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> The industry needs more regulation because right now most investors are getting fleeced and getting left with nothing because there is a large pool of unsoph

by jimmy1 9y ago

> The industry needs more regulation because right now most investors are getting fleeced and getting left with nothing because there is a large pool of unsophisticated investors. I agree with the premise > The industry needs more regulation but not the reason, > unsophisticated investors If you are an unsophisticated investor trying to invest in an ICO and you lose out big, I think that is on you. I don't try my hand in algorithmic day trading, or long term value-based investing either because I know I am not informed enough to be able to make money, so I stay out.

gruez 9y ago
>If you are an unsophisticated investor trying to invest in an ICO and you lose out big, I think that is on you. I don't try my hand in algorithmic day trading, or long term value-based investing either because I know I am not informed enough to be able to make money, so I stay out. Like it or not, but there are plenty of "unsophisticated investors" that don't know to stay out.
- mmirate 9y ago
  There's an old saying about fools and their money...
Yizahi 9y ago
It's like saying that anyone losing something in free market had only himself to blame and there should be zero regulation of markets of any kind. Yeah, that works out perfectly in the long run. /s
- andrewflnr 9y ago
  This is doubly a strawman. "Don't invest in things you don't understand" is pretty much rule 1 of investing, which is quite different from the general case of participating in a market. Anyway, GP already said they agree that regulation is needed.
- mmirate 9y ago
  Your words are true at face value.
ballenf 9y ago
With the social and financial security nets we have, a person’s bankruptcy is on all taxpayers (as soon as they get food stamps, Medicaid, etc.). There’s an incentive to protect people from devastating financial mistakes, regardless of political slant.
- gt_ 9y ago
  Many will say “cut food stamps and Medicaid”
- mmirate 9y ago
  That is one of many arguments that we should cease to be so socialistic.
  - lovich 9y ago
    So let people starve so that a few others can get richer?
    - mmirate 9y ago
      The question, as always, is what did those people do to earn the food with which to not starve? (Many people do just fine by producing things of value and engaging in voluntary acts of trade.)
      - lovich 9y ago
        I mean, I'm coming from a place where I don't think we should let people die because they are currently not economically productive. If you think that people should die if they can't produce a surplus, you're free to have that opinion. Just don't hide it behind phrases like "we should cease to be so socialistic". I also hope youre the first to stand up and refuse help when you find yourself in a situation where your skills are no longer valued
        jimmy1 9y ago
deleted 9y ago
[deleted]

by jimmy1 9y ago

gruez 9y ago

>If you are an unsophisticated investor trying to invest in an ICO and you lose out big, I think that is on you. I don't try my hand in algorithmic day trading, or long term value-based investing either because I know I am not informed enough to be able to make money, so I stay out. Like it or not, but there are plenty of "unsophisticated investors" that don't know to stay out.

mmirate 9y ago
There's an old saying about fools and their money...

Yizahi 9y ago

It's like saying that anyone losing something in free market had only himself to blame and there should be zero regulation of markets of any kind. Yeah, that works out perfectly in the long run. /s

andrewflnr 9y ago
This is doubly a strawman. "Don't invest in things you don't understand" is pretty much rule 1 of investing, which is quite different from the general case of participating in a market. Anyway, GP already said they agree that regulation is needed.
mmirate 9y ago
Your words are true at face value.

ballenf 9y ago

With the social and financial security nets we have, a person’s bankruptcy is on all taxpayers (as soon as they get food stamps, Medicaid, etc.). There’s an incentive to protect people from devastating financial mistakes, regardless of political slant.

gt_ 9y ago
Many will say “cut food stamps and Medicaid”
mmirate 9y ago
That is one of many arguments that we should cease to be so socialistic.
- lovich 9y ago
  So let people starve so that a few others can get richer?
  - mmirate 9y ago
    The question, as always, is what did those people do to earn the food with which to not starve? (Many people do just fine by producing things of value and engaging in voluntary acts of trade.)
    - lovich 9y ago
      I mean, I'm coming from a place where I don't think we should let people die because they are currently not economically productive. If you think that people should die if they can't produce a surplus, you're free to have that opinion. Just don't hide it behind phrases like "we should cease to be so socialistic". I also hope youre the first to stand up and refuse help when you find yourself in a situation where your skills are no longer valued
      - jimmy1 9y ago

deleted 9y ago

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