5 ms·
When half of the people responsible for regulating markets are, instead, using insider knowledge to make a killing at day-trading, it's hard to trust the system
by beloch 5y ago
When half of the people responsible for regulating markets are, instead, using insider knowledge to make a killing at day-trading, it's hard to trust the system.
So, the natural response is to build a new system that can be made to dance on strings by people you don't even know the identities of.
It doesn't exactly seem like progress, does it?
- mcguire 5y agoYou are assuming the two systems are equivalent.
- BlueTemplar 5y agoIronically a lot of people that would have before criticized Wall Street now seem to be spending more effort criticizing cryptocurrencies ? (Even though they are the same kind of people that created and popularized cryptocurrencies to deal with Wall Street's issues in the first place ?)
- wpietri 5y agoI have no problem criticizing both. Indeed, one good criticism of cryptocurrencies is that the are sucking up a lot of the attention and money that could go into actual reform. For example, contrast Bitcoin usage in emerging markets with something like M-Pesa. They both started at the same time, but M-Pesa has been a huge boon to the unbanked, whereas Bitcoin is a rounding error in those markets.
- BlueTemplar 5y agoAny good source to learn what M-Pesa is ?
- wpietri 5y agoHelp me understand what you need beyond what you'd get from the top 10 Google hits. Because I see 4 or 5 sources there that seem good to me.