Re:Coinbase says buying and selling temporarily disabled ami...
by oceanghost on Friday December 22, 2017 @01:32PM
(#15989713)
There's a law of economics that, crashes occur when everyone who can remember the reason we have laws to prevent them is dead.
Re:Coinbase says buying and selling temporarily disabled ami...
by Robotbeat on Friday December 22, 2017 @02:39PM
(#15990260)
I think that's the Minsky Moment, basically that long periods of stable investment growth lead to increased risk-taking, inflation of a bubble, and eventually a crash.
Re:Coinbase says buying and selling temporarily disabled ami...
by slg on Friday December 22, 2017 @01:29PM
(#15989692)
I like how you laid that out. We are seeing a very similar process happen with Uber and Airbnb at varying rates.
Re:Coinbase says buying and selling temporarily disabled ami...
by fullshark on Friday December 22, 2017 @03:47PM
(#15990748)
Maybe i'm dense but where else has this classic narrative unfolded? Social media? What you are describing seems to me more common with bureaucratic solutions than technological ones.
1. Technology people are presented with a social/cultural/government situation that seems inelegant, irrational and overly complex.
2. They decide to "solve" that problem using technology.
3. Even with the new technology, it somehow appears everything is not miraculously better.
4. Technology people propose layering a few small social fixes on top of their technology to address the "minor issues" left by their brilliant technology.
5. They fail to realize all of their kludgy human-level patches on top of the technology are merely less-mature forms of the social structure they claimed to have replaced in step 2. Now we have an even less elegant, more irrational, more complex social institution, mixed with non-helpful technology.
6. Now the problem is not fun to work on any more (too much squishy inelegant human stuff), so they wander off to "solve" some other cultural malady.