# \_tm3k for ZOMG(Withdrawn) **URL:** \ **Category:** ZCG Elections\ **Created:** [August 29, 2021, 2:55am UTC](https://forum.zcashcommunity.com/t/tm3k-for-zomg-withdrawn/39911 "2021-08-29T02:55:11Z")\ **Posts on this page:** 11\ **Page:** 2
**Author:** ![Rucknium](https://avatars.discourse-cdn.com/v4/letter/r/aeb1de/32.png) [@Rucknium](https://forum.zcashcommunity.com/u/Rucknium)\ **Post date:** [September 12, 2021, 5:50pm UTC](https://forum.zcashcommunity.com/t/tm3k-for-zomg-withdrawn/39911/22 "2021-09-12T17:50:56Z")
I suggest you familiarize yourself with the Howey test if you are not already familiar. [This speech by a U.S. Securities and Exchange official](https://www.sec.gov/news/speech/peirce-how-we-howey-050919) is a good start : > Now, for most people following the crypto space, Howey is an old frenemy. As you know, Howey provides the framework for determining whether certain assets are securities. Regardless of form, something is a security if it represents an investment in a common enterprise with the expectation of profit solely through the efforts of others. In practice, as interpreted by the courts and the Commission, profit need not be solely from the effort of others.[3] > > Undoubtedly, digital assets can be securities if they meet the Howey test. On this point, the SEC has been very clear. In 2017, before my arrival at the SEC, the Commission issued the DAO Report, which found that—despite some confounding factors—the tokens issued by the unincorporated organization known as the DAO were indeed securities under the Howey test.[4] In early 2018, SEC Chairman Jay Clayton testified during a Senate hearing “I believe every ICO I’ve seen is a security.”[5] Later that year, Director of Corporation Finance Bill Hinman gave a now well-known speech “When Howey Met Gary (Plastics),” in which he stated “calling the transaction an initial coin offering, or ‘ICO,’ or a sale of a ‘token,’ will not take it out of the purview of the U.S. securities laws.”[6] ---
**Author:** ![tm3k](https://sea2.discourse-cdn.com/zcash/user_avatar/forum.zcashcommunity.com/tm3k/32/16213_2.png) [@tm3k](https://forum.zcashcommunity.com/u/tm3k)\ **Post date:** [September 12, 2021, 5:53pm UTC](https://forum.zcashcommunity.com/t/tm3k-for-zomg-withdrawn/39911/23 "2021-09-12T17:53:23Z")
Adding utility to zec will bring more users organically , no need to go on a marketing campaign and stir up trouble What can I _DO_ with my coins? Right now they are just sitting in my hardware wallet. Do you see what im saying? ---
**Author:** ![Rucknium](https://avatars.discourse-cdn.com/v4/letter/r/aeb1de/32.png) [@Rucknium](https://forum.zcashcommunity.com/u/Rucknium)\ **Post date:** [September 12, 2021, 6:17pm UTC](https://forum.zcashcommunity.com/t/tm3k-for-zomg-withdrawn/39911/24 "2021-09-12T18:17:33Z")
> [@tm3k](#): > > What can I _DO_ with my coins? Right now they are just sitting in my hardware wallet. Do you see what im saying? You cannot spend them anywhere? Quite a few services accept ZEC as payment. ---
**Author:** ![tm3k](https://sea2.discourse-cdn.com/zcash/user_avatar/forum.zcashcommunity.com/tm3k/32/16213_2.png) [@tm3k](https://forum.zcashcommunity.com/u/tm3k)\ **Post date:** [September 12, 2021, 6:27pm UTC](https://forum.zcashcommunity.com/t/tm3k-for-zomg-withdrawn/39911/25 "2021-09-12T18:27:33Z")
Every crypto has the ability to be spent, that does not equal utility to me. Think about the broader crypto ecosystem. ---
