The important thing which people often don't understand about BTC and other cryptos with a same model (not tokens),
is that it's not only about technology. If you think that BTC is just a technology, you are wrong.
Governments can create their centralised coins or use the blockchain technology in another way,
but BTC and other decentralised coins are different story.
For example, governments can sponsor good scientific projects, and it's great,
but Wikipedia is edited by average people.
There are 2 different things. Crypto, backed by governments, and crypto, backed by people. They can co-exist.
Let people try to create their own (independent from governments) financial project. Don't bash it.
Think of it in terms of Wikipedia, everyone can edit it, but it doesn't mean that it consists of garbage.
It has mechanisms of self-regulation. And it creates a service, which you use on a daily basis.
True cryptos (mineable, not tokens) have some mechanisms for self-regulation, too.
Real problems are volatility and ICO tokens schemes for making a quick buck, probably main exchanges should be forced to limit price movements (like at stock exchanges).
I really like this message! One slight possible clarification is that POW or POS matters not with regards classifications as "tokens".
Obviously the 1934 security law is overly broad so as to encompass anything deemed competition to the newly softened 1933 (new deal) US dollar. This 1934 law seeks to encumber anything under the sun with a 10% tax* in order to give at least that much advantage to the dollar. I am sure if Bitcoin was launched today the sec would say it was a security.
best practices were employed for sending encrypted messages for bitcoin at the time so POW was used. Someday perhaps bitcoin may need to switch to POS for network security reasons. This will not make it any less bitcoin. The concept of POW predates 2008 & bitcoin.
History: 1996 NSA had everything except could not figure out the replay attack prevention.. LOL
http://groups.csail.mit.edu/mac/classes/6.805/articles/money/nsamint/nsamint.htme-gold, etc.
[Turns out not all programmers & gov employees/ contractors obsess over economies, statistics, ergonomics, balanced voluntary transactions, quality of money, jurisdiction, private property rights, law, etc, etc. etc who knew? LOL!]
2008: 12 years later still no fix for the replay attack!!! Meanwhile bankers are getting rewarded for defaulting on 100% of stelionated "loans" that lacked consideration from both sides in the first place (these are fraudulent loans btw and they should have defaulted for several reasons not bailed out). LOL Finally, in 2008 a time stamped ping that broadcasts previous transaction information using a p2p decentralized node net every ten minutes that checked itself for consensus was proposed and in fact is plenty for the end users to have as a validation layer and it protects against the replay attack and therefore constitutes something that would make life easier as for the people of earth. Enter bitcoin!
it makes me sick as an unbanked to hear people in crypto cry about price!!! Shame!!! The unbanked who is cut from society cares not the price of a bitcoin only that now he or she can participate in the world economy like never before instead of just lie or die. And even nations that are hostile to the best interests of the individual can be checked as this powers in the hands of the people against them flourishes. Just like the rain bitcoin can be touched by rich and poor alike!