Fake Tesla, Apple stocks have started trading on blockchains

Post by as_i_fall » Wed, Jul 07, 2021, 1:55 AM UTC

from wrote: post #78

arcticbull wrote: post #73

Earlier quoted context omitted.

There's a reason they got sanctioned, though, right? Broadly, attempting to develop nuclear warheads in unstable regions. So yeah, I'm ok with sanctioned people not trading TSLA to pressure the regime. Frankly, I can't think of a reason why that would be ok.

The sanctions affect everyone in Iran. The elites and people actually involved in the nuclear program in Iran have access to dollars/western markets via smuggling networks and other underground efforts (see https://en.wikipedia.org/wiki/Reza_Zarrab , https://www.justice.gov/opa/pr/two-us-citizens-one-pakistani... , NIOC and ship-to-ship transfers, etc). The result is that unconnected people suffer and the elites cont…

Post by [deleted] » Wed, Jul 07, 2021, 1:59 AM UTC

elevenoh wrote: post #75

arcticbull wrote: post #72

Earlier quoted context omitted.

Bitcoin is the world's least efficient blockchain, so how is it the largest? I suspect people flock to the number-go-uppest blockchain.

There's a lot involved in market dynamics - BTC or otherwise :)

Post by tylersmith » Wed, Jul 07, 2021, 2:02 AM UTC

delusional wrote: post #26

How does this make sense? If they don't hold the underlying security, where does the value come from? This feel like it's another one of those "while money is flowing in it'll work, but if there's a run, it crashes spectacularly". If the liquidity dries up, i end up owning nothing. With a real security at least i end up owning a small part of apple, but here i literally own nothing.

Post by rank0 » Wed, Jul 07, 2021, 2:05 AM UTC

meowkit wrote: post #105

rank0 wrote: post #96

Earlier quoted context omitted.

What do you mean? There are absolutely currency exchanges and lenders in the current financial system.

Either you’re being intentionally obtuse or don’t know what Uniswap is. Decentralized, automatic trading that can route liquidity for direct asset swapping does not exist in traditional finance for retail investors.

Post by beambot » Wed, Jul 07, 2021, 2:07 AM UTC

as_i_fall wrote: post #117

anm89 wrote: post #90

Fake seems like a strange choice of words here. These things arent attempting to deceive anyone into believing they are the real thing. They clearly label themselves as derivatives. We don't call corn futures fake corn, we don't call derivatives of other types fake those things and we shouldn't call these fake stocks. I'm really not defending or not defending whatever these platforms are. I wouldn't be surprised if t…

Are these assets backed by legally binding contracts? If the answer is no it doesn't seem like a stretch. If I sold you a stock in my company that gave you none of the traditional shareholder rights I'd also call those shares "fake", which seems to be what's going on here.