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When people make money, it's because they're smarter than the average bear, they called it right, they worked hard finding that investment etc. When they lose
by LatteLazy 4y ago
When people make money, it's because they're smarter than the average bear, they called it right, they worked hard finding that investment etc.
When they lose money, it's all a scam, they were cheated, someone fooled them.
I don't know why we, as a society, listen to whining like this. But people lap it up. We should just require a big red disclaimer saying "your money is at risk" and let people do what they want (and I'd do the same for shares and bonds and gold and anything else really).
- ethanbond 4y agoUhhh well that’s exactly what crypto “skeptics” are asking for. Disclosure requirements that bring the risk in line with the accessibility of these “exotic instruments” to the general public, and penalties to compel compliance with those requirements.
- mw888 4y agoIt’s a failure of culture, not legality. All crypto is open source, if it isn’t then it truly doesn’t deserve the title. Apathy on the part of investors to allow so much privilege to founders in the form of token distribution and outright control over the protocol are as unsustainable as they are preventable. The law can come in and add friction to corruption, along with everything else, but it is only by returning to the culture in which crypto was founded that you will get anything of value - regulations or not.
- ethanbond 4y agoWe wouldn’t have any laws at all if cultural self-regulation could be trusted. Or more correctly: laws are a cultural self-regulation mechanism.