#WhenTransparency?

Chris Doerfler
Aug 23, 2017 · 1 min read

If you’re following the revelations about #cryptocurrency in terms of trading irregularities on bitfinex, huobi, okcoin, polo, etc etc. it’s clear there’s a connection between the big ‘pre-sale’ (i.e insider trading) VC guys who get into ‘ICO / token sales’ early, and the trade volume manipulation that occurs on these exchanges — all together it is just ridonculous, and counterproductive (for the vast majority of the crypto ecosystem).

Looks like this all could get smoothed out as user-protective self or external regulation comes into play. I’d an advocate of self-regulation and best practices, but I’m in the minority, or so it seems. Most want no controls at all on the systems, just crypto-on-crypto crime, basically.

Smart, small crypto consortiums (usually lead by savvy older VC types) feeding off of the large pool of younger, crypto-uneducated, uninformed individuals who want to believe that crypto is here for a greater good (which it could be, if anyone was actually working on using crypto for socially useful purposes…) is the current reality.

Are regulators the answer? Gee, I hope not, at least not without those working in concert with the community to create a more sustainable environment.

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Chris Doerfler

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#cybersecurity #fintech #blockchain researcher & strategist | #cyclist | #lefthanded #AnalyticalTranslator | musician | www.ramps.io