Mining Under PoW: Not Securities?

SEC's recent statement says that mining activities under PoW don't count as securities. Interesting take for sure.

I totally agree. PoW coins like Bitcoin are commodities, while PoS like Ethereum are basically securities. It's common sense.

Did they really have to say mining is about solving complex math problems? It's more like high-speed dice rolling, not rocket science.

Yeah, exactly. It's just a bunch of random guesses, not solving equations. But SEC is worried about mining companies issuing tokens.

Kinda feels like some things should have been obvious. Bitcoin being a commodity is one of them, but now it’s finally getting legit recognition.

Enshrined in law? Not quite sure about that, but I think this ruling is a step forward.

I can confirm that SEC sees Bitcoin as a commodity. Same goes for Ethereum. So yeah, they acknowledge it.

Just a quick question here. Did miners really need to report to SEC? Seems like a stretch to me.

I think the SEC's definition of mining is kinda off. It's not really complex equations we're dealing with.

You know, they keep saying it's solving equations, but it's just brute force guessing. Nothing more.

Tax laws apply to mining income in the US. Miners don’t file returns with SEC. This clarification seems to benefit businesses using Bitcoin.

It's all about perspective. Early miners weren’t in it for profit, but now it's all about making money, which changes the game completely.