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A comment on Initial Coin Offerings Horrify a Former S.E.C. Regulator. Parent comment

Re:Initial Coin Offerings Horrify a Former S.E.C. Regulator by ghaff on Monday November 27, 2017 @04:01PM (#15791333)
That and a lot of people really aren't qualified to judge the risk and fall victim to "You can't lose!" scams. Being rich is no guarantee of financial sophistication of course but there's some correlation. And, as you say, they're less likely to be wiped out even if they lose their investment.

I agree it's not a perfect system and people who want to can find other ways to throw away their money. But we're probably not guilty of over-regulating financial markets in general.

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Re:Initial Coin Offerings Horrify a Former S.E.C. Regulator by smokeyj on Monday November 27, 2017 @05:37PM (#15792279)
> I agree it's not a perfect system

I think it's a great system. But I also hate poor people and don't want them to have the same opportunities I have. Let them play the lottery instead right?

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Re:Initial Coin Offerings Horrify a Former S.E.C. Regulator by ghaff on Monday November 27, 2017 @05:57PM (#15792468)
For me personally, state lotteries work great. They're a very regressive tax. I also don't like them much and appreciate that, at least in my state, advertising and promotion was largely phased out.

[ADDED: In case anyone missed the sarcasm I'm not a huge fan of state lotteries because they target the people who can least afford them. That said, I realize many buyers would go the less regulated route if they didn't exist.]

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