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> It's a fun game to play, just like casinos are fun. In 99.9% of cases nothing of value is behind these protocols. It is a lot of fun until people start becom

by throwaway_1928 4y ago

> It's a fun game to play, just like casinos are fun. In 99.9% of cases nothing of value is behind these protocols. It is a lot of fun until people start becoming homeless and consider ending their life. https://www.reddit.com/r/terraluna/comments/un3w7t/i_lost_over_450k_usd_i_cannot_pay_the_bank_i_will/ https://www.reddit.com/r/terraluna/comments/un3w7t/i_lost_ov...

Supermancho 4y ago
> It is a lot of fun until people start becoming homeless and consider ending their life. It's still fun. People make bad decisions all over the world all the time. The fact you read and dwell on the consequences some people suffer over it is not a problem, for other people, to solve.
- throwaway_1928 4y ago
  > The fact you read and dwell on the consequences some people suffer over it is not a problem, for other people, to solve. Unless those other people are the government. In which case it is their obligation to reasonably check predatory fraudulent activity, including ponzi schemes. And unless those other people are simply concerned citizens who bring dubious schemes to the attention of the public at large.
  - Supermancho 4y ago
    > Unless those other people are the government. > it is their (US government's) obligation to reasonably check predatory fraudulent activity Crypto, by-in-large, is not predatory. Most fraud checks are after the fact. Fraud can be triaged, but there is no getting around the reality that there will always be people who don't value risk properly. Again, this is not a problem for other people to solve. This is not a reason to pretend it's a larger issue that will affect your gambling experience.
    - throwaway_1928 4y ago
      > Crypto, by-in-large, is not predatory. I disagree and believe crypto is by-in-large predatory. The crypto handbook seems to be: 1. create coin 2. promote coin and get people to 'invest' in it 3. move the 'invested' money ("rug pull") into your personal account 4. disappear or do it again > there will always be people who don't value risk properly This is true. But we cannot compare making a wrong call on the direction of highly regulated Microsoft stock with 'investing' our money with people who are almost certainly going to steal all of it with zero consequences. > will affect your gambling experience You call this gambling. But the crypto creators promote their coins as investments with 'exchanges' and so on. Financial investments and gambling are both highly regulated industries but crypto is subject to regulations from neither.
      - Supermancho 4y ago
        > Financial investments and gambling are both highly regulated industries but crypto is subject to regulations from neither. We are not arguing about if there is fraud or not because that is not the issue at hand, nor in dispute. Again, this has nothing to do with the original point. Other people's bad choices do not affect the enjoyment of gambling. GL with whatever.

Supermancho 4y ago

> It is a lot of fun until people start becoming homeless and consider ending their life. It's still fun. People make bad decisions all over the world all the time. The fact you read and dwell on the consequences some people suffer over it is not a problem, for other people, to solve.

throwaway_1928 4y ago
> The fact you read and dwell on the consequences some people suffer over it is not a problem, for other people, to solve. Unless those other people are the government. In which case it is their obligation to reasonably check predatory fraudulent activity, including ponzi schemes. And unless those other people are simply concerned citizens who bring dubious schemes to the attention of the public at large.
- Supermancho 4y ago
  > Unless those other people are the government. > it is their (US government's) obligation to reasonably check predatory fraudulent activity Crypto, by-in-large, is not predatory. Most fraud checks are after the fact. Fraud can be triaged, but there is no getting around the reality that there will always be people who don't value risk properly. Again, this is not a problem for other people to solve. This is not a reason to pretend it's a larger issue that will affect your gambling experience.
  - throwaway_1928 4y ago
    > Crypto, by-in-large, is not predatory. I disagree and believe crypto is by-in-large predatory. The crypto handbook seems to be: 1. create coin 2. promote coin and get people to 'invest' in it 3. move the 'invested' money ("rug pull") into your personal account 4. disappear or do it again > there will always be people who don't value risk properly This is true. But we cannot compare making a wrong call on the direction of highly regulated Microsoft stock with 'investing' our money with people who are almost certainly going to steal all of it with zero consequences. > will affect your gambling experience You call this gambling. But the crypto creators promote their coins as investments with 'exchanges' and so on. Financial investments and gambling are both highly regulated industries but crypto is subject to regulations from neither.
    - Supermancho 4y ago
      > Financial investments and gambling are both highly regulated industries but crypto is subject to regulations from neither. We are not arguing about if there is fraud or not because that is not the issue at hand, nor in dispute. Again, this has nothing to do with the original point. Other people's bad choices do not affect the enjoyment of gambling. GL with whatever.