231–240 of 348 posts
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Jan 3rd is Proof-of-Reserves day, and all of the larger actors have ignored it for far too long. I believe Kraken has committed to it now, which is great. Also: obligatory "not your keys, not your coins" and "don't keep your coins on an exchange".
Kraken is the least shitty of the actors in the space.
Crypto fans want deregulated finance. Crypto fans get mad when deregulated finance is comically unfair. You really can’t make this up. Embrace this. It’s exactly what crypto is all about.
Im not close to being alone on this. I don’t know anyone in my life who is a “crypto fan” and doesn’t think rules should exist around exchanges.
It’s easy to fight the boogeyman and the HN boogeyman is one of the silliest ones I have seen.
Crypto fans want deregulated finance. Crypto fans get mad when deregulated finance is comically unfair. You really can’t make this up. Embrace this. It’s exactly what crypto is all about.
What does this even mean? I’m a crypto fan but I dont want to deregulate finance completely. So maybe i’m not a crypto fan. Or maybe the crypto fan online isn’t really representative of reality like most online communities that are largely based off what reddit is spouting. Im not close to being alone on this. I don’t know anyone in my life who is a “crypto fan” and doesn’t think rules should exist around exchanges.…
There certainly are some extreme libertarians that think nothing in the financial world should be illegal and that the Free Market(tm) will sort everything out on its own. To them, insider trading isn't unethical, quite the opposite. People should be using every advantage at their disposal. To them, getting a job at Coinbase to get the inside scoop on upcoming coin listings would be a genius move.
Crypto fans want deregulated finance. Crypto fans get mad when deregulated finance is comically unfair. You really can’t make this up. Embrace this. It’s exactly what crypto is all about.
I’d prefer Coinbase insider trading over Nancy Pelosi insider trading. So this isn’t the end of the world. There’s no universe where there’s no insider trading and you’re asking me to switch the Coinbase situation for the Pelosi situation. And I prefer the Coinbase situation. So I can accept the lesser of two evils and kick up a fuss when I don’t like it. After all, if switching to regulated finance is what you recom…
Why is the SEC so slow to regulate cryptoassets? Literally everything that they combatted for stocks and traditional assets is now taking place in the crypto ecosystem.
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Who determines what qualifies as “unsophisticated”. This is where the overzealousness creeps in. Regulators always push for more regulations.
I work in fintech. I'm not sure what bank regulations you think are overzealous. To give an example, banks can legally keep you from accessing your data. Whether by blocking your screen scraping or providing an API with poor coverage. You understand I imagine that the regulations don't use the word "unsophisticated" and as such it's a red herring. We have these (few) regulations because banks and their consumers are…
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This is a strawman. It also paints “crypto fans”, as some monolithic group that all think the same way. I am a crypto fan and do not “want deregulated finance”. It is not “exactly what crypto is all about”. I think most in the space would actually like to see more sensible regulation.
> It also paints “crypto fans”, as some monolithic group that all think the same way. This is unfortunate. However, in my experience of crypto fans it seems like a large - probably very large - majority of them are fans of deregulation and consider this one of the main positive points of crypto. Would you say that's incorrect?
Even Cobie's tweet is absent any specific stance, and features a funny gif of Nancy Pelosi who is also a beneficiary of some really awesome trades.
Many people are fine just watching addresses and filings and copying their trades. Now we know one address that loads up before Coinbase announces.
Crypto fans want deregulated finance. Crypto fans get mad when deregulated finance is comically unfair. You really can’t make this up. Embrace this. It’s exactly what crypto is all about.
We want deregulation when it comes to our money. We want the ability to transact with absolute unconditional freedom and privacy. These exchanges? Hell yes, go ahead and regulate the crap out of them. They are not our friends. They're banks. The biggest failure of crypto is the need for exchanges. We were supposed to mine our own coins and use them in everyday transactions.
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.
equities (and some slight case law in the bond markets) have insider trading prohibitions attached, and futures have some newer anti fraud statutes tacked on to them by a different regulatory agency.
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>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…
So we can ignore that cancer used to be a guaranteed death sentence, polio was a thing, children got rickets, a septic wound could kill you, an ulcer wasn't a course of pills to get rid of, tuberculosis was rife. The gilded age was no paradise and rose tinted views of the era just don't hold up to scrutiny.