Fake Tesla, Apple stocks have started trading on blockchains

Post by sjtindell » Wed, Jul 07, 2021, 12:00 AM UTC

tablespoon wrote: post #66

aewct wrote: post #60

Earlier quoted context omitted.

From TFA: > Users can trade the tokens anonymously 24 hours a day, seven days a week, from anywhere, unhindered by capital controls, “know your client” rules imposed on broker-dealers, and other frictions of the traditional financial system. These are certainly new innovations and features, be they good or bad.

>> Users can trade the tokens anonymously 24 hours a day, seven days a week, from anywhere, unhindered by capital controls, “know your client” rules imposed on broker-dealers, and other frictions of the traditional financial system. > These are certainly new innovations and features, be they good or bad. That's saying a car with its seat belts removed has an "innovative new feature." The usual word for that situation…

Post by logicalmonster » Wed, Jul 07, 2021, 12:41 AM UTC

nradov wrote: post #71

logicalmonster wrote: post #32

Earlier quoted context omitted.

> Wildcat banking increased incentives for risk-taking and fraud to high levels. The evidence points out that it’s the current banking system that incentivizes risk taking because the international bankers know they’re getting a bailout every time when they mess up. > The US has huge financial industry partly because the regulation is so extensive. People from all over the world invest their money in the US because t…

There's no need to use blockchain technology for stock trading. The current centralized clearinghouse system works fine and is highly scalable. It also allows for transactions to be unwound in the case of mistakes or system failures. No one cares if a handful of retail investors lost money on foolish GameStop trades.

Post by X6S1x6Okd1st » Wed, Jul 07, 2021, 12:51 AM UTC

yawaworht1978 wrote: post #17

Looks like cryptocurrencies are not very innovative. They keep reinstalling all the features that have been there and improved in the regular markets. Tether and stablecoins mimicking the USD, now this stuff mimicking stocks, how are the not getting in trouble with government institutions or Apple? What are the loopholes? No existing laws yet? Or they operate and reside in far away jurisdictions?

Post by [deleted] » Wed, Jul 07, 2021, 12:53 AM UTC

sjtindell wrote: post #81

tablespoon wrote: post #66

Earlier quoted context omitted.

>> Users can trade the tokens anonymously 24 hours a day, seven days a week, from anywhere, unhindered by capital controls, “know your client” rules imposed on broker-dealers, and other frictions of the traditional financial system. > These are certainly new innovations and features, be they good or bad. That's saying a car with its seat belts removed has an "innovative new feature." The usual word for that situation…

Would you have said the same when we moved from measuring stock prices in increments of dubloons to decimals? Where does all this HN hostility come from, I thought this crypto stuff would mesh so well with the Silicon Valley mindset. Trading should be instant, totally free, in any increment you choose, across borders! That’s the kind of mentality we apply to so much else in tech right? Is this really a bunch of hacke…

Post by arcticbull » Wed, Jul 07, 2021, 12:56 AM UTC

yellow_lead wrote: post #84

arcticbull wrote: post #14

Earlier quoted context omitted.

This isn't about Mark Cuban's losses per se, I also have no issue with him (an accredited investor) getting bilked for some change between the couch cushions - the issue is even if an incredibly sophisticated investor like Mark could fall for such a rug-pull/failure then how can we possibly expect unsophisticated investors not to get bamboozled? Remember, those who wash out of trading end up beneficiaries of the stat…

Do you mean he's sophisticated in the general usage of the word or in the financial usage? The financial version tends to mean "has a lot of money."