3 ms·

A lot of that dumb money is being put in by wall street, so not sure you're right.

• modeless 9y ago
  This is not my impression. It seems to me that the dumb money is people who made early fortunes in crypto or regular people looking to ride the next pump and dump. If Wall Street money is coming in it's mostly to take advantage of the dumb money for a quick profit, for example by getting preferential pricing or timing so they can sell to later investors).
  • ikeboy 9y ago
    I think most of the money that's going in is by people with more than the 250k limit. Above that you can market pretty much anything as long as you're honest, I think. So I don't think it would be affected much, except that ordinary users wouldn't be able to use it (unless they could get it on exchanges, which may be under different laws?) Not a simple question, I guess.
    • dweekly 9y ago
      What's the 250k limit? (If you're speaking of Accredited Investors, the limit is $1m in net worth not including primary residence.)
      • arkem 9y ago
        Maybe they're referring to the 200k income threshold for the other accredited investor test?
        • ikeboy 9y ago
          Yes, that. Remembered wrong.
  • username223 9y ago
    > If Wall Street money is coming in it's mostly to take advantage of the dumb money for a quick profit,... Examples? Is Goldman playing in the current bubble?
    • thinkmassive 9y ago
      Yes. https://www.bloomberg.com/news/articles/2017-12-07/goldman-sachs-is-said-to-clear-bitcoin-futures-when-they-go-live https://www.bloomberg.com/news/articles/2017-12-07/goldman-s...