RE: BLOODY IMPORTANT QUESTION: should we consider STEEM-ENGINE tokens a security or utility?

Utility!
It is generally discussed as a measure of usefulness.

business dictionary.com defines its as:

1. Economics: Pleasure or satisfaction (value for money) derived by a person from the consumption of a good or service or from being in a particular place, and for the maximization of which all economic actions are motivated
   http://www.businessdictionary.com/definition/utility.html

The key word here is maximization. This is precisely what Steem Engine is about. Whether it is chosen by lawyers to be classified as a donkey because it pulls a load, is regardless of the fact that a semi is called a truck in America.

Steem Engine pulls along a trailer containing tokens for the Steem blockchain. No one will ever dispute that; as should no one should ever dispute it as a utility for the blockchain.

However, the case for judging each token as an independent determinant of utility or security may remain in limbo for some time. Regulators simply may be too afraid to commit for years to come.

That said, I would dare venture that any token on S E could be considered a utility because it provides a gateway for interacting with the Steem blockchain.

Instead of over regulating, we should be thinking in terms of privileges. From a libertarian perspective, all S E tokens provide a utility service promoting Steem AND the few that could be regulated as securities should gain respect through elevated smart contract interactions with a STEEM-Regulator effort. No further regulatory requirement would be needed other than to meet the developer protocols as set by regulator smart programs.

To think otherwise is to set a brain on fiat.