Reading this report by the NY Attorney General is really frustrating because with subpoena power on the Bitcoin industry they investigated and found perfidious... ability of professional investors to outperform amateurs via use of computers, volume pricing, and skill.
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It is the fraudiest fraud in the history of frauds and the problem which the *New York* AG identifies is maker/taker fees!?! https://ag.ny.gov/sites/default/files/vmii_report.pdf …
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They also talk about “sophisticated order types” like... all the ones I implemented for Starfighter, in a freaking game, in a day, given a one sentence description of their mechanism.
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“High message rates are often a marker of an abusive trading strategy” ... No. No they are not. That is violently abusive to the facts of the grown up financial industry. It’s like saying “Be on the lookout for trades denominated in dollars.”
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