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Completely agree, I’d much rather lose at least 6.2% (if not 20%) in totally legitimate fiat currency inflation than see 200% returns on crypto as a result of t

by _3u10 5y ago

Completely agree, I’d much rather lose at least 6.2% (if not 20%) in totally legitimate fiat currency inflation than see 200% returns on crypto as a result of that money printing. QE definitely isn’t wash trading.

nefitty 5y ago
That's how all Ponzi schemes are marketed. "I got rich, so can you!"
- ur-whale 5y ago
  If you are using the P word in a conversation about crypto, chances are you are not adding much value to the conversation. That particular dead horse has been beaten to a point where all is left are strictly people adhering to dogma on one side or the other of the conversation. Try tulips next, to make the picture complete.
  - nefitty 5y ago
    It's a cliché for a reason.
- tata71 5y ago
  This is why I didn't get a desk job where I had to show up by 8am...seemed like a cyclical ponzi scheme.
- _3u10 5y ago
  Like social security where old investors are paid out from the income of new investors? And your "investments" are just IOUs from the general revenue fund of the same company?
carnitine 5y ago
How is QE even remotely wash trading?
- _3u10 5y ago
  Closely related parties, no change in beneficial owner, entity trading is paid a commission of other market participants profits that result from the artificial inflation of the asset, buying and selling the same or substantially similar assets within 30 days. If anyone else took 15% of everyone else's returns on that asset and was using their own money with the stated purpose of inflating the asset price, they'd go to jail. "For example, wash trades were used in the LIBOR scandal to pay off brokers who manipulated the LIBOR submission panels for the Japanese Yen. According to charges filed by the UK financial authorities, UBS traders conducted nine wash trades with a brokerage firm to generate 170,000 pounds in fees as reward for the firm for its role in manipulating LIBOR rates.7"

by _3u10 5y ago

nefitty 5y ago

That's how all Ponzi schemes are marketed. "I got rich, so can you!"

ur-whale 5y ago
If you are using the P word in a conversation about crypto, chances are you are not adding much value to the conversation. That particular dead horse has been beaten to a point where all is left are strictly people adhering to dogma on one side or the other of the conversation. Try tulips next, to make the picture complete.
- nefitty 5y ago
  It's a cliché for a reason.
tata71 5y ago
This is why I didn't get a desk job where I had to show up by 8am...seemed like a cyclical ponzi scheme.
_3u10 5y ago
Like social security where old investors are paid out from the income of new investors? And your "investments" are just IOUs from the general revenue fund of the same company?

carnitine 5y ago

How is QE even remotely wash trading?

_3u10 5y ago
Closely related parties, no change in beneficial owner, entity trading is paid a commission of other market participants profits that result from the artificial inflation of the asset, buying and selling the same or substantially similar assets within 30 days. If anyone else took 15% of everyone else's returns on that asset and was using their own money with the stated purpose of inflating the asset price, they'd go to jail. "For example, wash trades were used in the LIBOR scandal to pay off brokers who manipulated the LIBOR submission panels for the Japanese Yen. According to charges filed by the UK financial authorities, UBS traders conducted nine wash trades with a brokerage firm to generate 170,000 pounds in fees as reward for the firm for its role in manipulating LIBOR rates.7"