Post AQLKa9D4smJ32YDOG8 by rumblestiltskin@cryptocartel.social
 (DIR) More posts by rumblestiltskin@cryptocartel.social
 (DIR) Post #AQImelaULt2ST0HBrc by mgeist@mas.to
       2022-12-05T16:16:05Z
       
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       The FTX collapse has left many wondering whether this is the end of crypto. If not, what regulatory reform is needed? University of Calgary professor @ryanjclements@twitter.com breaks down what happened and what Canada’s crypto regulatory looks like and needs next.https://www.michaelgeist.ca/2022/12/law-bytes-podcast-episode-149
       
 (DIR) Post #AQImemEtvdMgULBSr2 by sj_zero@social.fbxl.net
       2022-12-05T16:27:24.141381Z
       
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       I tend to think that was actually needed is to stop sticking our fingers in things.People need to put their hand on the hot stove to realize the stove is hot. If you build a giant iron gate around the hot stove, then eventually people forget that the stove is hot, and eventually someone is going to forget why you built the iron gate and they're going to tear it down and everyone's going to rush in and put their hand on the hot stove again.These massive scams keep on happening because of the fallacy that the government will protect you from massive scams.
       
 (DIR) Post #AQLEDRqcp16eSWVQKu by jeffcliff@shitposter.club
       2022-12-06T20:45:37.809431Z
       
       0 likes, 0 repeats
       
       @mgeist Only people who don't understand crypto.  FTX was a company primarily used by institutional (non-crypto) investors. It was a scam.  But the existence of a company that engages in a scam barely even relates to the underlying technology.Regulatory reform under the Trudeau government is almost definitely going to be in the wrong direction.
       
 (DIR) Post #AQLEHDiZIZhTnIXIGW by APPTeOORuzvlGOetVY.verita84@poster.place
       2022-12-06T20:46:19.181603Z
       
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       @jeffcliff They had nice app and website doh :ftx-jew:
       
 (DIR) Post #AQLEKTmS2CpaTpuFMW by jeffcliff@shitposter.club
       2022-12-06T20:46:47.070466Z
       
       0 likes, 0 repeats
       
       @verita84 was it proprietary?
       
 (DIR) Post #AQLEMNAxYsxGZjGyJ6 by APPTeOORuzvlGOetVY.verita84@poster.place
       2022-12-06T20:47:14.849321Z
       
       0 likes, 0 repeats
       
       @jeffcliff Don't know. Probably
       
 (DIR) Post #AQLEOKxMmeZWGtqq3c by jeffcliff@shitposter.club
       2022-12-06T20:47:35.216299Z
       
       1 likes, 0 repeats
       
       @verita84 exactly. crap that no one should have touched with a 20 foot pole
       
 (DIR) Post #AQLJq43NinyFj8hnzk by rumblestiltskin@cryptocartel.social
       2022-12-06T21:45:35Z
       
       1 likes, 0 repeats
       
       @jeffcliff @mgeist Well as long as the new regulations are targeted at companies like FTX then they will help some investors. But I tend to agree with you, the likely outcome will be some regulation on stable coins or using smart contracts.
       
 (DIR) Post #AQLJq4gNNpA9g4wwm8 by jeffcliff@shitposter.club
       2022-12-06T21:48:16.639401Z
       
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       @rumblestiltskin @mgeist honestly if stablecoins get nerfed i'm not entirely convinced that would be a bad thingssmart contracts though, would be not just shooting ourself in the foot, that's shooting ourself right in the head
       
 (DIR) Post #AQLKa9D4smJ32YDOG8 by rumblestiltskin@cryptocartel.social
       2022-12-06T21:56:36Z
       
       1 likes, 0 repeats
       
       @jeffcliff @mgeist I think with stable coins like USDC they will add regulation to hold enough reserves for the assets they have put onchain and they will also require the ability freeze funds. These two things are essentially there already and because corporations and governments are happy with that they won't be nerfed in my opinion.Stable coins like Dai on the other hand are able do things large companies and governments don't like.