hackingforfun

10 ms·

61.
by hackingforfun 5y ago
It's likely that the upcoming Bitcoin ETF was approved because it is based on Bitcoin futures [1], and since there is already an established regulatory framework for those, under the jurisdiction of the CFTC, it was allowed. The CFTC a
62.
by hackingforfun 5y ago
I agree that consumers should be educated that crypto is highly speculative. However, an accredited investor might just be someone who got rich through inheritance, i.e., not at all through their own doing, so I don't think that accred
63.
by hackingforfun 5y ago
> So how exactly do cryptocurrencies, with their anti-inflation agenda, provide a solution to this issue? The answer is they don’t. In fact, inflation can be a useful tool for redistributing wealth. Inflationary monetary policies are mak
64.
by hackingforfun 5y ago
It looks like a Bitcoin futures ETF is nearing approval and could go live next week [1][2]. My guess is that people are pricing that in. [1] https://www.cnbc.com/2021/10/15/bitcoin-etfs-may-finally-mak... [2
65.
by hackingforfun 5y ago
I don't think that the US dollar is a scam but I think The Fed is struggling to keep it afloat. Also, the ever increasing debt of the US concerns me, as well as all the money printing. I just wonder, where does it end? How does it e
66.
by hackingforfun 5y ago
> The fed IMO deserves a ton of credit for saving the American economy from a massive depression - twice so far since 2008. I'm not sure I agree with this. I think The Fed stepping in after the stock market crashed in March 2020 ga
67.
by hackingforfun 5y ago
I agree and I hope this is the route that they will follow.
68.
by hackingforfun 5y ago
I know who Gary Gensler is and I respect him for the teaching he did at MIT. I'm talking about the staff of the SEC as a whole. In my opinion, they are not moving fast enough or keeping up with technological innovation. I'm jus
69.
by hackingforfun 5y ago
Reference [4] from my comment was about Kik. I think we agree there. Also, FWIW, reference [2] from my comment was about Ripple / XRP, which I figured if any crypto project was a security, they were, since it was linked to a for profi
70.
by hackingforfun 5y ago
It's a good point, and I think I would generally agree with this. I just wish the SEC was keeping up with technological innovation. At this point crypto is moving faster than they can keep up with, so I don't think they can accu
71.
by hackingforfun 5y ago
Is Bitcoin a security? How is something that is decentralized a security? If it was a security, should there be charges against Satoshi Nakamoto, who no one can reliably tie an identity to, and who might even be deceased? Or should the B
72.
by hackingforfun 5y ago
> I believe people should make their own decisions, while the protection offered by the state should come in the form of education and catching bad actors. I agree with this. I think education and prosecuting scam projects are both good
73.
by hackingforfun 5y ago
Yeah, good point. FWIW, I'm not saying Coinbase is right here, and I'm not saying deregulate it all. I do think regulatory clarity in crypto would be good, and possibly we should revise some laws that were made almost a century a
74.
by hackingforfun 5y ago
An accredited investor can bet it all. The assumption that they are a bit more savvy is exactly what I'm talking about.
75.
by hackingforfun 5y ago
I think they are referring to accredited investor laws.
76.
by hackingforfun 5y ago
I would like there to at least be clarity on which basket it falls into, if not a new category.
77.
by hackingforfun 5y ago
> Fwiw, if you are arguing for a review of how existing laws should apply to crypto, I'm fully on board. Yes, I think we are on the same page. I don't think crypto should be, or it is even possible to be, the wild west, indefi
78.
by hackingforfun 5y ago
Have you heard of Robinhood? They say the same thing that I'm saying here. It was one of the main reasons they started their company.
79.
by hackingforfun 5y ago
My point is disclosures are different in stocks vs crypto and we shouldn't just group them all into one category. I'm just wondering, do you think that we should never refine our securities laws for new technology, ever?
80.
by hackingforfun 5y ago
> You're asking to defraud people. I'm asking for people to have choice. > This is not a matter of just 'risk' to you - you are allowed to take on as much risk as you want - you may need to be an accredited investo
81.
by hackingforfun 5y ago
If you miss that some of the laws are literally so the elite can stay in power, and the common folks have restrictions on what they can invest in, then I just can't take the rest of what you say about this subject seriously. FWIW, I al
82.
by hackingforfun 5y ago
Securities laws were about disclosures, right? Since many cryptos are open source, how is that immaterial?
83.
by hackingforfun 5y ago
I can't disagree more. Crypto is a new market that should have a different set of rules, based on new technology, and what is happening now, not in 1933. > Now it should be possible to invest in highly speculative, risky things - s
84.
by hackingforfun 5y ago
Stocks were never open source code. Anyone can research a crypto, online. We don't need a walled garden for them.
85.
by hackingforfun 5y ago
I would like to be able to invest in whatever I want. As an American, I cannot, because US exchanges can't list all the cryptocurrencies that Asian exchanges can, due to fears that the coins / tokens could be flagged as securitie
86.
by hackingforfun 5y ago
Yeah, I do still think Coinbase is the most convenient fiat gateway for US crypto exchanges (not considering their issues with support). FWIW though, after one wire transfer on Gemini they will let you ACH transfer back and forth with the a
87.
by hackingforfun 5y ago
Thanks for sharing this. Looks like Senator John Cornyn and Senator Mitt Romney support the COVID vaccines, too [1]. Good to know. [1] https://www.nytimes.com/2021/07/14/us/politics/gop-covid-vac..
88.
by hackingforfun 5y ago
What you are saying makes sense in a limited context, however, applying it to changing mask guidelines does not make sense to me. I think rationality is also figuring in all the factors, like an evolving pandemic and supply chain issues, bu
89.
by hackingforfun 5y ago
I think you make a good point here that someone can be pro-vaccine while being against a mandate. I hadn't thought of it that way. I don't really see many Republicans going out of their way recommending vaccines though, either.
90.
by hackingforfun 5y ago
That is why I used the word anecdotally. I was responding to a sentence that was also anecdotal.

More ›