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A comment on Tether starting to lose its peg too, after Terra did. Parent comment

Re:Tether starting to lose its peg too, after Terra did by skybrian on Thursday May 12, 2022 @12:45PM (#31356566)
Well, it sort of is. The rules about not lying to investors, having accurate financial statements, and so on, are to help them avoid making bad investment decisions. The "accredited investor" limitations are supposed to make it harder for unsophisticated investors to lose their money.
[ Parent | on HN ]
Re:Tether starting to lose its peg too, after Terra did by cupofpython on Friday May 13, 2022 @11:21AM (#31368779)
Not really, it is to preemptively stop scamming.

I think the issue is assuming people who get scammed are at fault for something, just because a more paranoid person would have avoided the scam.

Regulation will not stop me from selling a potato for $100. it will stop me from selling a regular potato for $100 while claiming it cures cancer.

Buying a potato for $100 would be dumb, and nothing stops me from doing it

Buying a cancer-curing potato for $100 is not dumb. Believing a potato can cure cancer because someone else is publicly selling it to me that way in full view of the entire world is not dumb. I would think "oh wow, something about this potato must be cancer-curing because surely this guy knows that if he scams me in front of the public then the public will hold him accountable."

So it is now time to hold people accountable

[ Parent | on HN ]