Pointless CRYPTO RATINGS ??

by birtanpublished on August 25, 2020

On a scale of 1 to people flipping their shit there is absolutely nothing that makes people flip their shit more than trying to rate cryptocurrencies especially when it comes to a legal framework right what's going on everybody it is your boy crypto Bobby I

Hope you are having a great day great night wherever you are watching or listening in from and today we have a special treat that was bestowed upon us by the powers that be and by the powers that be I mean the cryptocurrency

Exchanges of the world and yes we have a doozy today let's pop into it so as any red-blooded American there's nothing I like more than kicking my Monday morning off with a brand new system for ratings of crypto currencies in regards to the

Likelihood as to whether or not they are securities with very ambiguous ratings and if you are just like me that red-blooded American well I have news for you today and I'll put a link below in the

YouTube podcast description but today the folks over at a number of cryptocurrency exchanges and prominent US projects companies in the crypto space including coinbase kraken circle which is the owner of pelone e^x which

Is leaving the US anyway basically bitch tracks and then you also have dr w which is cumberland trading unit Genesis global grayscale and Anchorage they came together to form the aptly named crypto ratings Council and what is the crypto

Ratings council doing they're publishing an online ratings of whether or not they believe a token or a cryptocurrency is a security in the United States with a 1 to 5 ranking so to actually properly evaluate whether or not something is the

Security I do want to inform you that I did take one pre-law class my freshman year of college which is like I don't know 10 11 years ago something like that so I did take one pre-law class my freshman year of college so I am highly

Qualified and credentialed to provide a lot of high-level insight as to this security score in but this rankings came out these rankings came out and people went absolutely apeshit on Twitter in the

Three hours on Monday morning because we didn't need anything else on Monday morning to start off the week hot so when you look at it one is the best score you do not want to be a security for the most part at least for a

Cryptocurrency when these were all offered as non securities or started as not security so number one you do not want to be a security number five oh shit this thing is probably a security and the interesting part about this is

These are listed on a number of exchanges including the people that are ranking this as non securities so who the hell knows what's going on here but the four that were listed as not a security where Bitcoin died which is a

Stable coin litecoin and Manero and then the next level up as far as goodness of this probably isn't a security you have Algar and which what chain link okay aetherium new mirai and zee cash and you work your way up and you work your way

Up and the two to three worst ones according to the security score most likely to be a security you have maker and polymath the MKR token and the polymath poly token and then you have everyone's favorite it's never been a

Security everyone's favorite XRP at a pretty high level these ratings really to be honest leave a lot to be desired if you're gonna come out with this grand crypto high castle of ratings bestowing whether or not something may or may not

Be a security number one maybe be a little bit more definitive like a one through five hey maybe there's security maybe it isn't we don't know but hey here's here's a few things not incredibly helpful in general also the

The reasons as to why they are good or bad are pretty high level as well like there's there's not a lot of there's not a lot of meat to this information if you're looking at whether why something is in security right now when you look

At this if you look at Bitcoin or some of these other crypto assets for Bitcoin specifically they say there's a decentralized essentialized development and usage yes that's true the anonymity of the project team

Shocker they don't believe it's Craig right they believe the the project team is mostly anonymous the absence of a token sale the fact that this was Bitcoin wasn't an IC o—- helpful to not be a security on the other end of

The spectrum if you're looking at something like maker which is one of the worst ranked ones even though it as a by many people a high degree of respect you look at why they consider a maker to be quote unquote bad or more of a security

There's burning features which makes it potentially security if you're actually burning the assets they also say there is usage of security like language but when we're thinking about that what is security like language and can we delve

A little bit deeper on what that actually means that's not incredibly helpful and then they also say marketing of the tokens to journey suggesting an opportunity to earn profits so you know there's not a ton of a really solid meet

With this you'd like to see them expand specifically beyond a three sentence a bullet point to why or why something may or may not be a security as according to for the most part the people that are actually offering these crypto

Currencies to trade and again I joked before at the beginning of the video that obviously I am NOT a securities lawyer I have some friends in the legal space that had a lot of conversations with them about this and have tried to

Learn as much as humanly possible about securities law when it does come down to the cryptocurrency world what we're looking at with these ratings in general and whether or not something is the security really all you need to know I

Think at a at a very very high level that is if these are if any of these assets are indeed securities the way or if they will ever trade it all again if they are deemed to be securities will trade vastly different if something is

This security it cannot be traded on a coin base or a bit racks or a circle or cracking right now they're just for the most part they're not equipped regulatory wise to trade those assets so if any of these assets are deemed to be

A security by regulator the world will look very different so if you're looking at something if you're trying to take anything away from this anything that you want to be quote-unquote holding or trading or

Holding onto you do not want that to be a security in the sense of a crypto currency because if it is a security if it's deemed a security by the SEC or by some other regulator then you are going to probably see that lose its liquidity

Because there are not many venues if many venues at all that are trading security is the security token world the security token industry is still extremely nascent there are maybe two or three platforms that you can actually

Trade real actual security tokens on in the US and the liquidity on those exchanges is beyond poor so when you're just taking everything away from this when you look at your cryptocurrency when you look at your crypto holdings

And you're thinking about what does this mean number one cross your fingers put your put your hands over your ears and hope that your crypto asset is in the security whether or not one is a security I mean the safest thing

Honestly like if I'm looking at at this in general and I'm looking about the the ratings the only thing to me that has been that has come out so far and is basically said this is not a security is Bitcoin there has been some some kind of

Statements in the past about aetherium but I don't think it's really been incredibly official or super official so maybe there's still a little bit of leeway there's still a bit a little bit of room there

Due to the token sale and the initial way in which aetherium was offered but bitcoin is the one place that you know the one cryptocurrency that is now damn well not a security and everything else is very much up in the air up for grabs

And anybody with a legal background can argue that now again because of crypto Twitter being crypto Twitter everybody that took one semester of pre-law in college all the sudden thinks that they understand the you know the Howey test

In full and every single element of what is or isn't a security due to how things were issued and they're going to go ahead and rate and rank and talk about all these assets I'm not going to do that because

I am NOT a damn lawyer and neither is the person probably talking about it on Twitter although there are definitely a few crypto Twitter actual lawyers out there which are always good to hear their opinion and see what they're

Saying on this type of matter I would love your thoughts if you're listening on YouTube right now I love your thoughts in the comments do you think this makes a difference what do you think about any of these crypto ratings

At all if you're on the podcast always hit me up at crypto under score Bobby thank you so much for your time if you enjoyed this video make sure to slam that thumbs up button hit that like button and subscribe thank you so much

Your time crypto Bobby signing out I hope you have a go in peace

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