I think you are really confusing concepts here Obsidian. (Can I suggest maybe watching a few less youtube videos, and actually doing some legal research).
The term "securities" as it applies to the law the SEC enforces, has nothing to do with IT security. Rather is has to do with laws that govern fungible and publicly tradable financial instruments.
You are also misunderstanding what the role of the SEC is. It is not "to protect investors". Indeed, investors can, and do, make bad investments every day with SEC compliant securities. The SEC makes no decision on the merit of any investment. More accurate would be to say that the SEC's role is to regulate securities markets, as it is required by law to do, (and that this in turn, hopefully, will "protect" investors, to the extent that certain the many aspects of securities' laws need to be complied with). So, the SEC could not care less if BTC goes up or down. But it cares deeply, if you were to attempt to list any security in an unregulated matter (as occurred with almost all crypto tokens). Its not a matter of whether you like the law or not - the law is the law and the SEC enforces.
So, you don't need to make any argument against me. I am just telling you what the law is.
As for BTC being "pre-mined", it wasn't. All of us, Satoshi included, had to put in equal work to mine Sats. That was the case from day #1 of the code going public. And that differs from ETH any many others, whereby the creators of what was essentially a tech company, raised funds for their "projects" (businesses), by issuing tradable "tokens" (shares) and retaining a share of these shares for themselves, selling on the market for for BTC or fait over time.
With BTC, the work is done by the miners. They have converted energy into Sats. And those Sats can the be bought and traded by others. And this was the case from day #1. No security here - rather a digital commodity.
As for your comments about staking and deflationary etc, all this is a scam. If I sell you a piece of shit, and then tell you its "good value" because in a few days I will give you a brand new more of a turd for free, that does not change the fact that the underlying thing you have is a piece of shit. Similarly, if I told you that that piece of shit was going to gradually decompose, and become a small piece of shit over time... it doesn't matter - its still a piece of shit! Its really a very obvious marketing illusion.
Eth, can and will, be replaced any an infinite number of "alts" to Eth. However, there is not any "alt" to BTC - there can't be, as BTC cannot be recreated, nor can it be uncreated. It takes a while for people to truly understand, but eventually they do...
One of the SEC's main focus is investor protection:
The SEC has a three-part mission: to protect investors; maintain fair, orderly, and efficient markets; and facilitate capital formation.[8]
https://en.wikipedia.org/wiki/U.S._Securities_and_Exchange_CommissionBut it is corrupt as are many government departments. Gensler met with fellow tribesman SBF many times. And did nothing to prevent that scam which ended up hurting investors. Which is why a few politicians want him axed.
Satoshi was the first guy to mine BTC quickly, over 1 million.
If there were many other miners it would not have been possible to accrue that many BTC because of difficulty adjustments. It also took time for word to get out and other people to start mining BTC. So yeah, whomever Satoshi is dominated the hashrate and hence got all that BTC. So it is basically no different than pre-mining.
https://eklitzke.org/how-many-bitcoins-did-satoshi-nakamoto-mineThe genesis block was mined on January 3, 2009. For the next six months or so, the Bitcoin hash rate stayed very constant, at around 5 MH/s. There was a dip in network hash rate for a short time after that, and then the hash rate started picking up quickly around Christmas. I've included a few extra months of 2010 data to show how dramatic the increase in hash rate was.Note that a hashrate of 5 MH/s is extremely low. I have two RTX 3090 cards and they each have a hash rate of 120 MH/s. Even the 1070TI comes in at around 34 MH/s. This means one of my RTX 3090s can hash 24 times the total hash rate of the early BTC when Satoshi mined it!Most of the blocks mined in 2009 have very few transactions in them. The majority of them just include a single coinbase transaction, which is the required transaction encoding payout of the block reward to the miner. Coupled with the anemic hash rate, we can speculate that there were very few users of Bitcoin in 2009. It's known that a few enthusiasts like [Hal Finney](
https://en.wikipedia.org/wiki/Hal_Finney_(computer_scientist)) (the first user of Bitcoin) downloaded and ran Satoshi's code. Hal previously stated that he actually mined one of the first 100 blocks. But there's no evidence that any of these early adopters, including Hal, did much more than run the code for a short time before losing interest.
In fact, things were so dire that for most of 2009 blocks were being mined much slower than the 10 minute block interval target. You can click "Block Interval" in the chart legend to see the average block interval in each period. The goal block interval is 600 seconds. It wasn't until the final difficulty period in 2009 (which started at block 32256, mined Dec 30, 2009) that the difficulty target had to be adjusted upwards from the minimum value.
Based on the above, I find it reasonable to assume that most of the hashing power in the first year or so of Bitcoin's existence came from Satoshi Nakamoto. If real users were actually joining and leaving Bitcoin, one would expect the hash rate to have varied a lot more, particularly in the first six months. Starting in early 2010 the network hash rate does start increasing rapidly, suggesting that's when the real serious users started using (and mining) Bitcoin.
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