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Regulations provide an avenue for rejecting actions. This avenue can be subsequently abused by bad actors - for example, accredited investment is abused by the
by hyprCoin 9y ago
Regulations provide an avenue for rejecting actions. This avenue can be subsequently abused by bad actors - for example, accredited investment is abused by the wealthy to extend their opportunities at the expense of the middle class and poor.
Feel free to buy lottery tickets or gamble, just don't let us catch you investing in a startup seed round.
- s73ver_ 9y ago"Feel free to buy lottery tickets or gamble, just don't let us catch you investing in a startup seed round." People keep spouting that argument, and I'm utterly unconvinced of its relevance. Namely because you're arguing against the very things that would compel disclosure of the information required to make an informed decision. The other two things you mentioned have that information provided.
- hyprCoin 9y agoYes if you read the fine print you can tell what your chances of social mobility are from a lottery ticket. It's fine if the wealthy elite take the 1000x returns from successful startups. We wouldn't want the poor hurting themselves. Coins represent a better approach, one not walled off to the general public. Coins can represent concepts or goals that live beyond a centralized organization providing documentation. Of course there is vested interest in regulation. Accredited investors love the walled gardens.