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Hard disagree, why can't it exist as a properly regulated security?
by _8j50 3y ago
Hard disagree, why can't it exist as a properly regulated security?
- UncleOxidant 3y agoMy problem with regulating it is that it will give it veneer of legitimacy. Let it all burn down.
- _8j50 3y agoBut why? I feel like for some reason you think betting on the price of orange juice or oil is more legitimate and less scammy. It's a speculative derivative of a virtual commodity/system.
- UncleOxidant 3y agoI think you outlined it right there. Orange juice and oil are actual things. People drink orange juice and burn oil in their cars. "It's a speculative derivative of a virtual commodity/system." Yep
- Eisenstein 3y agoFor what reason? Why is it useful economically to turn computer hashes into a system of collectible numbers that exist on a common list?
- _8j50 3y agoUseful? It's gambling, gambling on whatever system is backing the currency, like the bitcoim blockchain or usefulness of anonymity by monero, USD pegged currencies beinf used to avoid needing dollars for international trade,etc.... or maybe people just like to gamble sometimes. No one accused blackjack of being useful to society.
- Eisenstein 3y agoI would argue that blackjack shouldn't be part of our financial system to the point that it needs regulation.
- _8j50 3y agoBut if people are playing blackjack with their life savings and it has widespread use, why not? Crypto is speculative trading.
- mrguyorama 3y agoI seem to remember a "why not" for exactly that scenario sometime around a hundred years ago...