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<p>Ether easily fits the first two criteria. People buy Ether with fiat currency, and many do so with the expectation of profit. However, the second two criteria are more difficult to prove.</p>
<p>First, money used to purchase Ether does not necessarily go toward a common enterprise. In its current form, purchased Ether only permits usage of the network, not ownership to an enterprise. This condition may change under Proof-of-Stake given that Ether offers people the ability to earn returns while securing