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It's a good thing crypto is a totally unregulated securities market with ultimate freedom, so that these folks won't suffer any consequences for acting on their

It's a good thing crypto is a totally unregulated securities market with ultimate freedom, so that these folks won't suffer any consequences for acting on their insider information, as it should be. /s Sarcasm aside, this is a great example of why a partially regulated market is a good thing.

gdevenyi 3y ago
LBRY and Odysee would like a word.
baz00 3y ago
Market regulation is only a worse idea for the people selling you something.
jsbisviewtiful 3y ago
A former friend of mine dumped his remaining savings into a niche crypto coin. Dude also doesn’t have a 401k. It’s wild how blind and into the crypto propaganda he’s dug himself. The dude’s future is fucked.
- psychlops 3y ago
  Crypto was probably the latest in a long list of ways he squandered money.
- mbar84 3y ago
  It's not as if crypto has a particularly good reputation or the scammy nature of crypto is a secret. I wonder if your former friend has the same kind of personality that just as well would have deluded themselves into thinking they have some amazing insights into horse racing or sports. Without crypto, would they have found some other way to gamble away their future?
  - jsbisviewtiful 3y ago
    > I wonder if your former friend has the same kind of personality that just as well would have deluded themselves into thinking they have some amazing insights into horse racing or sports. I would not be surprised. The arrogance and self-righteousness in his character had gotten pretty out of control.
- pmarreck 3y ago
  It's funny, because when I thought it might actually turn out to be a black swan event and thus a huge investment opportunity back in, oh, 2011-2012 or so, everyone thought I was crazy.* The thing is, you have to be crazy to see it early I guess. If you don't get in at the beginning of these things, you will miss your hockey stick. AND, there has to be a fundamental advantage OTHER THAN hype to carry it forward. *(Don't bother hacking me. There are none left, unfortunately, because I got disgusted by the scamminess of the people entering the market around 2016 or so and I don't like money sitting in things I'm not watching. And I now of course wish I hadn't've bought that Tesla with 2013-era bitcoins... A Tesla that still runs like a top. I've also survived multiple hacking attempts already. So, sellers' remorse, partly. Anyway. I believed in crypto, and survived crypto.)
- g42gregory 3y ago
  How would this be different/worse than going to say Las Vegas and losing all the money? How is this crypto’s fault?
  - llbeansandrice 3y ago
    Vegas isn’t a market. You can’t have insider information to win roulette. It’s not about the possible outcomes but how the game/market actually works.
  - belltaco 3y ago
    Because crypto is still called and considered an investment in many circles, even in news articles, unlike casino gambling.
latchkey 3y ago
I sold all of the MRIN I was holding at $25 thanks to Reddit, and that's a fully regulated market.
yterdy 3y ago
FWIW, insiders regularly get away with dumping regulated securities just before bad news becomes public.
- nativeit 3y ago
  That’s probably because they’re largely appointed (the directors anyway) from a pool of highly conflicted industry insiders who hold little to no intention of fulfilling their public responsibilities.
  - yterdy 3y ago
    They're also not held accountable in any meaningful way by regulators (again, because they're highly conflicted). Bernie Madoff was the exception; most don't even get the Martha Stewart treatment, even after causing orders of magnitude more damage.
SuperNinKenDo 3y ago
Ah yes, insider trading, something that only ever occurs in unregulated markets.
- jedberg 3y ago
  I think you missed the point.
  - SuperNinKenDo 3y ago
    What point do you believe I missed based on my comment?
SoftTalker 3y ago
Regulation just moves where the corruption happens. I’m being a bit sarcastic but not completely.
deleted 3y ago
[deleted]

gdevenyi 3y ago

LBRY and Odysee would like a word.

baz00 3y ago

Market regulation is only a worse idea for the people selling you something.

jsbisviewtiful 3y ago

A former friend of mine dumped his remaining savings into a niche crypto coin. Dude also doesn’t have a 401k. It’s wild how blind and into the crypto propaganda he’s dug himself. The dude’s future is fucked.

psychlops 3y ago
Crypto was probably the latest in a long list of ways he squandered money.
mbar84 3y ago
It's not as if crypto has a particularly good reputation or the scammy nature of crypto is a secret. I wonder if your former friend has the same kind of personality that just as well would have deluded themselves into thinking they have some amazing insights into horse racing or sports. Without crypto, would they have found some other way to gamble away their future?
- jsbisviewtiful 3y ago
  > I wonder if your former friend has the same kind of personality that just as well would have deluded themselves into thinking they have some amazing insights into horse racing or sports. I would not be surprised. The arrogance and self-righteousness in his character had gotten pretty out of control.
pmarreck 3y ago
It's funny, because when I thought it might actually turn out to be a black swan event and thus a huge investment opportunity back in, oh, 2011-2012 or so, everyone thought I was crazy.* The thing is, you have to be crazy to see it early I guess. If you don't get in at the beginning of these things, you will miss your hockey stick. AND, there has to be a fundamental advantage OTHER THAN hype to carry it forward. *(Don't bother hacking me. There are none left, unfortunately, because I got disgusted by the scamminess of the people entering the market around 2016 or so and I don't like money sitting in things I'm not watching. And I now of course wish I hadn't've bought that Tesla with 2013-era bitcoins... A Tesla that still runs like a top. I've also survived multiple hacking attempts already. So, sellers' remorse, partly. Anyway. I believed in crypto, and survived crypto.)
g42gregory 3y ago
How would this be different/worse than going to say Las Vegas and losing all the money? How is this crypto’s fault?
- llbeansandrice 3y ago
  Vegas isn’t a market. You can’t have insider information to win roulette. It’s not about the possible outcomes but how the game/market actually works.
- belltaco 3y ago
  Because crypto is still called and considered an investment in many circles, even in news articles, unlike casino gambling.

latchkey 3y ago

I sold all of the MRIN I was holding at $25 thanks to Reddit, and that's a fully regulated market.

yterdy 3y ago

FWIW, insiders regularly get away with dumping regulated securities just before bad news becomes public.

nativeit 3y ago
That’s probably because they’re largely appointed (the directors anyway) from a pool of highly conflicted industry insiders who hold little to no intention of fulfilling their public responsibilities.
- yterdy 3y ago
  They're also not held accountable in any meaningful way by regulators (again, because they're highly conflicted). Bernie Madoff was the exception; most don't even get the Martha Stewart treatment, even after causing orders of magnitude more damage.

SuperNinKenDo 3y ago

Ah yes, insider trading, something that only ever occurs in unregulated markets.

jedberg 3y ago
I think you missed the point.
- SuperNinKenDo 3y ago
  What point do you believe I missed based on my comment?

SoftTalker 3y ago

Regulation just moves where the corruption happens. I’m being a bit sarcastic but not completely.

deleted 3y ago

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