Quote from: eturnerx on June 29, 2011, 06:51:06 PM

Quote from: ADgordo on June 28, 2011, 09:32:54 PM

SkepsiDyne is neither a legal entity by SEC standards nor is inside trading a crime in my view. Shouldn't those willing to take risks get the rewards of early access to info regarding those risks? Can government limit speech?

This is not the place to be talking about the law, but assuming the Bitcoin community loves free markets, free flowing information, and a consistent moral code, insider secrets should be regarded by non shareholders as irrelevant to their own affairs.

I only mention the law not because it applies but because this is custom that has evolved over hundreds of years of securities trading. Looking at the history of some past dodgy deals I'm quite glad of it.

To answer your question: How do you choose who is "morally" entitled to inside info? What if I paid tawsix for inside info 48 hours ahead of public announcements? Wouldn't that give me quite a bit advantage? What if tawsix used his insider position to dump his shares because the building burnt down - he'd have a few hours to do so all the time claiming an internet outage or a power cut.
This is not a free speech issue. This is a control on the dissemination of the speech. I'm not claiming its a government issue, I'm claiming its a moral issue. You also know that free speech has limits: lying, fraud, blackmail, "fire" in a theatre etc. have all evolved as legal limits on free speech. Insider trading is limit for similar reasons - all moral ones.

This is a moral debate. As an earlier poster said too often people think they're doing some new and special here and instead are setting up a new "wild west". Stock exchanges evolved rules (eventually set into law) because it benefited their customers. I'm not saying all those systems and rules are good - except this one.

Free flowing info? Yes I agree everybody should have access to it: Shareholders and non-shareholders (who want it). So if there is insider info let's publicly release it. I think I will.

No insider secrets are relevant to potential shareholders.

I can image we're never going to agree - so it's probably going to come down to who holds more shares: you or I. Happy voting.

Very nice explanation against insider trading, and why it should not be done, even in bitcoin companies.

Glad to see there are others who recognize the wild west nature of bitcoin and fight back against the morons who fuel it.