91–100 of 386 posts
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>it would be idiotic to let this madness continue. Why? Inevitably the fools will just run out of money. This "problem" seems to take care of itself.
Because these "fools" once they run out of money will be out on streets taking social security. Then it becomes our problem again.
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.
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…
If you're being manipulated into a scam, it's not your really your choice, you are not consenting to being scammed, you are consenting to whatever proposition made sense to you on the surface, but was not going to hold up due to withheld information from the recipient of your money. Nobody volunteers or makes a choice to be scammed.
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Estonia's gov is famous for adapting new things. I still remember their initiative on e-visa. Actually China is trying to do that too. But crypto coins are made to decentralize things, I wonder how these gov-lead coins will play any parts.
The PRC leadership could "own" a cryptocurrency by securing a majority of nodes in the graph under their control, either physically or by mandating the use of their software, and disallowing the exchange of user-forks off their own coin-base. While users would always be able to use their own forks, the gov would only allow taxes and retail trade to happen with their branch, thus de-legitimizing user forks and reducin…
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"only one new bank created in the UK over the last 100 years"? You are quite mistaken here, from the top of my head, Tesco (late 90s) and Monzo (very recent) are 2 examples, and I'm not even into finance.
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.
Anyway, there's well over a hundred banks listed, and around forty building societies, so there's hardly a lack of competition.
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"only one new bank created in the UK over the last 100 years"? You are quite mistaken here, from the top of my head, Tesco (late 90s) and Monzo (very recent) are 2 examples, and I'm not even into finance.
I think what CryptoPunk refers to is that (allegedly) Metro is the only "high street", i.e. with many physical branches, bank created in the UK in the last 100+ years. Given we're in a thread talking about ICOs and tech startups, I would side with you and say this is an irrelevant classification and the claim is wrong. :-P Still interesting though, but given the veritable plethora of recently founded remote-only bank…
All that real estate that is now occupied by bank branches can be give to some other businesses that actually need physical space (fashion/clothes, sports, restaurant, gyms etc) to use it more efficiently.
The only reason I had to go to a physical branch this year was to change my address and that is only because my old bank where my main account is doesn't have a way to do this online (seriously I don't understand why is it so difficult to make this a feature of online banking...).
I am using Monzo as my secondary bank and once they give me current account later this year, if it works smoothly and there are no issues I might get rid of my old bank account.
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.
Yeah, what's with consenting adults freely and willingly contracting with each others. I'm glad the powers that be put an end to that madness.
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.
It's not sensible at all. It's none of anyone's business what two consenting adults do with their money. The idea of a third party dictating the range of acceptable contractual engagements is absolutely terrible and has profound negative unintended consequences, with the worst of them being licensing barriers to create rent-seeking opportunities (only one new bank created in the UK over the last 100 years).
The point is ICOs are akin to scams. And there should be a regulations around it.
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.
Actually I think such bold decisions can only be made by a government that is not encumbered with lobbies and business interests.
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.
Actually I think such bold decisions can only be made by a government that is not encumbered with lobbies and business interests.
Venture Capitalists are all on board with a technology that forces them to compete with the masses during seed rounds...
and existing companies are all about upstart competitors having an easier way to get capital early on...
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