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By "wash trading gone wrong", they mean it failed in its objective. The "wrong" here doesn't mean morally wrong, it means "the wrong way to achieve the goal". M
by logicchains 3y ago
By "wash trading gone wrong", they mean it failed in its objective. The "wrong" here doesn't mean morally wrong, it means "the wrong way to achieve the goal". Much as "a code optimisation gone wrong" doesn't mean it was morally wrong, it means it catastrophically failed to achieve its objective.
- haswell 3y agoWash trading is illegal, and "wrong" in both senses here...there's no "right way to achieve the goal" if the goal is wash trading. I think it's trying to go for a snarky/satirical tone, but instead it comes across as highly ambiguous. I think comparing this to code optimization is a category error. It'd be closer to saying "insider trading gone wrong". The opposite of catastrophic failure here is the successful execution of a crime. If they led with "BaseFEX accidentally bankrupts itself with wash trading scheme", the rest of the content might land a bit better. The fact that it's hosted on the blog of an options trading product and the statement that the post is "a solid guide for anyone who knows a bit of coding, and wants to take advantage of shady crypto exchanges" also plays a part in the weirdness of the framing, IMO. Overall, while interesting, it's a mess of a post.
- skinnymuch 3y agoThe person talked about morally wrong. Legality, morality, ethics are not the same. The usage seems correct to me. The objective of wash trading to capitalist success happened well enough but not perfectly.
- haswell 3y agoEverything can be technically correct in a terribly written piece. It’s really all about framing and context. The issue is not really the specific word used. The issue is the overall framing and the ambiguity that the framing introduces. Now imagine the exchange didn’t bankrupt itself and successfully kept these trades under the radar and then went on to become a popular product. Some time later, the government catches wind and begins an investigation. Imagine how odd a story about this would be if framed as: “The dos and don’ts of wash trading”. With content like “do make sure you don’t fall prey to smart Python programmers” and “don’t get caught”. It’d be a lot weirder than “Popular exchange in trouble after the feds discovered evidence of early wash trading”.
- ac2u 3y agoYour side of the argument seems really laboured. It’s like someone posted an article about how a high stakes jewel heist went wrong for the robbers and a bunch of people are having a go saying “well robbery can never go right because it’s wrong”
- haswell 3y agoKey to my side of the argument is the relative obscurity of wash trading vs. a widely recognizable crime like insider trading or robbery. If the content and framing worked for you, great. But we’ll have to agree to disagree about its effectiveness.
- ac2u 3y agoFair. I had heard of wash trading before going in.
- pyrale 3y ago> The person talked about morally wrong. I just used "wrong", not specifically with regards to ethics. Wash trading is also dangerous and illegal.
- hinkley 3y agoThey’re calling fraud ‘faking’. That’s like calling attempted murder ‘an altercation’. The author comes off sounding like a sociopath.