Hey All,
Its a great news to hear from @lbry post on their twitter handle where,
LBRY team stated it had filed a notice of appeal to the United States Court of Appeals for the First Circuit.
LBRY is seeking to appeal the final judgment that was entered on the 11th of July.
Where the federal judge sided with the United States Securities and Exchange Commission and ordered LBRY to pay a civil penalty. And also at the same time had barred the payment network from participating in future unregistered crypto asset securities offerings. In a nutshell LBRY Inc had lost their case with SEC and their token #LBC was termed as crypto security offering.
Loosing the case was a big drawback for #LBRY as they had been fighting with SEC for years now providing them with all the details and explaining their case in a much transparent manner as possible. But what happened was really SAD to see a great platform like #lbry losing their case with United States Securities and Exchange Commission. Precisely LBRY lost the case against SEC [Securities and Exchange Commission] the court rules that LBRY, Inc. violated Section 5 of the Securities Act of 1933. The LBRY team posted some of the stats on their twitter handle regarding what LBRY network has in total::
The LBRY network has:
- 30,000,000 pieces of content
- 1,700,000 on-chain identities
- Famous content creators
- Apps used by millions each month
- Quality, open-source code And much more
Incase if you are not aware about the platform LBRY, then let me just brief you about the platform. #LBRY is a protocol and its not a easy job to build a protocol. Consider how we access the internet via "https" which is also a protocol. Similarly LBRY was the first and foremost a new protocol that allows anyone to build apps that interact with digital content on the LBRY network and Odysse App is one which is built on the LBRY protocol.
I have been leveraging the LBRY platform Odysee for quite sometime now. As you can see from the above image I still HODL around 168K+ #LBC tokens and with all the news and FUD of LBRY loosing their case with SEC I still didn't sell of the token. In brief LBRY basically is a Video sharing decentralized platform built using the LBRY protocol, which is ultimately and alternative to YouTube. Apart from video you can also post articles, pictures and what not. The platform currency is $LBC aka as LBRY Credits. With all this fud with #SEC, the $LBC token had taken a real beating not only related to price but delisting of the token from various exchanges as well and currently is being traded for a cent and even lesser.
Considering this news of #LBRY Fights Back files notice of appeal against SEC, I thought the token price would be in green but looks like we are yet to see the momentum building up for #LBC token. Its really a good opportunity to invest some money in this token at this price for sure. Will this fight back from #LBRY with #SEC save a blockchain that is dedicated to building great protocols and giving us back that freedom of speech along with promoting decentralization survive or not.. time is gonna tell.. But I truly wish that #LBRY succeed in their fight with #SEC.. you cannot prevent a technology that is doing good just stop like that... way to go #LBRY... HODL onto your #LBC tokens guys.. don't sell them... cheers
LBRY Credits (LBC): Fights Back files notice of appeal against SEC...
#lbc #odysee #hodl #sec #lbry #protocol #content #video #credits
Have Your Say LBRY - LBC token...
Do you still HODL LBC token? Selling Vs HOLD LBC? What are your thoughts on LBRY filing a Notice of Appeal against the SEC? Do think we could see a come back for LBC? Please let me know in the comment section below...
Image Courtesy:: lbry,odysee, twitter, thecoinrepublic
Best Regards
PS:- None of the above is a FINANCIAL Advice. Please DYOR; Do your own research. I've an interest in BlockChain & Cryptos and have been investing in many emerging projects..cheers