Technology

37735 readers

45 users here now

A nice place to discuss rumors, happenings, innovations, and challenges in the technology sphere. We also welcome discussions on the intersections of technology and society. If it’s technological news or discussion of technology, it probably belongs here.

Remember the overriding ethos on Beehaw: Be(e) Nice. Each user you encounter here is a person, and should be treated with kindness (even if they’re wrong, or use a Linux distro you don’t like). Personal attacks will not be tolerated.

Subcommunities on Beehaw:

This community's icon was made by Aaron Schneider, under the CC-BY-NC-SA 4.0 license.

founded 2 years ago

MODERATORS

TheRtRevKaiser@kbin.social

Hours after Ethereum transition to proof-of-stake, SEC Chair says PoS crypto could be classed as securities (web3isgoinggreat.com)

submitted 2 years ago by rysiek@szmer.info to c/technology

10 comments fedilink hide all child comments

In the early hours of September 15, Ethereum completed "The Merge – the long-awaited transition from its original proof-of-work consensus mechanism to proof-of-stake.

Later that day, SEC Chairman Gary Gensler pointed to the staking mechanism as a signal that an asset might be a security as determined by the Howey test.

🍿

you are viewing a single comment's thread
view the rest of the comments

[–] hamborgr@feddit.de 3 points 2 years ago (1 children)

Crypto makes financial surveillance close to impossible

Isn't it exactly the opposite, especially with crypto like Bitcoin?

[–] vord 4 points 2 years ago

Fundementally, yea. Cryptocurrency is really just a public ledger. With enough time and computing power, you can trace every transaction ever made. If you identify a wallet's owner, you can watch everything they do.

Cryptocurrency is not cash in an envelope.