I think their point is there's no "peer to peer" trading so it's not an exchange. You're always contracting futures with them, so it's more like a vegetables seller than a trading facility.
Exactly right. You're able to privately resell contract keys (and the buyer can then re-issue a new key with their delivery info, voiding the old one), but onionfutures.com doesn't facilitate it.
I mean, it kind of does, though, no? Since it is backing the contract in the first place? Why else would anyone buy those contracts if they didn't know they have value provided by onionfutures.com in the first place? Why can't I just sell a fake key, claim it'll work, and make unlimited money this way if that wasn't the case?
The specific laws do not actually ban the transfer of those contracts (tbf this is very complex and depends on your reading). And yes they do not facilitate the trading of the instruments in the secondary market but they absolutely facilitate the instruments themselves otherwise there cannot be a secondary market without any backers of the instruments.
I went through the "myth in human history" class/book from The Great Courses some years ago (great course!), iirc it mentioned a few common themes of creation myths: cosmic egg, emergence from depths, divine parents, ex nihilo, and "retrieval from the sea bottom".
I think any relation to actual science is accidental.
Jared Diamond speaks of this in one of his book (I think "Collapse", but I may be wrong), and highlights how we romanticize the pre-modern world, but we have the clear example of people in PNG who are absolutely super happy to abandon it and join the modern one.
(the modern world has plenty of problems, of course)
This isnt romanticizing premodern world. Modern doesn't equal better, but I understand the knee jerk reaction to calling out the serious problems with our current society that nobody wants to face.
> Wu retains control of the Chinese unit via his possession of the company stamp which is necessary in China to authorize important bureaucratic procedures.
Something I find weird is that modern seals are mass-produced. There is no identification value, because anyone can trivially buy a seal that will make the exact impression of your seal.
(For personal seals. I don't know what company seals involve.)
The base is mass produced; and you are conflating 'vanity' stamps available as souvenirs with the registered official seals for banking and formal business. Anyone can trivially buy a stamp matching all the other toy stamps for that name, but are not official.
Official seals use uncommon font styles and are hand carved natural materials, such that each one has a unique microfeatures inherent to the wood, stone, or horn used, which develop unique wear and ink absorption characteristics.
These official seals are registered and become official for specific scopes of use; some are solely for banking and separate from the other uses like contracts and official filings: which prevents corporate partners and official channels from potentially exposing the banking seals.
The vanity type seals can be used for informal things like putting your name on homework or stamping a package delivery receipt for items of trivial value such as Amazon basics, but it is illegal to use mass produced stamps for official legal or banking.
At least in the Japanese context that I'm more familiar with, there's also levels to seals: you have (possibly mass produced) lower-value seals for low-value signatures, but you also have high value seals where an exact imprint is recorded with the government for high value signature verification, and physical possession of which is very carefully guarded.
I mean it's basically identical to a signature in terms of identification value, and, by the sounds of it, usage.
The only difference is that demonstrated in the described case, that the stamp is expected to be passed on to whomever is in authority, whereas we would never say "This CEO can't be ousted as he refused to relinquish his signature."
> I mean it's basically identical to a signature in terms of identification value, and, by the sounds of it, usage.I mean it's basically identical to a signature in terms of identification value, and, by the sounds of it, usage.
Usage, sure. It's a lot worse in terms of identification value; signatures can be forged, but signing seals look identical to each other by design. Nobody is going to produce an exact replica of your signature by accident, but with seals that's routine.
Or, in the words of my friend, 橡皮章的大小，字体都一样的 [rubber seals' size and font are all the same].
(I had asked her whether she had a seal herself. She confirmed that she has one, and sent me an image very similar to this: https://img1.baidu.com/it/u=3145542370,421755251&fm=253&fmt=... . But she noted that Chinese personal seals are more likely to be square than round.)
Probably better than a signature for the high end fancy ones given that mine never looks the same from one to the next, a stamp made of natural material is going to be more self-similar across impressions than my signature or most peoples I'd imagine.
Not to mention the god awful "sign here" on delivery tablets, I just make a random squiggle because it never works properly.
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