4 ms·
I wonder where cryptocurrency will end up. Eventually people will want entities like FDIC to step in and soften the blow. If Celsius auctioned its assets would
by DSingularity 4y ago
I wonder where cryptocurrency will end up. Eventually people will want entities like FDIC to step in and soften the blow. If Celsius auctioned its assets would we be where we are?
- nradov 4y agoI certainly don't want the federal government to get involved in providing insurance to cryptocurrency "investors". It would be a total waste of resources. Let them take some hard blows. If they lose all of their money that's a totally acceptable outcome.
- kerblang 4y agoTrue but I think the crypto companies should be able to buy the same insurance as gambling casinos, since... they are gambling casinos
- jaywalk 4y agoCrypto companies are more like the gamblers than the casinos. And nobody is going to give a gambler insurance against losses at a casino.
- dmurray 4y ago"Insurance" in blackjack is a reasonably popular bet, and gives the house more edge than the regular game. Some people hedge their cryptocurrency portfolios with put options, which is a form of insurance. You can package almost any financial instrument and sell it to someone. Perhaps you mean the state shouldn't subsidise gamblers with free insurance - I think most people would agree with that.
- jaywalk 4y agoInsurance in Blackjack is a losing bet for the player, and nobody with even beginner-level experience takes it. I'm not sure how anybody can insure against something like Celsius. The "investments" just went poof.