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A comment on Ask HN: Does Anyone else working in a crypto company feel this is all a scam?. Parent comment

Re:Ask HN: Does Anyone else working in a crypto company feel... by googlerx on Wednesday February 09, 2022 @03:36PM (#30278124)
You might have a point if the only negative outcome of 2008 was that a lot of people lost homes they could never afford.

It was the banks' and regulators' responsibility to not allow bad loans to be issued and resold as mis-labeled AAA investment vehicles. That is the part that broke the global economy.

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Re:Ask HN: Does Anyone else working in a crypto company feel... by jlcoff on Thursday February 10, 2022 @03:41AM (#30283730)
NO, it's not the job of the government to save people from shooting themselves.
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Re:Ask HN: Does Anyone else working in a crypto company feel... by atq2119 on Friday February 11, 2022 @07:47PM (#30308865)
Mis-labeling a product is literally fraud.

Looked at from first principles, the market cannot work efficiently if people are allowed to lie. Lies create an enormous amount of waste through direct and indirect effects.

Government as the monopoly on power (and locking people up) has an important role to play in policing this.

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Re:Ask HN: Does Anyone else working in a crypto company feel... by jlcoff on Sunday February 13, 2022 @03:41PM (#30325445)
> Mis-labeling a product is literally fraud

Such as Tesla FSD ?

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Re:Ask HN: Does Anyone else working in a crypto company feel... by atq2119 on Monday February 14, 2022 @01:41AM (#30328982)
Arguably yes.
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Re:Ask HN: Does Anyone else working in a crypto company feel... by googlerx on Thursday February 10, 2022 @04:46PM (#30293127)
I never said or implied that it was.

But (in the US at least), it actually is the government's job to keep the economy stable in order to "insure domestic Tranquility [... and...] promote the general Welfare"

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