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submitted 3 months ago* (last edited 3 months ago) by [email protected] to c/[email protected]

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[–] [email protected] 7 points 3 months ago (1 children)

Why wouldn't companies just set themselves up as the exchanges in that scenario?

I don't think it would functionally change anything

[–] [email protected] 2 points 3 months ago (1 children)

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.

[–] [email protected] 3 points 3 months ago (1 children)

Then how would the stock have any value?

[–] [email protected] 2 points 3 months ago

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