**Author:** ![Rucknium](https://avatars.discourse-cdn.com/v4/letter/r/aeb1de/32.png) [@Rucknium](https://forum.zcashcommunity.com/u/Rucknium)\ **Post date:** [September 12, 2021, 6:36pm UTC](https://forum.zcashcommunity.com/t/tm3k-for-zomg-withdrawn/39911/26 "2021-09-12T18:36:50Z")
Private payments was Zcash’s purpose from the beginning. You seem to be in the wrong community. I agree that additional functionality would be nice and should be a goal, but to dismiss Zcash’s original purpose is a little mind-boggling. If you care about price of a privacy coin, well, Monero’s historical price performance\* has generally been better than Zcash’s, so maybe join r/MoneroTrader . Note that price discussion is discouraged on r/Monero , the main community forum. \* Past performance is not a guarantee of future performance. ---
**Author:** ![tm3k](https://sea2.discourse-cdn.com/zcash/user_avatar/forum.zcashcommunity.com/tm3k/32/16213_2.png) [@tm3k](https://forum.zcashcommunity.com/u/tm3k)\ **Post date:** [September 12, 2021, 6:39pm UTC](https://forum.zcashcommunity.com/t/tm3k-for-zomg-withdrawn/39911/27 "2021-09-12T18:39:39Z")
I’m ending this conversation with you because you’re gaslighting me. ---
**Author:** ![Rucknium](https://avatars.discourse-cdn.com/v4/letter/r/aeb1de/32.png) [@Rucknium](https://forum.zcashcommunity.com/u/Rucknium)\ **Post date:** [September 12, 2021, 6:42pm UTC](https://forum.zcashcommunity.com/t/tm3k-for-zomg-withdrawn/39911/28 "2021-09-12T18:42:39Z")
A little pushback and you fall apart? The Zcash community is is bigger trouble than I thought. I mean, I want Zcash to succeed, but I am worried. Given some of the other top-level posts on the forum, it seems I am not alone. ---
**Author:** ![tm3k](https://sea2.discourse-cdn.com/zcash/user_avatar/forum.zcashcommunity.com/tm3k/32/16213_2.png) [@tm3k](https://forum.zcashcommunity.com/u/tm3k)\ **Post date:** [September 12, 2021, 6:48pm UTC](https://forum.zcashcommunity.com/t/tm3k-for-zomg-withdrawn/39911/29 "2021-09-12T18:48:31Z")
> [@Rucknium](#): > > but to dismiss Zcash’s original purpose is a little mind-boggling. never, have a good day ---
**Author:** ![joris](https://sea2.discourse-cdn.com/zcash/user_avatar/forum.zcashcommunity.com/joris/32/4592_2.png) [@joris](https://forum.zcashcommunity.com/u/joris)\ **Post date:** [September 12, 2021, 6:55pm UTC](https://forum.zcashcommunity.com/t/tm3k-for-zomg-withdrawn/39911/30 "2021-09-12T18:55:01Z")
> [@stickyplot](#): > > Listen. I’m new here. I stopped listening here. Educate yourself before bragging please. ---
**Author:** ![Zzzzzz](https://sea2.discourse-cdn.com/zcash/user_avatar/forum.zcashcommunity.com/zzzzzz/32/20679_2.png) [@Zzzzzz](https://forum.zcashcommunity.com/u/Zzzzzz)\ **Post date:** [September 12, 2021, 10:15pm UTC](https://forum.zcashcommunity.com/t/tm3k-for-zomg-withdrawn/39911/31 "2021-09-12T22:15:20Z")
I agree, private payments was Zcash original use case. When users can easily store and use shielded ZEC on hardware wallets then this use case will be fulfilled. In saying that it’s clear that Zcash will be much bigger than private payments, understandably this will take time though. ---
**Author:** ![Shawn](https://sea2.discourse-cdn.com/zcash/user_avatar/forum.zcashcommunity.com/shawn/32/187_2.png) [@Shawn](https://forum.zcashcommunity.com/u/Shawn)\ **Post date:** [November 4, 2021, 11:45pm UTC](https://forum.zcashcommunity.com/t/tm3k-for-zomg-withdrawn/39911/32 "2021-11-04T23:45:43Z")
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