alt Hacker NewsAt this point insider trading issue has run away so hard I don't see how it can be tamed without revolutionary frameworks. If we look at crypto then I'm not sure we want to live in a world where insider trading is normalized either so we ought to start working on these new frameworks as soon as possible but nobody seems to care.
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> without revolutionary frameworks
I’d argue that the level of corruption we’re seeing, not just in the USA but all over the Western world, hasn’t risen to a level that warrants revolutionary action.
> nobody seems to care
And it would seem that the masses tend to agree.
We are much much better off tolerating this level of corruption than we would be attempting a revolution.
Ultimately, it doesn’t matter how fat the fat cats are so long as the general population’s standard of living doesn't go backwards too far too fast.
> but nobody seems to care.
Very few people feel impacted by that. If you consider bombing Iran was going to happen anyway because distractions are needed, the money made by the whale that consistently predicts the movements of the current administration is a relatively small thing compared to starting a war for no good reason.
One possible solution is to make all trades public and traceable to the person who made the decision and the people who benefit from that.
Interestingly enough, trading and gambling are things that a blockchain is a pretty good fit for. There is a public ledger and trace of ownership for the trades / lays. And depending on how it is set up, payout is autonomous, as long as no one party controls the network.
It can be solved by enforcing the laws already on the books. Insider trading is illegal.
If the laws are not enforced or selectively enforced you live in a nascent fascist state, not a democracy, what you need is a return to the rule of law, not the abolition of it.
Speculation has historically been solved by a workers vanguard party.
You're wrong.
It's just that the problem is not the trading or betting side, the problem is the information producing side.
E.g. imagine he placed a bet that Maduro would get shot in is left eye and die.
Same goes for the congress. Them making money is by far a smaller issue compared to the havoc they can cause trying to make a few bucks on their crazy bets.
Just ban gambling. That solves good part of it.
Then ENFORCE EXISTING LAWS. That solves good part of it.
Talking about any other solutions will have to wait for govt that's not crooked. It doesn't need revolution, it needs to not have criminals at helm