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orthogonal_cube • yesterday at 9:51 PM • 1 reply • view on HN

> Why do we have that complex systems where shares can only be traded by regulated entities (brokers)

Because it safeguards against fraud and tax evasion.

> Paying 2-5$ fees on trades seem backwards this day and age.

Many brokerages don’t charge for buying or selling stock. They make their money elsewhere, likely with contracts on calls/puts. But to your point, having to pay a variable rate fee for moving my Ethereum from one wallet I own to another wallet I own also seems silly. I’m certain though that in both cases the charges cover the maintenance costs to keep the platform going. Everything comes at a cost.


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littlecranky67 • yesterday at 10:07 PM

I didn't say anything about decentralized blockchain or anonymous tokens. We could have a kyc process and a single centralized blockchain run by the stock exchange, which only settles transactions to kyc customers - fraud prevention and tax evasion applies.

The real-time trading independent of brokerages, the free information flow of trading volume/direction etc. all benefits and a true, real free market. Right now we have mountain of unneeded intermediaries, that sit and cash in on the data and access.

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