Re:Bitcoin is an Energy Hog
by cf on Wednesday December 27, 2017 @05:06PM
(#16018449)
See arbitrages, asymmetric information, collusion, and price fixing
[ Parent
| on HN ]
These are all effects of unregulated markets.
Markets aren't right or wrong. People decide what's right and wrong, and apply the relevant constraints via regulation.
Sure, I agree with that. It's not clear the comment I'm replying to does so. If we want to view the market as a phenomenon like soil erosion that's fine. I got the impression that the parent comment was implying markets as a provably optimal solver for resource allocation problems.