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I haven't. But it's not fair or sensible for Bitcoin-related companies to get a free pass (when they present higher levels of risk) while other companies that a

I haven't. But it's not fair or sensible for Bitcoin-related companies to get a free pass (when they present higher levels of risk) while other companies that aren't similarly risky get normal levels of scrutiny.

mycroft-holmes 13y ago
You're assuming a false dichotomy here though. The question you should be asking yourself is whether companies should be under such scrutiny in the first place, not whether they should be treated like everyone else.
- smtddr 13y ago
  Whoa there! I'm a supporter of bitcoin and I got some funds in it... but I __definitely don't want__ etrade.com to be free of regulations the way bitcoin exchanges currently are!!!! I'm prepared to lose my bitcoin funds at any moment. Losing my funds in etrade would wreck me. I understand stocks can be risky, but most of my funds are in very low risk stock like SPY and AGG. Barring an economic disaster(2008 mortgages), I don't want those funds at risk for random theft or scams. The only thing I think I want from bitcoin exchanges is to be FDIC insured. But I'm sure to get that requires all kinds of regulations to be followed undermining whatever bitcoin is trying to accomplish.
Symmetry 13y ago
It's important that the corner bank be under scrutiny because everybody knows you're supposed to put your money in a bank, and you get a lot of very unsophisticated people wandering in. There's nothing wrong with financially risky things existing so long as there isn't a substantial problem with random people thinking that they're less secure than they are. And besides, penny stocks are just as risky as bitcoins but it's still legal for normal people to invest in them. This may all change if crypto-currencies take off the way their supporters dream, but as long as most people's experience with them is hearing about MtGox's implosion on the news more regulation probably isn't needed. I'm happy that the US is insuring my savings account and regulating the bank that holds it, but I'm glad I could risk my money on bitcoin if I chose.
- AndrewBissell 13y ago
  > It's important that the corner bank be under scrutiny because everybody knows you're supposed to put your money in a bank There's actually a certain chicken-and-egg aspect to this, where "everybody knows to put your money in a bank," and is unsophisticated (i.e. uneducated) about banking, because the government promises to bail you out if the bank loses your money. It's really not hard to get a sense of a bank's safety from a combination of the interest rates it pays (high rates are a danger signal) and third-party services like Weiss Ratings. No one bothers though, because why even care whether your bank is safe or not?

mycroft-holmes 13y ago

You're assuming a false dichotomy here though. The question you should be asking yourself is whether companies should be under such scrutiny in the first place, not whether they should be treated like everyone else.

smtddr 13y ago
Whoa there! I'm a supporter of bitcoin and I got some funds in it... but I __definitely don't want__ etrade.com to be free of regulations the way bitcoin exchanges currently are!!!! I'm prepared to lose my bitcoin funds at any moment. Losing my funds in etrade would wreck me. I understand stocks can be risky, but most of my funds are in very low risk stock like SPY and AGG. Barring an economic disaster(2008 mortgages), I don't want those funds at risk for random theft or scams. The only thing I think I want from bitcoin exchanges is to be FDIC insured. But I'm sure to get that requires all kinds of regulations to be followed undermining whatever bitcoin is trying to accomplish.

Symmetry 13y ago

It's important that the corner bank be under scrutiny because everybody knows you're supposed to put your money in a bank, and you get a lot of very unsophisticated people wandering in. There's nothing wrong with financially risky things existing so long as there isn't a substantial problem with random people thinking that they're less secure than they are. And besides, penny stocks are just as risky as bitcoins but it's still legal for normal people to invest in them. This may all change if crypto-currencies take off the way their supporters dream, but as long as most people's experience with them is hearing about MtGox's implosion on the news more regulation probably isn't needed. I'm happy that the US is insuring my savings account and regulating the bank that holds it, but I'm glad I could risk my money on bitcoin if I chose.

AndrewBissell 13y ago
> It's important that the corner bank be under scrutiny because everybody knows you're supposed to put your money in a bank There's actually a certain chicken-and-egg aspect to this, where "everybody knows to put your money in a bank," and is unsophisticated (i.e. uneducated) about banking, because the government promises to bail you out if the bank loses your money. It's really not hard to get a sense of a bank's safety from a combination of the interest rates it pays (high rates are a danger signal) and third-party services like Weiss Ratings. No one bothers though, because why even care whether your bank is safe or not?