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Comment by pavel_lishin | Hacker News Reader

I'd compare this to leaving your house's front door unlocked and open. You're an idiot, but if someone walks in and trashes the place, they still committed a crime.

That's my brain talking, of course. My gut reaction is to say, "stupid is as stupid does", and blame the person who wrote a buggy piece of software.

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> I'd compare this to leaving your house's front door unlocked and open. You're an idiot, but if someone walks in and trashes the place, they still committed a crime.

I disagree. The classic, respectable "value investor" takes advantage of other speculators mistakes by finding stocks who's value is irrationally low or high and betting against them. What's the moral difference?

If automated trading systems can't handle someone playing back at them without causing a "flash crash" then that's an argument against letting automated systems trade (at least under current regs) not an argument against the opponents who outsmarted one.

If you can guess how a person will react to market fluctuations and make money off of it, is that a crime?

It is if the counterparty bought themselves a government regulator.

Is it a crime to hustle at pool or poker?

If you cause the fluctuations, yes. It's called "market manipulation" and it has been illegal for a very long time.

Yes but no.

Outwitting other people gambling on the stockmarket is explicitly legal, expected even. Thieving from unguarded targets is not.

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