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comment by kleinbl00
kleinbl00  ·  2299 days ago  ·  link  ·    ·  parent  ·  post: Musings on Cryptocurrency - an invitation to ruminate

Here's where it gets awful:

There's nothing preventing you from

1) Buying a bunch of Ripple

2) Posting on Reddit that you heard a rumor from a friend who has a friend who went to the Coinbase Christmas party who said he overheard they were thinking of adding Ripple to Coinbase

3) Wait 12 hours

4) Sell a shit-ton of Ripple at a hilarious profit

Or worse

1) Be coinbase

2) Buy a shitload of Ripple

3) Leak that you're thinking of adding Ripple

4) Sell a shitload of Ripple

Or worse

1) Be Ripple

2) Tweet that a picture of Coinbase's logo

3) profit

The average stock market investor is unsophisticated. However, he's investing in something protected by securities exchange commissions, however paper-thin those protections are in actuality. Crypto speculators? that shit is all hanging out.