Katya

@zooko there is no such thing as an asset that cannot be insider-traded. information will and should be monetized in any opportunity, regardless of the market or asset.

But it’s just trading, not insider trading All trading is based on information asymmetry, the question is whether any of this info could be obtained in a way to call it “insider”

1/ It's an awkward question that I've dealt with after being accused of insider trading by an internet troll who didn't know what it was. There's no consistent definition of insider trading in laws or regulation. In common usage, we typically mean, specifically, illegal trading

2/ on non-public information. The laws around trading on non-public information are complex, subtle, and differ between securities and non-securities. For non-securities, it's fairly hard for it to be illegal - it likely requires a breach of fiduciary obligation.

Bitcoin is not a security for legal/SEC purposes.

There's still information arbitrage between large market participants

But this isn’t insider trading as it relates to news on Bitcoin itself. Nobody has insider information on what’s going on at Bitcoin headquarters. You can’t have insider trading with Bitcoin.