What isn't illegal but should be?

Varven@lemmy.world to Asklemmy@lemmy.ml – 146 points –
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Why wouldn't companies just set themselves up as the exchanges in that scenario?

I don't think it would functionally change anything

I'm envisioning stock as a sort of non-transferable contract between you and a company. There would be no way to pass the stock to a third party.

Then how would the stock have any value?

The way it originally had value. You are loaning the company money and betting they are successful enough to pay you back with dividends.