Re:Mass of Transactions Leaving Crypto.com Wallets
by dmitriid on Monday November 14, 2022 @01:57AM
(#33590949)
> In finance, bad actors outcompete good ones absent regulation.
Not just in finance. Everywhere.
With crypto we just see all this happening real fast, in real time.
Re:Mass of Transactions Leaving Crypto.com Wallets
by JumpCrisscross on Monday November 14, 2022 @02:05AM
(#33590994)
> Not just in finance. Everywhere.
It seems more prevalent in finance. In the real economy, consumers show scepticism. They’re trading money for a good or service they get at or shortly after the point of sale. Financial and insurance products are more difficult to diligence; you don’t know what you’re getting (or not) until long after purchase.
Re:Mass of Transactions Leaving Crypto.com Wallets
by germinalphrase on Monday November 14, 2022 @08:15AM
(#33593472)
Products can hide all sorts of “bad acting” in the supply/manufacturing chain. Companies that are willing and able to [use indentured servants, etc] will be able to sell a product cheaper than a competitor that holds themselves to higher standards.
The appearance of ethics/morals might be a benefit, but true ethics/morals are often a cost.
Re:Mass of Transactions Leaving Crypto.com Wallets
by lupire on Monday November 14, 2022 @09:04AM
(#33594022)
That's because finance is virtualized, so it's more efficient to transact in than containers of goods.
Amazon.com shows how the goods market is as bad it can be when transaction costs decrease.
In finance, bad actors outcompete good ones absent regulation. The game is one of confidence and compounding. Until the music stops, venues promising higher returns bleed well-run ones dry. Add to that crypto’s Gresham’s law-esque nature, which selects for gamblers against financial markets, and you wind up with little market space for well-run exchanges. (Which have never been actual exchanges, but instead quasi broker-banker-money market funds.)