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> anyone can fuck with it in any way they want (...) it's a feature. Keyword: anyone. Symmetry of information, symmetry of power. Symmetry of risk exposure and

> anyone can fuck with it in any way they want (...) it's a feature. Keyword: anyone. Symmetry of information, symmetry of power. Symmetry of risk exposure and reward. I will take that over a golden cage - any day, any time.

arcticbull 6y ago
Oy vey. No. There's no symmetry of information between you and an exchange and the arbitrage bots and various other manipulation bots, whales in their discords, and so on. Between you and and the Tether bros. For instance, where's the audit? Only Tether and Bitfinex know what they're actually holding, if anything. That's not symmetry of information. There's no symmetry of power. Power is a function of position size. Your statement is only true if everyone has a position of equal size. There's no symmetry of risk exposure and reward. That's a function of your position size. There's symmetry of opportunity to invest your position but it doesn't matter if you're an ant in front of a freight train. Both have equal access to the tracks! In fact that's not even true at exchanges or with variable transaction fees. This argument you're making is basically Citizen's United. "Money is speech, and all speech is the same no matter how much it costs!" -- Incorrect. Money is volume. Anyone can talk free of charge but unless you're doing it loud enough, what you have to say doesn't matter because nobody can hear you. I get it, these are the typical kool-aid lines from r/bitcoin. They do not stand up to even the slightest bit of scrutiny.
- rglullis 6y ago
  I know I added it in a later edit, but did you ignore the part I said about systemic issues deliberately? Tether is on the same track to become Mt. Gox, times a hundred. They are trying to outsmart the market and inevitably going to fail and wipe out the funds of those that trusted them. They will get rekt'd at some point. That will be good. Not for the people involved, but the overall system. > This argument you're making is basically Citizen's United. (...) Anyone can talk free of charge but unless you're doing it loud enough, what you have to say doesn't matter because nobody can hear you. Quite the opposite. My idea is that talk only should be considered when it is not cheap, when it involves a considerable stake from whoever is calling for action/change/bet. It is not free (of cost) and it should not be free (of consequences). The problem is that the current system even when you get organized with a sizeable group (WSB) who is willing to pay the price and face the consequences, you still get silenced, shut down or rug pulled.

arcticbull 6y ago

Oy vey. No. There's no symmetry of information between you and an exchange and the arbitrage bots and various other manipulation bots, whales in their discords, and so on. Between you and and the Tether bros. For instance, where's the audit? Only Tether and Bitfinex know what they're actually holding, if anything. That's not symmetry of information. There's no symmetry of power. Power is a function of position size. Your statement is only true if everyone has a position of equal size. There's no symmetry of risk exposure and reward. That's a function of your position size. There's symmetry of opportunity to invest your position but it doesn't matter if you're an ant in front of a freight train. Both have equal access to the tracks! In fact that's not even true at exchanges or with variable transaction fees. This argument you're making is basically Citizen's United. "Money is speech, and all speech is the same no matter how much it costs!" -- Incorrect. Money is volume. Anyone can talk free of charge but unless you're doing it loud enough, what you have to say doesn't matter because nobody can hear you. I get it, these are the typical kool-aid lines from r/bitcoin. They do not stand up to even the slightest bit of scrutiny.

rglullis 6y ago
I know I added it in a later edit, but did you ignore the part I said about systemic issues deliberately? Tether is on the same track to become Mt. Gox, times a hundred. They are trying to outsmart the market and inevitably going to fail and wipe out the funds of those that trusted them. They will get rekt'd at some point. That will be good. Not for the people involved, but the overall system. > This argument you're making is basically Citizen's United. (...) Anyone can talk free of charge but unless you're doing it loud enough, what you have to say doesn't matter because nobody can hear you. Quite the opposite. My idea is that talk only should be considered when it is not cheap, when it involves a considerable stake from whoever is calling for action/change/bet. It is not free (of cost) and it should not be free (of consequences). The problem is that the current system even when you get organized with a sizeable group (WSB) who is willing to pay the price and face the consequences, you still get silenced, shut down or rug pulled.