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points by boxed 5 days ago | 0 comments
> Most uncertain things that people need to hedge (currency, commodity prices) already had a hedge

What happens when the people with pitch forks come for your derivatives and call it gambling? They did during the 2008 financial crisis. It sounded pretty much exactly like your take here, one abstraction jump away.

Then after they've come for your derivatives, they come for your banks. Because what is a bank except skimming off the top of the company doing the real business?

Then they come for your company. Because what is a companies except skimming off the top of the workers doing the real business?

And then you're standing in that bread queue wondering how it happened, even if it was all 100% predictable.

[–] mrbombastic 4 days ago
ah yes the slippery slope that leads from banning prediction markets that didn't exist 10 years ago to banning erm, companies. definitely a guaranteed outcome you should make a bet.
[–] boxed 4 days ago
I'm just saying that arguing from intuitive understandings of economics by people who know absolutely nothing about economics is... well stupid.

Also notice that all those things I gave as examples actually happened. Multiple times.