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Anyone saying blanket "we don't need consumer protection mechanisms" because it's a "failing" of something or the other must be taking the piss. As a parent of
by dadarepublic 7y ago
Anyone saying blanket "we don't need consumer protection mechanisms" because it's a "failing" of something or the other must be taking the piss.
As a parent of children, consumer protections are overall a "good thing" to help prevent bad actors from doing harm. It goes for any space that can do harm to you or your family in any way.
It's why you have exchanges like Gemini in place that seek to be the "most regulated" crypto exchange - to instill trust in the service and market... and your investment.
That being said there is still a ways to go... it will be interesting to see if the market can solve some of these issues through natural growth and competition.
- Jeff_Brown 7y agoI think it's weird how family gets invoked to change the moral gravity of an issue. It suggests orphaned children, for instance, should care less about humanity.
- gerikson 7y agoHow does being an orphan make one care less about humanity? Personally, I want orphans (as defined as minors with no living parents) to be well-cared for regardless, either by relatives or by an outside agency ("orphanage" or foster home).
- Jeff_Brown 7y agoAbsolutely, that's my point. We should care about people, period. Whether one has a family should be irrelevant to the question of how to engineer a society.
- gerikson 7y agoThanks for clarifying. I agree 100%.
- PeterisP 7y agoIt's not about the moral gravity but about an illustrative example of a particular category of people who have access to devices where buying stuff is possible - children. Our marketplace has at least some customers that clearly are unable to protect themselves and need protection, e.g. these children. This places some contraints on the properties that this marketplace must have - e.g. reversals must be possible without undue burden. And this places some limitations on what technologies can/can't provide these properties and thus would/wouldn't be suitable.
- Jeff_Brown 7y agoIt's a good point, about children and reversing transactions. Even when everyone's an adult, consumer protections can be very important -- e.g. to prevent things like lending crises. Invoking family to make an ethical point is something I see often, in many different circumstances.