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So what you are basically saying is that the stock market is not really a free market; and has arbitrary restrictions to make everything looks stable and legit.

by csomar 5y ago

So what you are basically saying is that the stock market is not really a free market; and has arbitrary restrictions to make everything looks stable and legit. Okay.

nuerow 5y ago
> So what you are basically saying is that the stock market is not really a free market; and has arbitrary restrictions to make everything looks stable and legit. Okay. That makes as much sense as claiming that a free society isn't really free because you're subjected to arbitrary restrictions that punish you for stealing and embezzling.
darkcha0s 5y ago
I can't murder my neighbour, so you're saying we are not actually living in a free society
toofy 5y ago
I don’t think any serious person has ever implied the stock market has no regulations/protections. I mean, are you surprised that some things are illegal? Of course not, no one is surprised by this. Could you imagine what a clusterfuck the market would be with no regulations?
- throw0101a 5y ago
  > Could you imagine what a clusterfuck the market would be with no regulations? Generally regulations are written after clusterfucks have occurred to reduce the risk of them happening again. It's the same reason we have building codes: after a Great Fire or two happens in a given city, fire breaks are usually mandated.
  - toofy 5y ago
    Absolutely. This is why in the digital currency realm we’ll absolutely see a repeat of many the exact same grifts over and over again that we’ve already gone through and already figured out how to mitigate. But we’ll just fall for them all over again. It’s amazing to me how many times we’re repeating the same mistakes over and over again that we’ve made in the relatively recent past because “it’ll be different this time because technology!” or whatever—and i don’t only mean in the coin sphere. I work, live, breathe, eat and play with technology however, quite a few people, usually those falling for marketing hype have deluded themselves pretty hard. Humanity scale chaotic complexity problems still exist and technology isn’t even close to solving those and won’t be for a long, long time.
    - gitfan86 5y ago
      It is the same reason you still see banner adds with a beautiful woman saying that she is looking for a hookup in your town. Also the reason we have lottery tickets and casinos and pyramid schemes. People logically know it is risky, but they want to give it a chance just in case this time is different.
chalst 5y ago
There is something like a global market in stock markets: capital trade gravitates to the "fittest" stock markets. And in the long term the fittest stock markets are without exceptions ones with transparency rules and rules protecting minority investors, where these rules are backed up by national laws that give these rules teeth. There's a reason for this: while in the short term dropping these rules gives flexibility, lower costs and the promise of new sources of profit, inevitably if unruly capital markets get big, small investors get screwed and a lot of investor wealth gets destroyed. We've seen this pattern a lot over the last two centuries. Simplistic free market ideology has a lot to answer for: successful markets need well-functioning institutions.
lowdownfork 5y ago
Those sound like non-arbitrary restrictions to make everything actually be stable and legit.

by csomar 5y ago

So what you are basically saying is that the stock market is not really a free market; and has arbitrary restrictions to make everything looks stable and legit. Okay.

nuerow 5y ago

> So what you are basically saying is that the stock market is not really a free market; and has arbitrary restrictions to make everything looks stable and legit. Okay. That makes as much sense as claiming that a free society isn't really free because you're subjected to arbitrary restrictions that punish you for stealing and embezzling.

darkcha0s 5y ago

I can't murder my neighbour, so you're saying we are not actually living in a free society

toofy 5y ago

I don’t think any serious person has ever implied the stock market has no regulations/protections. I mean, are you surprised that some things are illegal? Of course not, no one is surprised by this. Could you imagine what a clusterfuck the market would be with no regulations?

throw0101a 5y ago
> Could you imagine what a clusterfuck the market would be with no regulations? Generally regulations are written after clusterfucks have occurred to reduce the risk of them happening again. It's the same reason we have building codes: after a Great Fire or two happens in a given city, fire breaks are usually mandated.
- toofy 5y ago
  Absolutely. This is why in the digital currency realm we’ll absolutely see a repeat of many the exact same grifts over and over again that we’ve already gone through and already figured out how to mitigate. But we’ll just fall for them all over again. It’s amazing to me how many times we’re repeating the same mistakes over and over again that we’ve made in the relatively recent past because “it’ll be different this time because technology!” or whatever—and i don’t only mean in the coin sphere. I work, live, breathe, eat and play with technology however, quite a few people, usually those falling for marketing hype have deluded themselves pretty hard. Humanity scale chaotic complexity problems still exist and technology isn’t even close to solving those and won’t be for a long, long time.
  - gitfan86 5y ago
    It is the same reason you still see banner adds with a beautiful woman saying that she is looking for a hookup in your town. Also the reason we have lottery tickets and casinos and pyramid schemes. People logically know it is risky, but they want to give it a chance just in case this time is different.

chalst 5y ago

There is something like a global market in stock markets: capital trade gravitates to the "fittest" stock markets. And in the long term the fittest stock markets are without exceptions ones with transparency rules and rules protecting minority investors, where these rules are backed up by national laws that give these rules teeth. There's a reason for this: while in the short term dropping these rules gives flexibility, lower costs and the promise of new sources of profit, inevitably if unruly capital markets get big, small investors get screwed and a lot of investor wealth gets destroyed. We've seen this pattern a lot over the last two centuries. Simplistic free market ideology has a lot to answer for: successful markets need well-functioning institutions.

lowdownfork 5y ago

Those sound like non-arbitrary restrictions to make everything actually be stable and legit.