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Worries Grow That the Price of Bitcoin Is Being Propped Up

nytimes.com

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Re: Worries Grow That the Price of Bitcoin Is Being Propped Up

#321

Post by Daishiman »

conanbatt wrote: post #300
Daishiman wrote: post #290

Earlier quoted context omitted.

History has shown that in certain matter people will, over and over again, commit systemically wrong choices. So no, in some things we're all in this ship together and as long as that's the case I want people to not collectively fuck things up.

Thats what you want. Why do you feel entitled to make other people do what you want?

Because people can make choices collectively and that affects all of us.

No man is an island. If people choose to engage in activities that end up affecting negatively the rest of us through externalities such as pollution, corruption, and the destruction of economic value, sorry, but historically people don't just stand by idly and let others destroy the societies they've built.

Re: Worries Grow That the Price of Bitcoin Is Being Propped Up

#322

Post by Slansitartop »

conanbatt wrote: post #287
Slansitartop wrote: post #282

Earlier quoted context omitted.

> Tell that to all the people doing 25+y for doing or dealing pot. They must agree with you! > I'm no expert on arms dealing but isnt the US Gov the one that gives out the most weapons to radicals? I thought the US as a successful exporter of weapons..and certainly of violence! I feel like you're just going for cheap points, but the thing is you don't even get those if you can't stay on topic. It's kinda pointless to…

I didnt bring guns and arms dealing into the debate, that was you. I mentioned the war on drugs as an example of old laws that would not be voted on today, and the argument of keeping them because they must be good is destroying lives today. The SEC is killing people today as well. Its barring most of the world on investing in the US on startups that could lift people out of poverty, increase quality of life and even…

> I mentioned the war on drugs as an example of old laws that would not be voted on today, and the argument of keeping them because they must be good is destroying lives today.

You're arguing with a straw man of your own design.

> The SEC is killing people today as well. Its barring most of the world on investing in the US on startups that could lift people out of poverty

Jesus, that's the most ridiculous, hyperbolic thing I've read this month.

Re: Worries Grow That the Price of Bitcoin Is Being Propped Up

#323

Post by Slansitartop »

hndamien wrote: post #298
Slansitartop wrote: post #248

Earlier quoted context omitted.

>> You could say that humanity has repeatedly and organically come to a solution broadly known as government and regulation. > Worked great in 2008. Wasn't 2008 at least partially the result of having banking regulations withdrawn/weakened over the prior decades? If so, isn't it pretty bogus and misleading judge the effectiveness of financial regulation from that event? It's like saying airbags don't help in a crashe…

You still had a system that decided removing airbags was a good idea. Then, when getting smacked in the face, doing nothing to the people involved in removing the airbags or causing the face smacking.

That doesn't really reflect on the suitability or effectiveness of regulation to address the problem. Greedy, ignorant people who failed to study and learn from the past can be the decision-makers, too.

Re: Worries Grow That the Price of Bitcoin Is Being Propped Up

#324

Post by devopsforlyfe »

olodus wrote: post #150
Cthulhu_ wrote: post #37

Earlier quoted context omitted.

Yeah, it's a bit of a trope like "worked at NASA" (atm over 17.000 people work at NASA). "Worked at" means nothing; show us some achievements.

I cleaned those NASA-toilets super clean, good sir, so I find no reason why you shouldn't trust me on my knowledge about aerodynamics!

Knowledge of fluid dynamics, on the other hand... :-)

Re: Worries Grow That the Price of Bitcoin Is Being Propped Up

#325

Post by conanbatt »

Slansitartop wrote: post #322
conanbatt wrote: post #287

Earlier quoted context omitted.

I didnt bring guns and arms dealing into the debate, that was you. I mentioned the war on drugs as an example of old laws that would not be voted on today, and the argument of keeping them because they must be good is destroying lives today. The SEC is killing people today as well. Its barring most of the world on investing in the US on startups that could lift people out of poverty, increase quality of life and even…

> I mentioned the war on drugs as an example of old laws that would not be voted on today, and the argument of keeping them because they must be good is destroying lives today. You're arguing with a straw man of your own design. > The SEC is killing people today as well. Its barring most of the world on investing in the US on startups that could lift people out of poverty Jesus, that's the most ridiculous, hyperbolic…

> Jesus, that's the most ridiculous, hyperbolic thing I've read this month.

Its basic microeconomics. You will learn a lot of read about it!

