per day, for free. See the LUV tokens in your wallet at https://hive-engine.com or learn about LUV at https://peakd.com/@luvshares https://ipfs.io/ipfs/QmUptF5k64xBvsQ9B6MjZo1dc2JwvXTWjWJAnyMCtWZxqM
Sorry, out of BEER, please retry later...
There's a funny response from SEC when LBRY ask them how to conduct business legally. They said they can't say how to conduct business legally, they can only say if LBRY is acting illegally. SEC does not want to help business, it only want to penalize them.
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That's correct, they are the puppets of Big Tech and Wall St. trying to crush any competition.
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They must be so scared from it lol, now that we know that the Government is scared they must be hiding something, as always.
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They hate freedom of speech. LBRY is a pain for them. And of course, they are trying to set the norm for more attacks on crypto projects.
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I wrote about this last week. Bittrex is removing LBC on April 16 so if you have any over there it is time to convert. I sold for eth. I think LBRY will ultimately be fine but this trend is certainly alarming.
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I'm thinking I should just withdraw mine and hold them, I believe this whole thing may cause crypto people to support LBC. But that's just a wild assumption.
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