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I think there's some % chance that this collapse will hit outside the crypto world. I'm not going to be shocked when we find out through some stupid chain pens

I think there's some % chance that this collapse will hit outside the crypto world. I'm not going to be shocked when we find out through some stupid chain pensions were invested and the like. Could wind up with major governmental oversight moving forward, basically making damn sure it's barely ever adopted. Everyone always talks about "satoshi's vision" and what not, but crypto isn't going to be worth shit if you are forced to make trades in black market scenarios because it shit the bed so bad it took down serious stuff with it. Granted this is probably worst case which i'd put at very low odds.

anonymoushn 4y ago
We recently got to hear that some Canadian pensions had invested in Celsius, but not very much.
bb88 4y ago
> Could wind up with major governmental oversight moving forward, basically making damn sure it's barely ever adopted. I'm basically of two minds about this. One is that as long as people understand they're buying nothing of real value, it's fine if they want to "gamble". It's like a lottery ticket in this regard. The other is if or perhaps when taxpayers will need to bail out crypto companies. At this point, I'll be extremely angry, and want the strictest government regulation possible.
- rurp 4y ago
  I think it's best to let people make their own decisions wherever possible. Of course with pensions the people with exposure aren't the same ones making investing choices. I would be fine with regulation that just bans those sorts of vehicles from investing in crypto. That way individuals can speculate with their money, while being guarded against more systemic and indirect risks.
  - bb88 4y ago
    > I think it's best to let people make their own decisions wherever possible. Of course with pensions the people with exposure aren't the same ones making investing choices. If pensions were involved the people who decided that pensions should be invested in crypto should be prosecuted. > I would be fine with regulation that just bans those sorts of vehicles from investing in crypto. I would be fine with regulation that banned people from investing in something that has no value.
    - int_19h 4y ago
      Value is subjective, so who decides?
octodog 4y ago
It doesn't seem like the linkage between traditional finance and crypto finance is that strong yet. If it ever got to that point I think we'd more likely see prudential authorities restrict traditional finance actors from investing in crypto rather than governments banning crypto outright.

anonymoushn 4y ago

We recently got to hear that some Canadian pensions had invested in Celsius, but not very much.

bb88 4y ago

> Could wind up with major governmental oversight moving forward, basically making damn sure it's barely ever adopted. I'm basically of two minds about this. One is that as long as people understand they're buying nothing of real value, it's fine if they want to "gamble". It's like a lottery ticket in this regard. The other is if or perhaps when taxpayers will need to bail out crypto companies. At this point, I'll be extremely angry, and want the strictest government regulation possible.

rurp 4y ago
I think it's best to let people make their own decisions wherever possible. Of course with pensions the people with exposure aren't the same ones making investing choices. I would be fine with regulation that just bans those sorts of vehicles from investing in crypto. That way individuals can speculate with their money, while being guarded against more systemic and indirect risks.
- bb88 4y ago
  > I think it's best to let people make their own decisions wherever possible. Of course with pensions the people with exposure aren't the same ones making investing choices. If pensions were involved the people who decided that pensions should be invested in crypto should be prosecuted. > I would be fine with regulation that just bans those sorts of vehicles from investing in crypto. I would be fine with regulation that banned people from investing in something that has no value.
  - int_19h 4y ago
    Value is subjective, so who decides?

octodog 4y ago

It doesn't seem like the linkage between traditional finance and crypto finance is that strong yet. If it ever got to that point I think we'd more likely see prudential authorities restrict traditional finance actors from investing in crypto rather than governments banning crypto outright.