Flirt, great write up. Definitely spurred me to look into STX deeper. A couple of questions.
1) Is STX still qualified as a security by the SEC (instead of a currency)? I believe it was expected by muneeb to be overturned, but not sure if the SEC ever openly declared it.
2) Is the reason STX was originally qualified a security still an issue? Centralization and possibly a small number of people holding a large % of STX's circulating supply. Or did Stacks 2.0 fix these issues?
I also believe that the recent listing to coinbase is further proof that they did suceed in removing STX's status as a security because Coinbase since they had their IPO has to be very risk-averse about any new listings that could potentially be qualified as a security so that they can avoid being regulated as a Securities Exchange.
However, I haven't found any definitive proof yet, so take these as potential evidence and continue to look for confirmation if this is something you are interested in knowing.
2. STX 2.0 was supposed to represent a move towards further decentralization where STX could function on its own without the Hiro team and company entirely. While the blockchain itself functions independently of the Hiro team, I do not know if the Hiro team or management owns a significant amount of STX or not. I puttered around the web for a bit to see if I could find a "rich-list" or similar for STX holdings but was unable to do so.
STX originally qualified themselves as a security so that they could perform an ICO without having to wonder about future regulatory issues coming down on them as happened with XRP. I think that probably was not necessary for the team at Hiro, as the major issue with XRP is that all transactions and validations on their chain is done only on Ripple servers, so it makes it near impossible for them to prove decentralization unless they give up this form of validation which would require a major change to the architecture of XRP. STX transaction validations are done on the BTC network and so are fairly decentralized.
Thank you for the reply. Definitely a good point with the coinbase listing, seeing as XRP was delisted for that reason. That puts to bed most of my concern and the rest of my research points to it being a solid project. Looking forward to seeing where this goes.
Thanks for writing this review, I learned a lot reading it. Especially the part about shills in crypto (I had no idea how much this proliferated) and the frog rating. Excited to see what the future holds for STX.
Thanks for the comment. I myself have also been significantly surprised by just how many people in crypto are purely making paid content with little if any genuine content. I have also been surprised with just how cheap it is (from an enterprise standpoint), while being lucrative from the individuals standpoint. It makes it incredibly hard to trust just about anyone with a real face.
Nice im in. If it goes down at all at any point even a little thenfuck you
This is Financial Advice and I accept full liability for it. I am an internet frog and as such should be considered a credible financial authority :D
Flirt, great write up. Definitely spurred me to look into STX deeper. A couple of questions.
1) Is STX still qualified as a security by the SEC (instead of a currency)? I believe it was expected by muneeb to be overturned, but not sure if the SEC ever openly declared it.
2) Is the reason STX was originally qualified a security still an issue? Centralization and possibly a small number of people holding a large % of STX's circulating supply. Or did Stacks 2.0 fix these issues?
TIA
1. I believe they suceeded in such as they stated as I was unable to find an SEC filing on behalf of STX newer than the one for fiscal 2020. https://www.sec.gov/Archives/edgar/data/1137789/000113778920000057/stx-20200703.htm
I also believe that the recent listing to coinbase is further proof that they did suceed in removing STX's status as a security because Coinbase since they had their IPO has to be very risk-averse about any new listings that could potentially be qualified as a security so that they can avoid being regulated as a Securities Exchange.
However, I haven't found any definitive proof yet, so take these as potential evidence and continue to look for confirmation if this is something you are interested in knowing.
2. STX 2.0 was supposed to represent a move towards further decentralization where STX could function on its own without the Hiro team and company entirely. While the blockchain itself functions independently of the Hiro team, I do not know if the Hiro team or management owns a significant amount of STX or not. I puttered around the web for a bit to see if I could find a "rich-list" or similar for STX holdings but was unable to do so.
STX originally qualified themselves as a security so that they could perform an ICO without having to wonder about future regulatory issues coming down on them as happened with XRP. I think that probably was not necessary for the team at Hiro, as the major issue with XRP is that all transactions and validations on their chain is done only on Ripple servers, so it makes it near impossible for them to prove decentralization unless they give up this form of validation which would require a major change to the architecture of XRP. STX transaction validations are done on the BTC network and so are fairly decentralized.
Thank you for the reply. Definitely a good point with the coinbase listing, seeing as XRP was delisted for that reason. That puts to bed most of my concern and the rest of my research points to it being a solid project. Looking forward to seeing where this goes.
Thanks for writing this review, I learned a lot reading it. Especially the part about shills in crypto (I had no idea how much this proliferated) and the frog rating. Excited to see what the future holds for STX.
Thanks for the comment. I myself have also been significantly surprised by just how many people in crypto are purely making paid content with little if any genuine content. I have also been surprised with just how cheap it is (from an enterprise standpoint), while being lucrative from the individuals standpoint. It makes it incredibly hard to trust just about anyone with a real face.
Good call on STX, I’m up 24%