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You bring up regulatory controls on banks, but then dismiss them as if most folks would willingly put their money into them if the regulations weren't there. If

You bring up regulatory controls on banks, but then dismiss them as if most folks would willingly put their money into them if the regulations weren't there. If you'd trust the bank with your money without the regulations, I'd love to send you details about the bank I'm forming.

lazyasciiart 7y ago
Most folks, maybe not. Everyone who's ever used bitcoin though....
jcranberry 7y ago
I don't see where he made any such dismissal.
joshuamorton 7y ago
You've managed to acknowledge and then ignore the point. You aren't trustworthy. Or maybe you are, but I don't know that. A bank is. There's history of acting, if not ethically, at least not totally unethically, even without government regulations. Wells Fargo, Visa, and Coinbase all have decreasing sets of regulations, but all have more consumer trust than "badrequest".
- AndunD 7y ago
  Right... consumers trust bankers now?
- pessimizer 7y ago
  > There's history of acting, if not ethically, at least not totally unethically, even without government regulations. I do not believe that this is a thing that is true. There is no well-known history of ethical unregulated banks.
  - joshuamorton 7y ago
    Like I said, not ethically, but not totally unethically: they'll absolutely try to rip you off, but they won't just steal your money.
    - TeMPOraL 7y ago
      In the world of cryptocurrencies, everything to the "less regulation" side of Coinbase actually did steal your money.
skybrian 7y ago
I certainly don't mean to dismiss financial regulation. It's an important reason why today's banks are lower risk than in previous times - at least, for depositors. But people used and trusted banks long before FDIC insurance. (And often, that trust was broken.) I expect we will see more regulation of the companies storing personal data, along the lines of the GDPR. I don't expect people will stop using the big tech companies to store personal data.

lazyasciiart 7y ago

Most folks, maybe not. Everyone who's ever used bitcoin though....

jcranberry 7y ago

I don't see where he made any such dismissal.

joshuamorton 7y ago

You've managed to acknowledge and then ignore the point. You aren't trustworthy. Or maybe you are, but I don't know that. A bank is. There's history of acting, if not ethically, at least not totally unethically, even without government regulations. Wells Fargo, Visa, and Coinbase all have decreasing sets of regulations, but all have more consumer trust than "badrequest".

AndunD 7y ago
Right... consumers trust bankers now?
pessimizer 7y ago
> There's history of acting, if not ethically, at least not totally unethically, even without government regulations. I do not believe that this is a thing that is true. There is no well-known history of ethical unregulated banks.
- joshuamorton 7y ago
  Like I said, not ethically, but not totally unethically: they'll absolutely try to rip you off, but they won't just steal your money.
  - TeMPOraL 7y ago
    In the world of cryptocurrencies, everything to the "less regulation" side of Coinbase actually did steal your money.

skybrian 7y ago

I certainly don't mean to dismiss financial regulation. It's an important reason why today's banks are lower risk than in previous times - at least, for depositors. But people used and trusted banks long before FDIC insurance. (And often, that trust was broken.) I expect we will see more regulation of the companies storing personal data, along the lines of the GDPR. I don't expect people will stop using the big tech companies to store personal data.