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Wall Street will trade anything they can make money on. Better to make money on transactions than trying to win the ponzi scheme.
by selectodude 9y ago
Wall Street will trade anything they can make money on. Better to make money on transactions than trying to win the ponzi scheme.
- ethbro 9y agoAnd if it's an unregulated market, then they'll trade even more money.
- twblalock 9y agoIt won't remain unregulated for long if the banks get in on it, or if a large percentage of the public starts using it. After one or two bad examples on the TV news of banks screwing people with crypto or a major exchange hack that affects average Americans, you can be sure regulation will be coming soon.
- bcheung 9y agoThe U.S. Commodities Futures Trading Commission ruled that cryptocurrency is a commodity (not a currency). As such, all laws regarding commodities apply. So it isn't unregulated. The grey area will be where in the use cases where it IS used as a currency. Since it is technically not a currency, is it not subject to currency laws?
- bsenftner 9y agoWall Street will trade anything people will speculate. Regardless of its merit or value, it's the transaction that generates their revenues. They care not what is being traded.
- conanbatt 9y ago"And I think the people who are professional traders that go into trading cryptocurrencies, it’s just disgusting. It’s like somebody else is trading turds and you decide, ‘I can’t be left out.'” - Charlie Munger