Re: Worries Grow That the Price of Bitcoin Is Being Propped Up

#326

Post by Slansitartop »

conanbatt wrote: post #325
Slansitartop wrote: post #322

Earlier quoted context omitted.

> I mentioned the war on drugs as an example of old laws that would not be voted on today, and the argument of keeping them because they must be good is destroying lives today. You're arguing with a straw man of your own design. > The SEC is killing people today as well. Its barring most of the world on investing in the US on startups that could lift people out of poverty Jesus, that's the most ridiculous, hyperbolic…

> Jesus, that's the most ridiculous, hyperbolic thing I've read this month. Its basic microeconomics. You will learn a lot of read about it!

> Its basic microeconomics....!

Ah, that explains it. You know just enough to be dangerous.

Re: Worries Grow That the Price of Bitcoin Is Being Propped Up

#327

Post by conanbatt »

kadenshep wrote: post #316
conanbatt wrote: post #300

Earlier quoted context omitted.

Thats what you want. Why do you feel entitled to make other people do what you want?

The only thing that makes him entitled is learning from history and being able to reason about pretty elementary models in his head. Why do people with your types of opinion always make it wholly personal, just to try to weasel their way around a subject? Like, here's another comment you made: >I like to compare Bitcoin to Land. Just stop. There is so much fundamentally wrong with that analogy at face value it beggar…

> The only thing that makes him entitled is learning from history and being able to reason about pretty elementary models in his head.

That is his opinion, and even if it were factually true it doesnt give him the entitlement to prevent other people from doing it. If he believes the SEC provides value he can go to SEC regulated places, and let the ones that don't just be.

Today, the SEC regulates the startups right here, depressing wages of workers, reducing founder's returns, increasing investor returns and reducing overall market size. That is an economical fact. The steam of that oppression is coming out in crypto, where millions of people worldwide have a chance to 'invest' or speculate in something they are otherwise barred from doing. Barred by institutions like the SEC.

Crypto in spirit and technology is a way to get around those involuntary and foreign restrictions.

> Just stop. There is so much fundamentally wrong with that analogy at face value it beggars belief that you are being sincere.

I've made my case about it. You don't have to agree with it, and I dont have to agree with you. Do you want to call someone else into this to make sure neither you nor I say the wrong thing at punishment of fines and jail?

Re: Worries Grow That the Price of Bitcoin Is Being Propped Up

#328

Post by conanbatt »

Daishiman wrote: post #321
conanbatt wrote: post #300

Earlier quoted context omitted.

Thats what you want. Why do you feel entitled to make other people do what you want?

Because people can make choices collectively and that affects all of us. No man is an island. If people choose to engage in activities that end up affecting negatively the rest of us through externalities such as pollution, corruption, and the destruction of economic value, sorry, but historically people don't just stand by idly and let others destroy the societies they've built.

How is people buying tether and getting screwed related to you? What is the externality they are imposing on you?

Also even if that were true, it would show something else: the entitlement of doing something unto others to your own benefit. Isnt that always the reason to apply force?

Re: Worries Grow That the Price of Bitcoin Is Being Propped Up

#329

Post by conanbatt »

simias wrote: post #315
conanbatt wrote: post #300

Earlier quoted context omitted.

Thats what you want. Why do you feel entitled to make other people do what you want?

Why do you think seat belts are mandatory? Apply the same reasoning to your question.

For the wrong reasons. I dont think they should be mandatory at all.

Apply the same reasoning: check.

But this case is even worse. Its the sec regulating a foreign exchange that has foreign investors. You think the SEC can go and try to do that on alibaba?

Re: Worries Grow That the Price of Bitcoin Is Being Propped Up

#330

Post by conanbatt »

jonknee wrote: post #143
conanbatt wrote: post #131

Earlier quoted context omitted.

The most interesting thought to me right now is how the situation will develop if or bitfinex/tether crashes the market hard. I am not a fan of the SEC getting involved. Taking crypto as an experiment, I think it is better for the market to take a hit and then find organic solutions. If the SEC gets involved and busts bitfinex/tether, the community loses the opportunity to become 'unbailable'. Yes , people will lose…

> but if you create the expectation that the sec will protect you as a consumer from the scams, then we will not be sophisticated to actually organically ignore scams. Why have laws at all if you're unwilling to enforce them?

Why have a gun if you are unwilling to pull the trigger, amirite.
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