eevBLAB 116 - The SEC Killed LBRY Inc. What happens to Odysee?

[TimFox]

Summary of the court results:
https://www.sec.gov/litigation/litreleases/lr-25775
More recent results of the actions (Oct 23, 2023):
https://news.bloomberglaw.com/litigation/lbry-winding-down-drops-appeal-of-crypto-ruling-favoring-sec
From that bloomberg report, a quotation from lbry:
"Odysee and other assets will undergo a legal process to satisfy debts, but Odysee has a bright future ahead."

[EEVblog]

The SEC commisioner says the agency has not been very good when it comes to Bitcoin and crypto. 

https://twitter.com/WatcherGuru/status/1716507113072066666

[abeyer]

Yeah, it's not the greatest interview, but Peirce's ideas are worth listening to... the whole thing is here:

[wilfred]

Yeah, it's not the greatest interview, but Peirce's ideas are worth listening to... the whole thing is here:

It wasn't a bad interview. I thought the last few seconds from about 7:50 was particularly pertinent.

With respect to LBRY, and I'm not a scholar on it, I was always suspicious of so many tokens (or whaterever they're called) being held in reserve by the originators. There always seemed to me to be two different purposes for them and I suspected the originators were seeking to speculate on getting wealthy on their stash at some point.

[EEVblog]

With respect to LBRY, and I'm not a scholar on it, I was always suspicious of so many tokens (or whaterever they're called) being held in reserve by the originators. There always seemed to me to be two different purposes for them and I suspected the originators were seeking to speculate on getting wealthy on their stash at some point.

LBRY was always fully open and transparent on all their finances and how LBC tokens were allocated. It was part of the open source philosophy.

[nctnico]

There is a difference between making a promise and being bound to a contract. If the idea was to not make a profit from the pre-mined tokens and / or use these for a specific purpose, why wheren't these tokens parked in a non-profit organisation?

Say the value of the tokens would be several million US dollars. If these tokens are owned by an ltd, then what stops the share holders of that ltd to cash out the tokens and pay a nice dividend to themselves?