5 ms·

Yes, we know who those 50 are, and the wealth they own is in highly regulated markets. We know what they own, how much they own, when they buy/sell. We also dic

Yes, we know who those 50 are, and the wealth they own is in highly regulated markets. We know what they own, how much they own, when they buy/sell. We also dictate that they cannot trade on insider info and must generally play fair. Say all you want about the efficacy of the above measures, they are absolutely not perfect. But it's completely different to bitcoin where none of the above applies, and often the opposite occurs.

cwkoss 5y ago
Between international holdings and shell companies, I'd be impressed if anyone could generate a top 50 list that was more than 60% accurate. We can generate top 50 lists of the more-regulated wealth, but there is also significant wealth hiding with little accountability.
AlwaysRock 5y ago
Do you? We know some of the people. Do you actually know who controls the majority of the globes wealth or are you just happy knowing you could probably look it up while with Bitcoin you couldnt? Functionally I don't really see a difference.
Softcadbury 5y ago
Exactly, and they can't influence on the price of the dollar by selling all their assets
krageon 5y ago
> highly regulated Regulated by them, so in practice not all that regulated
- qeternity 5y ago
  Please elaborate. Which regulations do you think are missing?
  - fsflover 5y ago
    Probably this: https://news.ycombinator.com/item?id=13916811 https://news.ycombinator.com/item?id=13916811 https://news.ycombinator.com/item?id=4551285 https://news.ycombinator.com/item?id=4551285
  - blatchcorn 5y ago
    I am not who you are asking but I want to chime in: the problem is not missing regulation, the problem is the rich decide on regulation and this regulation helps keep them rich. Specific examples: UK capital gains tax is lower than income taxes. This means if you are born in to a wealthy family and given a £1MM index fund, you will pay less yearly tax on your capital gains while chilling at home all day than someone with a £50K job working hard and contributing to society
    - qeternity 5y ago
      > the problem is not missing regulation, the problem is the rich decide on regulation and this regulation helps keep them rich. Ok - so the rich have decided on regulations which are not the ones that are best for everyone. So…missing regulations? By definition, if we have the wrong regulations, then we’re missing the correct ones. Capital gains taxes are lower for a specific reason: the capital that was initially invested was already taxed. These laws benefit average people much more than they do the rich on a relative basis. Go model out a retirement portfolio that is taxed/compounded at ordinary rates vs capital gains rates. What people really want is higher capital gains for rich people which is fine, but you fundamentally misunderstand why they’re lower in the first place, which is double taxation.
      - krageon 5y ago
        The original capital is not taxed, capital gains is.
        qeternity 5y ago
        Where do you think the original capital came from? When you buy shares of AAPL, you paid ordinary rates on income which you used to buy the shares.
- deleted 5y ago
  [deleted]
sowbug 5y ago
Citizens United switched US government to Proof of Stake. https://twitter.com/sowbug/status/938802817883545600 https://twitter.com/sowbug/status/938802817883545600

cwkoss 5y ago

Between international holdings and shell companies, I'd be impressed if anyone could generate a top 50 list that was more than 60% accurate. We can generate top 50 lists of the more-regulated wealth, but there is also significant wealth hiding with little accountability.

AlwaysRock 5y ago

Do you? We know some of the people. Do you actually know who controls the majority of the globes wealth or are you just happy knowing you could probably look it up while with Bitcoin you couldnt? Functionally I don't really see a difference.

Softcadbury 5y ago

Exactly, and they can't influence on the price of the dollar by selling all their assets

krageon 5y ago

> highly regulated Regulated by them, so in practice not all that regulated

qeternity 5y ago
Please elaborate. Which regulations do you think are missing?
- fsflover 5y ago
  Probably this: https://news.ycombinator.com/item?id=13916811 https://news.ycombinator.com/item?id=13916811 https://news.ycombinator.com/item?id=4551285 https://news.ycombinator.com/item?id=4551285
- blatchcorn 5y ago
  I am not who you are asking but I want to chime in: the problem is not missing regulation, the problem is the rich decide on regulation and this regulation helps keep them rich. Specific examples: UK capital gains tax is lower than income taxes. This means if you are born in to a wealthy family and given a £1MM index fund, you will pay less yearly tax on your capital gains while chilling at home all day than someone with a £50K job working hard and contributing to society
  - qeternity 5y ago
    > the problem is not missing regulation, the problem is the rich decide on regulation and this regulation helps keep them rich. Ok - so the rich have decided on regulations which are not the ones that are best for everyone. So…missing regulations? By definition, if we have the wrong regulations, then we’re missing the correct ones. Capital gains taxes are lower for a specific reason: the capital that was initially invested was already taxed. These laws benefit average people much more than they do the rich on a relative basis. Go model out a retirement portfolio that is taxed/compounded at ordinary rates vs capital gains rates. What people really want is higher capital gains for rich people which is fine, but you fundamentally misunderstand why they’re lower in the first place, which is double taxation.
    - krageon 5y ago
      The original capital is not taxed, capital gains is.
      - qeternity 5y ago
        Where do you think the original capital came from? When you buy shares of AAPL, you paid ordinary rates on income which you used to buy the shares.
deleted 5y ago
[deleted]

sowbug 5y ago

Citizens United switched US government to Proof of Stake. https://twitter.com/sowbug/status/938802817883545600 https://twitter.com/sowbug/status/938802817883545600