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OTC exists in all markets, it's called a "dark pool". It's funny how little people know about more traditional markets but everyone thinks crypto is full of fra

OTC exists in all markets, it's called a "dark pool". It's funny how little people know about more traditional markets but everyone thinks crypto is full of fraud. If you guys did more stock trading you'd know how bad it is. A former chairman of NASDAQ called Bernie Madoff is literally a convicted ponzi scammer.

tome 5y ago
Some of us know that crypto must be full of fraud because there’s so much fraud in traditional markets, despite regulation and oversight that crypto doesn’t have at all.
- trompetenaccoun 5y ago
  For the common wo/man there is more oversight in open ledgers as compared to backdoor deals. You can of course trade on some shady sites registered in the Cayman Islands, or you can use a decentralized exchange where there can't be backdoor deals. In theory crypto would be a regulator's dream, since everything can be automated and remotely audited. However, for the very reason that it would make fraud harder to hide, there are going to be a lot of rich and powerful people against it. Firms like Citadel are happy and comfortable with the status quo.
  - deleted 5y ago
    [deleted]
  - dan-robertson 5y ago
    I don’t think this theory of what financial regulators want matches the things they actually care about or considers that they already have access to the ledgers, or at least most of the important ledgers, even if the public doesn’t. I disagree with your opinion about levels of oversight.
dan-robertson 5y ago
I think this definition of OTC is a bit confused. OTC Markets is a company that runs platforms for trading the stocks that only trade OTC (ie not on public exchanges). It is also true that there are ways to trade other securities OTC (and dark pools are one) but I think the parent commenter was talking about activity in the stocks that only trade OTC. The nomenclature is pretty stupid though.

tome 5y ago

Some of us know that crypto must be full of fraud because there’s so much fraud in traditional markets, despite regulation and oversight that crypto doesn’t have at all.

trompetenaccoun 5y ago
For the common wo/man there is more oversight in open ledgers as compared to backdoor deals. You can of course trade on some shady sites registered in the Cayman Islands, or you can use a decentralized exchange where there can't be backdoor deals. In theory crypto would be a regulator's dream, since everything can be automated and remotely audited. However, for the very reason that it would make fraud harder to hide, there are going to be a lot of rich and powerful people against it. Firms like Citadel are happy and comfortable with the status quo.
- deleted 5y ago
  [deleted]
- dan-robertson 5y ago
  I don’t think this theory of what financial regulators want matches the things they actually care about or considers that they already have access to the ledgers, or at least most of the important ledgers, even if the public doesn’t. I disagree with your opinion about levels of oversight.

dan-robertson 5y ago

I think this definition of OTC is a bit confused. OTC Markets is a company that runs platforms for trading the stocks that only trade OTC (ie not on public exchanges). It is also true that there are ways to trade other securities OTC (and dark pools are one) but I think the parent commenter was talking about activity in the stocks that only trade OTC. The nomenclature is pretty stupid though.