4 ms·
"Two consenting adults". That is a misrepresentation of reality. You could say the same about Pyramid schemes. No one forced others to buy into it. The point i
by hohenheim 9y ago
"Two consenting adults". That is a misrepresentation of reality. You could say the same about Pyramid schemes. No one forced others to buy into it.
The point is ICOs are akin to scams. And there should be a regulations around it.
- CryptoPunk 9y agoYou can't make a blanket characterisation of token sales like that. They're not categorically scams.
- askmike 9y agoWhich is a lot people in this thread want regulation as opposed to a flat out ban.
- CryptoPunk 9y agoWe have a regulation against fraud already. New proposed regulations are about banning unvetted token sales, to preempt possible scams, which is limiting people's contracting rights when there is no evidence of a crime - only a possibility of a scam based on a generalisation.
- mcguire 9y agoProblem: stock booms result in massive fraud and a great deal of economic damage. Solution: regulate the stock market. Problem: cannot sell things we want to sell. Solution: Derivatives. Problem: CDOs cause massive economic damage. Solution: don't do that. Problem: cannot sell what we want to. Solution: Etherium. ...
- CryptoPunk 9y ago>Problem: stock booms result in massive fraud and a great deal of economic damage. >Solution: regulate the stock market. If people want to trade the price of a digital token into bubble territory, that's really their business. No one else is forced to buy up that token. Which governing authority will know it's a bubble anyway? It's not like it's possible to know if something is overvalued. If it were, one could reliably short every bubble and make a profit, and in fact do so so much and at such scale that their market shorting prevents bubbles from ever forming (since a short adds pressure on the sell-side).