Washington Needs a Crypto Rethink

Re:Washington Needs a Crypto Rethink by notwokeno on Friday December 23, 2022 @02:52AM (#34103309)

Not everything in crypto is a scam. It's easy to tell with eg tokens by checking the contract: if the organization behind the tokens can issue arbitrary numbers of new tokens or replace the contract then it's a scam. The FTX token would have failed this test if anyone involved had cared to look.

This is something you can't do with securities and it's why I'm not convinced regulators really need to be as closely involved.

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Re:Washington Needs a Crypto Rethink by TylerE on Friday December 23, 2022 @04:44AM (#34103980)

Uh? Companies issues new shares all the time.

In any case your username makes me strongly suspect you are not arguing in good faith, but merely propagandizing/shilling.

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Re:Washington Needs a Crypto Rethink by notwokeno on Friday December 23, 2022 @08:02AM (#34105315)

Tokens aren't shares (if they wanted to issue shares they would have just done an IPO) and if you follow my rule you're extremely unlikely to get scammed.

I don't know what to tell you if you're going to assume the other side isn't arguing in good faith although I feel the same way about most of the anti-crypto people here.

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Re:Washington Needs a Crypto Rethink by davidgerard on Friday December 23, 2022 @05:09AM (#34104124)

> Not everything in crypto is a scam

but if you assume it is, you'll basically be correct

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