| > Go back and read it. I did re-read it. That's how I could quote your words. > You threw barbs and used the word "scam" as often as you could Because that's what the absolute vast majority of crypto is. > This is exactly like every crypto discussion on the internet today, it's very frustrating. Yes. Every crypto discussion on goes like this: - Crypto claims are refuted or questioned - Crypto maximalist spouts some grandiose bullshit - Crypto maximalist gets called out - Crypto maximalist disappears I've yet to see you actually address anything I said in my very first comment here: https://news.ycombinator.com/item?id=32850112 > I'm talking about deliverable perpetual futures. It's a nonsensical term (like many other nonsensical terms) that only exists in the crypto space. And only works in the highly volatile market like crypto. This is short-to-medium term currency speculation, and I'm sure there are plenty of services that allow you to do that in "traditional finance". As I'm not interested in currency speculation, I couldn't tell you what they are. > Now perhaps you see what I am getting at? It's not accessible You've selected a single service revolving around currency speculation and you call "traditional finance" inaccessible because of that. That... is not what accessibility to financial services means. Or what "levelling the playing field" is. > Is there some reason the system is the way it is? Yes, I'm sure there is. You're sure, but at the same time you are completely uninterested to learn why it is that way, and you dismiss anyone telling you why it is the way it is because, let me quote, "it's an awful exploitative global financial system". > There are a million and one ways to lose all your money, plus a million new ones that weren't possible before. Indeed. And that makes this "accessible and a level playing field" unlike traditional finance which offers fraud protection, deposit insurance, etc. etc. > And soon a new technology will come, and everyone who understands the current landscape will know immediately what to do with it So, the "accessible system" will be accessible to those who understand current landscape, who have already lost money a million ways and cut themselves on sharp corners. That is neither accessible nor a level playing field. If you claim that it is "global financial system which can be participated in by anyone", where are the protections for those who "did not have access to existing systems" (I keep quoting you). I'm a programmer, I earn quite a lot. And I still cannot afford to just go ahead and "lose my money in a million ways" and "cut myself when working with a sharp object". Where's your accessibility, huh? > and everyone who has had their head in the sand will wait for the SEC for guidance Ah yes. Instead we can just not wait and lose the money a million and one ways for the sake of.... something. There's a reason for SEC guidances, but, again, you're entirely unwilling to learn why they exist. Perhaps, you will learn it the hard way. |
What is a qualified investor? And why do you have to be one if you want legal access to unregistered securities?