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The fact that laws prevent people from doing things that would cause them harm is a feature, not a bug. The accreditation requirements are not absurdly stringe

The fact that laws prevent people from doing things that would cause them harm is a feature, not a bug. The accreditation requirements are not absurdly stringent (eg $200k annual income). I think there’s a clear argument that people who do not meet those requirements can neither accurately judge the risk of their prospective investments nor afford to lose their investment (high likelihood). The current crypto markets are perfectly bearing this line of thinking out. Retail investors are free to invest in public companies where there are significantly more fraud protections in place.

thethimble 5y ago
Also note that the SEC has recently (2016) relaxed rules on equity crowdfunding to allow retail investors more access to such deals while also mitigating some components of risk or fraud: https://www.sec.gov/smallbusiness/exemptofferings/regcrowdfunding https://www.sec.gov/smallbusiness/exemptofferings/regcrowdfu...
fleddr 5y ago
You're only repeating the law without addressing the point. Rich people, whom are already in a situation of privilege, have unique access to the number one way to exponentially increase their wealth: an early seat at the table. The basis for this distinction is that they're rich. It's kind of insane to award rich people with extra perks. The other basis for the distinction is that they're smart, and we're stupid. Whether you're stupid or smart apparently is based on the random number of 200K. Below it you're obviously not very smart. Preventing self harm is quite an arbitrary point. I'd say the greatest self harm one can inflict is regarding your health. Death seems worse than losing money. Yet there's basically no protection at all against this self harm, hence we have an obesity crisis, diabetes crisis, inactivity crisis, sleep crisis, mental health crisis, public health is in a terrible state. This is all fine though, just don't lose money.

thethimble 5y ago

Also note that the SEC has recently (2016) relaxed rules on equity crowdfunding to allow retail investors more access to such deals while also mitigating some components of risk or fraud: https://www.sec.gov/smallbusiness/exemptofferings/regcrowdfunding https://www.sec.gov/smallbusiness/exemptofferings/regcrowdfu...

fleddr 5y ago

You're only repeating the law without addressing the point. Rich people, whom are already in a situation of privilege, have unique access to the number one way to exponentially increase their wealth: an early seat at the table. The basis for this distinction is that they're rich. It's kind of insane to award rich people with extra perks. The other basis for the distinction is that they're smart, and we're stupid. Whether you're stupid or smart apparently is based on the random number of 200K. Below it you're obviously not very smart. Preventing self harm is quite an arbitrary point. I'd say the greatest self harm one can inflict is regarding your health. Death seems worse than losing money. Yet there's basically no protection at all against this self harm, hence we have an obesity crisis, diabetes crisis, inactivity crisis, sleep crisis, mental health crisis, public health is in a terrible state. This is all fine though, just don't lose money.