Many people complain about Saylor and tell others to take his dick out of their mouths, but he's the only inflooencer with giant reach that criticises shitcoins in the context of them being securities by highlighting that they're unethical.
What do I mean by this? I often see people use "security" as an arguement against shitcoins, but this is just using the master's rules to support your chosen investment.
The reason why shitcoins a shit is because they are unethical. The securities law (Howey test) is an attempt by the state to protect people from unethical behaviour. Yes I accept that that sounds a bit like double standards because the state itself is unethical...
THAT is why I commend sailor for focusing on the unethical nature of shitcoins and using "security" to summarise what it is and why it's wrong.
If you just say it's a security and leave it at that, then it's the same arguement as "Oh, the government will just ban Bitcoin."
