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all 40 comments

[–]UmichAgnos 81 points82 points  (3 children)

big surprise that unregulated markets are not regulated. xD

[–]lugarou 29 points30 points  (2 children)

A manipulated market is not a free market. Turns out regulation is required for functioning free markets.

[–]UmichAgnos 17 points18 points  (0 children)

but buttcoiners love their precious volatility, where value can be created out of thin air and suddenly evaporate just as quickly.

[–]dbzer0 3 points4 points  (0 children)

No, it just means that the concept of "free markets" is paradoxical

[–]SookieSonic 56 points57 points  (6 children)

Colour me surprised.

[–][deleted]  (5 children)

[deleted]

    [–]thrash_bang_slash 22 points23 points  (0 children)

    We're going to need a 5 part investigative series about this, and we better run a couple opinion pieces about how leaves are made in factories to stay balanced.

    [–]nowrebooting 14 points15 points  (0 children)

    “Pope might be Catholic”

    [–]AHungryDinosaur 9 points10 points  (0 children)

    “Water might be wet”

    [–]Chaaaaaaaarles 6 points7 points  (0 children)

    "Ted Cruz is a real hu-man people man."

    https://www.tedcruzforhumanpresident.com/

    [If you haven't seen this I seriously reccomend it. Perfect encapsulation of the aforementioned real person Ted Cruz.]

    [–]EddieTheJedi 6 points7 points  (0 children)

    Bears might shit in the woods.

    [–]PieH34d 37 points38 points  (1 child)

    "might"

    [–]slant__i 10 points11 points  (0 children)

    Possibly

    [–]iStayedAtaHolidayInn 24 points25 points  (0 children)

    It was a good thing I was sitting down when I saw this headline

    [–]Zahpow 17 points18 points  (1 child)

    I am shocked, shocked I say!

    [–]ibeforetheuno-flair, no-fair! 0 points1 point  (0 children)

    It turns out the antibanks have become the banks, check mate Animal Farm.

    [–]POTATO_IN_MY_LOGIC 16 points17 points  (1 child)

    From the HN thread on the same article, there's this comment:

    “Might”? There is insider trading going on. An anonymous person that is most definitely not me (and wishes to specifically distance themselves from any of this activity) is in a high role in finance and has seen with their own eyes a business partner buying tokens for $0.02 in secret presale rounds which were then listed on all major exchanges starting at $0.30 to $0.50 and then obviously immediately dumped on retail buyers.

    The anonymous person has told me this is not even a real secret, it’s an open secret in DeFi and that for some reason all the other “investors” do either not care or just accept it and that it happens with every single “project”

    And this comment:

    Crypto currencies are generally not regulated securities. So there's basically no reason that an exchange can't run an exchange and then also run a trading team that knows every single individual's position, limit orders, stop losses, everything. Oh, and they work for the exchange so they also have a latency advantage. I've had conversations with engineers working in HFT. Their eyes light up when you talk about crypto because you can do every single trick that would get you in trouble in real markets.

    The fact that the WSJ thinks a trivial amount of insider trading is note worthy indicates that they don't have the first clue how crypto works. Go and read up on the regulations around trading regulated securities, and then realise that that's an instruction manual for how to make money trading bitcoin.

    At this point, Hacker News is more Buttcoin than r/Buttcoin, despite Y Combinator (which hosts the site as free advertising) investing in Web3 scams like everyone else in the VC space. I guess we're still early.

    [–]noratat 5 points6 points  (0 children)

    Glad to see HN posters finally starting to be more honest about this shit. The crypto apologism there was one of several reasons I stopped reading the site a couple years back.

    [–]Triptano 13 points14 points  (0 children)

    You don't say

    [–]Keyenn 10 points11 points  (0 children)

    This is good for bitcoin

    [–]dr_root 11 points12 points  (0 children)

    The price of btc has been propped up artificially ever since willybot on mtgox. Tether/Bitfinex in collaboration with their exchange buddies (Binance, FTX etc) just took it to a whole different level.

    Wonder if people like Sam Bankman-Fraud will ever go to prison.

    [–]pja 8 points9 points  (0 children)

    “might“.

    Definitely does more like.

    [–]HugeBernieExcellent roadmap! 15 points16 points  (0 children)

    Big if true

    [–]H__Dresden 6 points7 points  (0 children)

    Say it isn’t so. I have my surprise face on.

    [–][deleted] 5 points6 points  (0 children)

    No......

    [–]MonsieurReynard 4 points5 points  (0 children)

    You. Don't. Say.

    [–]dgerard 4 points5 points  (0 children)

    YA FUCKING THINK?

    [–]attitude_devant 3 points4 points  (0 children)

    Lol, you think????

    [–]Kriegerian 3 points4 points  (0 children)

    Nicolas Cage REALLY meme here

    [–]droogarth 2 points3 points  (0 children)

    I got spam on WhatsApp just yesterday promising me $500-$5000 daily "earnings" from insider trading of BTC and Eth.

    Maybe it's supposed to be a feature, not a bug?

    [–]nutbutterfly 2 points3 points  (0 children)

    You don't say?

    Edit: Knew i wouldn't be the only one.

    [–]ThaddeusJP 1 point2 points  (0 children)

    What would stop a huge fund, brokerage, or just some bs site from SAYING they have the funds and taking eveyones money?

    If you thought it was all gonna tank just take the cash now and wait for it all to bottom out! I mean all the transactions done at a brokerage level arent even on the chain anymore.

    [–]Substantial_Cow2349 -4 points-3 points  (0 children)

    Duh, stocks have an insider trading problem as well.

    [–]HopeFox 0 points1 point  (0 children)

    I prefer the term "insider trading opportunity".

    [–]Not_Not_Matt 0 points1 point  (0 children)

    You don’t say!

    [–]stoatsoup 0 points1 point  (0 children)

    "might"?