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Fully agree. I'm heavily in crypto but keep saying the same - people will demand banks, will demand regulation, will demand insurance. One recent example: a fe
by josefrichter 5y ago
Fully agree. I'm heavily in crypto but keep saying the same - people will demand banks, will demand regulation, will demand insurance.
One recent example: a few days ago there was a big movement in crypto market. Due to huge traffic spike that went with that, one unnamed chain practically ground to a halt. The only thing that continued working normally was liquidation bots...
So tons of people got liquidated coz they couldn't adjust their positions. And now obviously they all are calling for compensation. But in the decentralized world of de-humanized smart contracts with no legal framework, there's obviously nobody responsible, hence nobody to pay any compensation.
- ricardobayes 5y agoIt's a breath of fresh air to read some level-headed (and realistic) response in this topic. I find it usually when btc is in a downswing, it's easier to have a meaningful conversation about it.
- bhouston 5y ago> one unnamed chain practically ground to a halt. What chain? Any links to stories on this?
- josefrichter 5y agoI don't want to spread FUD here. For the point I wanted to convey it's not relevant. Feel free to look it up, but please don't write it here, coz it will turn to flame war.
- jstx1 5y agoIt's not FUD - it either halted or it didn't. Are you talking about Solana?
- ShamelessC 5y agoThey're referring to openly "manipulating sentiment" (with facts?) around a given coin/institution. I guess people are ostracized for this in crypto circles? Seems pretty lame honestly.
- oblio 5y agoNot just lame, highly ironic, considering the entire environment. https://www.youtube.com/watch?v=AwDbx-nuQ5o https://www.youtube.com/watch?v=AwDbx-nuQ5o
- arbol 5y agoSo you hold a lot of SOL then ? ;)
- AtillaBosma 5y agoI believe it's Solana based on this Bloomberg article: https://www.bloomberg.com/news/articles/2022-02-03/solana-polygon-are-among-blockchains-being-overrun-by-crypto-trading-bots https://www.bloomberg.com/news/articles/2022-02-03/solana-po...
- bidirectional 5y agoThe chain is Solana. I've no idea why the other commenter is so adamant on not naming it. https://www.bloomberg.com/news/articles/2022-02-03/solana-polygon-are-among-blockchains-being-overrun-by-crypto-trading-bots https://www.bloomberg.com/news/articles/2022-02-03/solana-po...
- charlieyu1 5y agoI don’t want regulations while being aware I’m at my own risk to take care about my money.