121–130 of 386 posts
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I'm not saying ICO's are scams, but do you think scamming should be legal?
I believe in freedom of association, I also believe that the market is driven by reputation, therefor bad actors (in this case scammers) cannot thrive (see how bad vendors get eliminated by the market on ebay or amazon without government help, just bad reputation).
A lot of people seem to suggest that some kind of regulation, or even outright ban, of ICOs is necessary. Apparently in order to prevent people from loosing their money on risky investments? I don't really understand why it is appropriate for someone else to tell me how to spend my hard earned money? Isn't that what freedom of choice is about? Even if I'm being manipulated into a scam, it is still MY choice. Let peop…
They don't ban you from spending your money. They ban companies from receiving your money. Companies that are malignant and consumers should be protected from. This is not a new concept. The same regulations apply if you start telling your friends that you're smart and that they should let you manage their money for them.
u mean like a 'friends and family' investment round? ;)
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I'm basing it on this: http://www.computerweekly.com/news/450400615/Digital-only-At... >The bank was the brainchild of Anthony Thomson, who set up Metro Bank in 2009, which was the first new banking organisation to open in the UK since the end of the 19th century. >In April 2016, Atom launched its banking app after regulators lifted a restriction on its authorisation.
The BoE lists all registered banks and building societies at: http://www.bankofengland.co.uk/pra/Pages/authorisations/bank... - FWIW, it includes Tesco Bank there. Perhaps Computer Weekly is not the best source of this information? Anyway, there's well over a hundred banks listed, and around forty building societies, so there's hardly a lack of competition.
When the coalition came in, one of Osborne's first acts was to push the banking regulators to issue more banking licenses, due to that 100 year+ stagnation. Since the coalition, there have been a variety of new licenses issued, so the problem is now resolved.
Earlier quoted context omitted.
I'm not saying ICO's are scams, but do you think scamming should be legal?
I believe in freedom of association, I also believe that the market is driven by reputation, therefor bad actors (in this case scammers) cannot thrive (see how bad vendors get eliminated by the market on ebay or amazon without government help, just bad reputation).
Earlier quoted context omitted.
There are a couple of digital banks like Monzo. Atom, Tandem, Starling and more (there's another one for digital nomads, I don't remember their name). Then there are also other banks like Tesco/Sainsbury's which are definitely not 100 years old. More like started in 90s (but perhaps these reused some old banking licenses from other banks so don't count as "new"). Especially lately there has been a boom in fintech and…
I think Tesco, Sainsbury's etc are just resellers of banking services. Actual banking licenses are the thing there have been none of for 100 years iirc, I don't think GP comment just pulled that assertion out of thin air.
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>It's pretty useless, you can google it and see how had a lot of hype, but in real case uses, it's useless (example: yes you can open a company remotely, but if you don't live in estonia, is a mess with taxes... Pheew, I thought I was the only one with this opinion, given the hype there is about this thing all over the net. To me the whole stuff seems a lot like the plans of the gnomes in South Park (but in five step…
You definitely aren't the only one with that opinion. If you've visited the card's homepage or tried to register for one, you'll have realized it confers almost no privileges.
https://medium.com/e-residency-blog/estonia-could-offer-estc...
Previous (few) comments on HN:
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Better to force them to save a minority of their income than start micromanaging their entire spending with laws banning this or that spending.
I'm really not sure I see a difference, if you're going to start from the absolutist position that the state needs to butt out. Either way, bans or forcing provision for retirement etc, you're taking the position that someone else does know best, and that they need protecting from their own spending behaviour. After that it's just a matter of degree.
But of course I don't accept their underlying argument at all. Just making the point that even if one did, their solution is not optimal.
Finally somebody in position of power stepped in to stop this mad online casino. I was not expecting this sensible move from China, was hoping EU or US would lead the way on regulating this crypto fraud. I hope Fed/ECB follow the Chinese Central Bank and ban ICOs too and start regulating crypto and enforcing some basic rules.
Then I remembered how it felt in 2000 where all you needed was a website for pet food and folks would throw money at you.
I worked for my money, I paid huge amounts of taxes on them. Why is it ok for somebody to come and tell me what I can and can't do with them, and then telling me it's in my best interest to not be allowed to invest them.
Earlier quoted context omitted.
There are a couple of digital banks like Monzo. Atom, Tandem, Starling and more (there's another one for digital nomads, I don't remember their name). Then there are also other banks like Tesco/Sainsbury's which are definitely not 100 years old. More like started in 90s (but perhaps these reused some old banking licenses from other banks so don't count as "new"). Especially lately there has been a boom in fintech and…
I think Tesco, Sainsbury's etc are just resellers of banking services. Actual banking licenses are the thing there have been none of for 100 years iirc, I don't think GP comment just pulled that assertion out of thin air.
So that claim might have been true few years ago before fintech boom started. Lots of new digital banks already got or are in process of getting banking license.
Banking industry in U.K. is getting shaken up currently, lots of fintech challengers.