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Society shouldn't ban everything that hasn't proven to be socially beneficial.

• deleted 9y ago
  [deleted]
• dragonwriter 9y ago
  Exchanges of the types prohibited by existing securities laws are not prohibited merely because they haven't proven to be socially beneficial, but because they have proven to be massively harmful. The idea that cryptocurrency as a subject of trading changes that in any way is a claim which requires some substantial basis before it would warrant an exception to the general rules written into law.
  • CryptoPunk 9y ago
    There is absolutely no proof that it's "massively harmful". It's impossible to quantify all of the positive and negative effects of any type of exchange, let alone to "prove" the effects are net harmful. >>the general rules written into law. I'm arguing against the principle that we should ban anything not proven to be socially beneficial.
    • yownie 9y ago
      Not to mention the authorities have a dearth of existing legislation under which to already prosecute bad actors in the crypto space. Ponzi schemes, fake ICO's and outright theft and extortion are already thoroughly addressed by existing legislation / property law. Summarily banning the thing you fine inconvenient to investigate is just lazy regulation, at best.
  • oreo81 9y ago
    How is it massively harmful?