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yes, a deal between the parties, with all the risk and reward that goes with it.. really eye-opening to see all the comments wishing for an all-powerful referee

yes, a deal between the parties, with all the risk and reward that goes with it.. really eye-opening to see all the comments wishing for an all-powerful referee to check every outcome and action in private affairs

JumpCrisscross 5y ago
> eye-opening to see all the comments wishing for an all-powerful referee to check every outcome and action in private affairs News flash: this is a part of why we have banking and securities regulations. Because when the people clamouring for an out lose money, 90% of them turn it into everyone else’s problem. (This is true in traditional finance. It’s true in crypto. It’s true when the three-year old screams about not being allowed the hot sauce and then screams when they taste it.) $625mm from Axie Infinity is tolerable to the system. But when Tether busts, do you really think it won’t become our elected governments’ problem?
- mistrial9 5y ago
  I have St Louis Federal Reserve reports right here on my desk showing the ballooning USD money supply. "News Flash" means the person you are talking at, has never heard of this.. so News Flash elsewhere This article has nothing to do with "Tether" .. a soapbox somewhere is lonely
kache_ 5y ago
I'm actually not wishing for a powerful referee - I'm _happy_ this hack happened. It means that cryptocurrency as an experiment succeeded in completely removing centralized control, and we're now closer to my libertarian utopia enabled through technology
- AlexandrB 5y ago
  Well, at least this is ideologically consistent. However my guess is crypto will eventually end up with the worst of both worlds: the technological inefficiency of a decentralized blockchain and the bureaucratic inefficiency of regulation. People don't like having half a billion stolen on the regular and will want someone to "do something".
jazzyjackson 5y ago
it's true, I would choose modern civilization over the wild west

JumpCrisscross 5y ago

> eye-opening to see all the comments wishing for an all-powerful referee to check every outcome and action in private affairs News flash: this is a part of why we have banking and securities regulations. Because when the people clamouring for an out lose money, 90% of them turn it into everyone else’s problem. (This is true in traditional finance. It’s true in crypto. It’s true when the three-year old screams about not being allowed the hot sauce and then screams when they taste it.) $625mm from Axie Infinity is tolerable to the system. But when Tether busts, do you really think it won’t become our elected governments’ problem?

mistrial9 5y ago
I have St Louis Federal Reserve reports right here on my desk showing the ballooning USD money supply. "News Flash" means the person you are talking at, has never heard of this.. so News Flash elsewhere This article has nothing to do with "Tether" .. a soapbox somewhere is lonely

kache_ 5y ago

I'm actually not wishing for a powerful referee - I'm _happy_ this hack happened. It means that cryptocurrency as an experiment succeeded in completely removing centralized control, and we're now closer to my libertarian utopia enabled through technology

AlexandrB 5y ago
Well, at least this is ideologically consistent. However my guess is crypto will eventually end up with the worst of both worlds: the technological inefficiency of a decentralized blockchain and the bureaucratic inefficiency of regulation. People don't like having half a billion stolen on the regular and will want someone to "do something".

jazzyjackson 5y ago

it's true, I would choose modern civilization over the wild west