With the social and financial security nets we have, a person’s bankruptcy is on all taxpayers (as soon as they get food stamps, Medicaid, etc.). There’s an incentive to protect people from devastating financial mistakes, regardless of political slant.
That is one of many arguments that we should cease to be so socialistic.
So let people starve so that a few others can get richer?
The question, as always, is what did those people do to earn the food with which to not starve?
(Many people do just fine by producing things of value and engaging in voluntary acts of trade.)
I mean, I'm coming from a place where I don't think we should let people die because they are currently not economically productive.
If you think that people should die if they can't produce a surplus, you're free to have that opinion. Just don't hide it behind phrases like "we should cease to be so socialistic".
I also hope youre the first to stand up and refuse help when you find yourself in a situation where your skills are no longer valued
> I also hope youre the first to stand up and refuse help when you find yourself in a situation where your skills are no longer valued
I absolutely would -- because if my skills are no longer valued, it's time to pick up some new skills.
Many will say “cut food stamps and Medicaid”
>If you are an unsophisticated investor trying to invest in an ICO and you lose out big, I think that is on you. I don't try my hand in algorithmic day trading, or long term value-based investing either because I know I am not informed enough to be able to make money, so I stay out.
Like it or not, but there are plenty of "unsophisticated investors" that don't know to stay out.
There's an old saying about fools and their money...
It's like saying that anyone losing something in free market had only himself to blame and there should be zero regulation of markets of any kind. Yeah, that works out perfectly in the long run. /s
Re:The ICO paradox and how to fix it
by andrewflnr on Tuesday March 13, 2018 @06:14PM
(#16580359)
This is doubly a strawman. "Don't invest in things you don't understand" is pretty much rule 1 of investing, which is quite different from the general case of participating in a market. Anyway, GP already said they agree that regulation is needed.
I agree with the premise
> The industry needs more regulation
but not the reason,
> unsophisticated investors
If you are an unsophisticated investor trying to invest in an ICO and you lose out big, I think that is on you. I don't try my hand in algorithmic day trading, or long term value-based investing either because I know I am not informed enough to be able to make money, so I stay out.