AskBeehaw

2003 readers

2 users here now

An open-ended community for asking and answering various questions! Permissive of asks, AMAs, and OOTLs (out-of-the-loop) alike.

In the absence of flairs, questions requesting more thought-out answers can be marked by putting [SERIOUS] in the title.

Subcommunity of Chat

This community's icon was made by Aaron Schneider, under the CC-BY-NC-SA 4.0 license.

founded 1 year ago

MODERATORS

alyaza@beehaw.org

thrawn21@beehaw.org

UngodlyAudrey@beehaw.org

Are there a lot of scammers in the US? (beehaw.org)

submitted 9 months ago* (last edited 9 months ago) by xilliah@beehaw.org to c/askbeehaw@beehaw.org

9 comments fedilink hide all child comments

Because of how liberal their market is?

you are viewing a single comment's thread
view the rest of the comments

[–] xilliah@beehaw.org 2 points 9 months ago (2 children)

Well through financial instruments like stocks.

[–] TheOneCurly@lemmy.theonecurly.page 2 points 9 months ago (2 children)

Ah, I'm not sure how the US market rules compare to other large stock exchanges but I don't believe there are an enormous number of outright scams on either the NYSE or NASDAQ. There's definitely a fine line between marketing, hype, and scam. Musk, for instance, pretty blatantly crosses the line into market manipulation but that's more an exception than a rule. In general, disclosures are accurate and you can pretty much know what you're getting into before buying.

[–] degen@midwest.social 4 points 9 months ago

There is only one scam in the stock market, and that is the whole system.

[–] xilliah@beehaw.org 1 points 9 months ago* (last edited 9 months ago)

Ah ok so it seems worse than it is because a few corrupt people are incredibly visible.

[–] Moobythegoldensock@lemm.ee 2 points 9 months ago

There are some (like in The Wolf of Wall Street,) but the penalty is prison time if caught. Crypto still has a lot of scams, though.