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Insider Trading at Coinbase

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Re: Insider Trading at Coinbase

#31

Post by carmen_sandiego »

beaconstudios wrote: post #20
elefanten wrote: post #15

Earlier quoted context omitted.

And you think this on what basis? Engagement with the space, or your emotional knee jerk reactions to the occasional headline you read? This comment comes across utterly unserious.

Based on both my observations of the space and interaction with crypto people and the crypto market. I know people who work in crypto too. Your defensive kneejerk reaction doesn't serve as an opposing argument - if you think differently, all you need to do is provide some evidence.

I mean, most legit exchanges are not 'rooted' in scams, even if some of their employees take advantage. The only way you could say Coinbase were 'rooted' in that is to assume your premise: that crypto itself is a scam.

Re: Insider Trading at Coinbase

#32

Post by matwood »

perihelions wrote: post #10

Is this insider trading according to the law? Nonpublic information isn't being used to trade public stocks; it's being used to trade assets that don't appear to be regulated securities.

To add to what you're saying, forex explicitly does not have insider trading rules. The problem is it's treated as a general asset.

It feels like there should already be rules in place to handle if, for example, an Amazon exec went and bought property around an area prior to Amazon announcing their new HQ.

Re: Insider Trading at Coinbase

#33

Post by beaconstudios »

carmen_sandiego wrote: post #31
beaconstudios wrote: post #20

Earlier quoted context omitted.

Based on both my observations of the space and interaction with crypto people and the crypto market. I know people who work in crypto too. Your defensive kneejerk reaction doesn't serve as an opposing argument - if you think differently, all you need to do is provide some evidence.

I mean, most legit exchanges are not 'rooted' in scams, even if some of their employees take advantage. The only way you could say Coinbase were 'rooted' in that is to assume your premise: that crypto itself is a scam.

I don't think most exchanges are rooted in scams no - I'd say they're rooted in a greater fool scheme, given that the main purpose of buying crypto is to sell it for profit and it isn't really used for exchange outside a few niches like darknet markets.

Re: Insider Trading at Coinbase

#34

Post by cool_dude85 »

logicchains wrote: post #16
Drakim wrote: post #8

Earlier quoted context omitted.

Modern society would collapse if insider trading was legal. It would about as well as making bribery legal.

That's absurd. Insider trading makes markets more efficient as the information enters the market earlier, allowing them to reach the correct price sooner. There's no insider trading laws in commodities or real estate, have those markets collapsed?

>There's no insider trading laws in commodities or real estate, have those markets collapsed?

I didn't check, but is this really true? If a mining company executive knows that for whatever reason they will see a 10% drop in yield next quarter, but it's not public knowledge, they can buy futures, no problem? All the execs can get together if there's something going on and invest on that info as long as they're investing in the commodity, not stock?

Re: Insider Trading at Coinbase

#36

Post by carmen_sandiego »

beaconstudios wrote: post #33
carmen_sandiego wrote: post #31

Earlier quoted context omitted.

I mean, most legit exchanges are not 'rooted' in scams, even if some of their employees take advantage. The only way you could say Coinbase were 'rooted' in that is to assume your premise: that crypto itself is a scam.

I don't think most exchanges are rooted in scams no - I'd say they're rooted in a greater fool scheme, given that the main purpose of buying crypto is to sell it for profit and it isn't really used for exchange outside a few niches like darknet markets.

Then I think you are assuming your premise/begging the question. You constructed the conditions in a way that leaves no room for a valid example. If you think crypto itself is a greater fool scheme then purely definitionally there can be no example of a non-greater-fool-rooted crypto business.

Re: Insider Trading at Coinbase

#37

Post by willmw101 »

beaconstudios wrote: post #20
elefanten wrote: post #15

Earlier quoted context omitted.

And you think this on what basis? Engagement with the space, or your emotional knee jerk reactions to the occasional headline you read? This comment comes across utterly unserious.

Based on both my observations of the space and interaction with crypto people and the crypto market. I know people who work in crypto too. Your defensive kneejerk reaction doesn't serve as an opposing argument - if you think differently, all you need to do is provide some evidence.

I'm not sure either of your comments are productive here. You assert that it would be hard to find any crypto business that isn't 'rooted in some kind of scam'. But where's the evidence that coinbase for e.g is 'rooted in a scam, greater fool scheme or ponzi'? There are scammy activities in so much of crypto, but what is pointing to the most visible, normie-facing, publicly traded and regulated American crypto company, being 'rooted' in scamming or ponzi schemes? Because this post suggests a bad actor within or close to the company, or at worst the company knowingly associating with sketchy tokens, rather than the entire company's activities being fundamentally rotten. I know HN likes to be extremely skeptical of crypto, often rightly so, but your comment isn't exactly nuanced.

Re: Insider Trading at Coinbase

#38

Post by rvz »

beaconstudios wrote: post #20
elefanten wrote: post #15

Earlier quoted context omitted.

And you think this on what basis? Engagement with the space, or your emotional knee jerk reactions to the occasional headline you read? This comment comes across utterly unserious.

Based on both my observations of the space and interaction with crypto people and the crypto market. I know people who work in crypto too. Your defensive kneejerk reaction doesn't serve as an opposing argument - if you think differently, all you need to do is provide some evidence.

> find a crypto business that isn't rooted in some kind of scam, greater fool scheme, pyramid scheme, or the like.

> If you think differently, all you need to do is provide some evidence.

So is this product a 'scam' then? [0] [1]

[0] https://skiff.org

Re: Insider Trading at Coinbase

#39

Post by tsimionescu »

soco wrote: post #26
logicchains wrote: post #21

Earlier quoted context omitted.

>The experiment wasn't even necessary - the Gilded Age was a libertarian'paradise with the gold standard and very little government regulation. What do we most associate with this era? Robber barons, utility monopolies screwing people over with ruthless business practices, confidence men and literal snake oil quack medicine. The rate of economic growth and improvement in people's living standards was much higher back…

I don't know what the Gilded Age was (and too lazy to search) but, I quote "Over the past 160 years, life expectancy (from birth) in the United States has risen from 39.4 years in 1860, to 78.9 years in 2020"[1] so please do show some support for the affirmation "the average adult back then was much healthier". Unless you mean they all died healthy around 40 years of age - as in, they were totally healthy until 40 th…

While your point is absolutely true, note that life expectancy shouldn't be taken as the literal age most people die. It is the expected value of your age at death. Just like the expected value of a coin flip being heads is 0.5, but no coin is ever 0.5 heads.

Life expectancy at birth in the times before modern medicine has always been dragged down significantly by the huge rate of infant mortality. It was more common for a family to have 1-2 dead small children in their past than not. People who lived past 5 or 10 or so would often live to see 70 or so, and 80 or 90 year olds were not unheard of.

Re: Insider Trading at Coinbase

#40

Post by [deleted] »

soco wrote: post #26
logicchains wrote: post #21

Earlier quoted context omitted.

>The experiment wasn't even necessary - the Gilded Age was a libertarian'paradise with the gold standard and very little government regulation. What do we most associate with this era? Robber barons, utility monopolies screwing people over with ruthless business practices, confidence men and literal snake oil quack medicine. The rate of economic growth and improvement in people's living standards was much higher back…

I don't know what the Gilded Age was (and too lazy to search) but, I quote "Over the past 160 years, life expectancy (from birth) in the United States has risen from 39.4 years in 1860, to 78.9 years in 2020"[1] so please do show some support for the affirmation "the average adult back then was much healthier". Unless you mean they all died healthy around 40 years of age - as in, they were totally healthy until 40 th…

[deleted]
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