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It's been interesting to see the users of regulation-dodging services like Uber and Bitcoin slowly learn why those regulations came about in the first place.

yetanotheruser 9y ago
I read another comment on hacker news today that referred to a type of regulation that is actually accountability. Perhaps if we were able to classify regulation further it would be easier to analyze the tradeoffs of certain regulations rather than saying all regulation is bad or all regulation is good.
- vec 9y ago
  But if we do that we have to accept that there are tradeoffs in the first place. We have to recognize that reasonable people might disagree about which tradeoff to make. We have to accept that even good decisions are likely to leave someone somewhere worse off. We might even have to gasp understand the historical and cultural context in which the current system arose. Applying a slogan is so much easier.
  - minikites 9y ago
    Uber et al should have thought about those tradeoffs. That's my point.
- maxxxxx 9y ago
  It's much easier to be binary. Thinking about tradeoffs is hard and can't be used for scoring political points.
noarchy 9y ago
I don't think this is a failure of regulation (or the lack thereof), but a QA/testing failure.
- analyst74 9y ago
  I imagine regulations are not there to prevent financial institutions from making mistakes, they are there to wreck those who do.
rajacombinator 9y ago
Actually this is another example of how regulation allows rent seeking rapacious incumbents like Coinbase to stay in business.
- Relys 9y ago
  "Bu-bu-but it's too big to fail" (e.g. the banking crisis of 2008 and recent Equifax breach).
- thephyber 9y ago
  > Actually this is another example of how regulation allows rent seeking rapacious incumbents like Coinbase to stay in business. I fail to see how "this is an example". Care to elaborate? Rent seeking is traditionally used when it comes to regulatory capture or certain types of actions by monopoly companies. CoinBase, although large, is not the only place nor has it built a moat with lobbyists+regulators friendly to it.

yetanotheruser 9y ago

I read another comment on hacker news today that referred to a type of regulation that is actually accountability. Perhaps if we were able to classify regulation further it would be easier to analyze the tradeoffs of certain regulations rather than saying all regulation is bad or all regulation is good.

vec 9y ago
But if we do that we have to accept that there are tradeoffs in the first place. We have to recognize that reasonable people might disagree about which tradeoff to make. We have to accept that even good decisions are likely to leave someone somewhere worse off. We might even have to gasp understand the historical and cultural context in which the current system arose. Applying a slogan is so much easier.
- minikites 9y ago
  Uber et al should have thought about those tradeoffs. That's my point.
maxxxxx 9y ago
It's much easier to be binary. Thinking about tradeoffs is hard and can't be used for scoring political points.

noarchy 9y ago

I don't think this is a failure of regulation (or the lack thereof), but a QA/testing failure.

analyst74 9y ago
I imagine regulations are not there to prevent financial institutions from making mistakes, they are there to wreck those who do.

rajacombinator 9y ago

Actually this is another example of how regulation allows rent seeking rapacious incumbents like Coinbase to stay in business.

Relys 9y ago
"Bu-bu-but it's too big to fail" (e.g. the banking crisis of 2008 and recent Equifax breach).
thephyber 9y ago
> Actually this is another example of how regulation allows rent seeking rapacious incumbents like Coinbase to stay in business. I fail to see how "this is an example". Care to elaborate? Rent seeking is traditionally used when it comes to regulatory capture or certain types of actions by monopoly companies. CoinBase, although large, is not the only place nor has it built a moat with lobbyists+regulators friendly to it.