>“It was definitely very impressive,” Kellar says. “But it was a poor use of his talent.”<p>I mean how ignorant do you have to be to hold this perception about someone who has just outsmarted you.<p>A poor use of his talent… obviously not? The guy is 16 million wealthier and has quite the legal leg to stand on in regard to being sued.<p>Also, if you’re capitalizing on an unregulated market and trying to apply your own ideals and goals to that market, you’re inherently a market manipulator. I mean what a fucking astonishingly bold claim it is, to accuse the person who took advantage of your error in market manipulation, as being guilty of some sort of market manipulation. The whole thing’s unregulated, that’s how slimy slithery people like y’all get people to drain away their money in the first place right? “Decentralized Finance”. I mean in my opinion these guys can just go fuck themselves and we all call it a day.
The kids these days have a little saying that ends in “find out”, and when you do things on a programmable blockchain that’s you don’t understand you’re definitely engaging in the first part of it.
Given that crypto tokens value is purely from their online market price, I don't see how anything can ever be "market manipulation".<p>Stocks, bonds, commodities and their derivative products all have value tied to real world things- a barrel of oil, the future cash flow from a business, etc, and correspondingly it makes sense to have and enforce regulations to maintain in essence "the price of a bushel of wheat in the real world should be accurately represented by this contract to deliver wheat".<p>But if I create a new coin, ExampleCoin and hype it up on Twitter and discord so people are buying and selling it... Whatever price they agree to is the price. It's all imaginary and/or social consensus so by definition every trade is legitimate. The market isn't an abstraction, the market is the product.<p>Tl;Dr if I was the judge, I'd throw the case out and say this guy got his tokens by using the encoded rules and they're his to keep.