What's a market maker? It's someone who has bids and asks sitting in the order book providing liquidity. He's happy to buy or sell. He does best when in a ranging market where he guessed the range right. If the market breaks out of his range, he can lose money. They can go broke.
@Jason_Rowley@crunchbasenews We're hearing this is because they haven't been able to close checks from that monster round at the end of Oct -- any word on this?
Remembering CMGI from the internet boom. Feels like this could be written about almost any crypto VC today. Note that they thought of Amazon before Amazon and Google before Google, but couldn't survive long enough to make it matter.
https://t.co/C33s96uERT
@ChicagoHodl@FTC@accounting@ConvexLegal Compliance is not that hard.
The rules on securities marketing are clear and there's excellent legal guidance that might take a few hundred minutes to read and digest.
Why people treat the SEC like the Wizard of Oz is a mystery.
@EpsilonTheory The main problem I see is that crypto is fighting a different fight - against your "Caesar" - to the same end.
My hope for crypto is that it's a barter system with a global reach. If that's still "of" the world you disdain, it's not clear where reconciliation happens?
@EpsilonTheory Give crypto -- $BAT or otherwise -- a spin. It's not salvation, at least not yet, but it's at least courageous enough to try to change the status quo.
Full Heart.
@EpsilonTheory This is circular.
The whole data economy exists b/c of economic incentives. It's exactly the kind of system Jesus would have left to Caesar in your story.
Even if the cable/telcos play to your script, they're playing to their self interest. Clear eyes.
@EpsilonTheory But that's exactly how the system they've -- GOOG/FB/AMZN -- built works.
And nearly every user accepts it, in part because there exists no tool to lever against the status quo. The gift has been given, so to speak.
Can crypto turn the tide? Can we know before we try?