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We have rules against speculation because it highly skews towards people already with the necessary resources. 2008 is already a distant memory for some. Math
by prox 6y ago
We have rules against speculation because it highly skews towards people already with the necessary resources. 2008 is already a distant memory for some.
Math will never be outlawed, but as it stands now it is just too speculative. I don’t have an answer, but as it stands [cryptocurrency / NFT] we need to have a lively debate on what we want it to be.
- shkkmo 6y ago> We have rules against speculation. This is so broad I am not sure which laws you reference. Most of the laws I am aware of talk about how bmuch money you must have to be allowed to speculate. > Math will never be outlawed, I wish I shared you certainty. We currently have laws about exporting some types of Math (cryptography) and we have lots politicians interested in placing further restrictions on cryptography.
- prox 6y agoCountries around the world implemented laws : Dodd-Frank in the US. Banks have tighter rules against speculative activities in general around the world after 2008. It was a mortgage crisis foremost, with lots of speculation. Crypto is kind of the same : you invest and hope to gain a return. It stands to reason you want to curb the damage it can do if (and when) it bombs. Laws in general should not be unnecessary broad, most countries have that general rule, and while there is certainly another debate to had on privacy and backdoors, it is a different debate. So when a law comes against Crypto, it should be very specific to curb its problems.