Re:Worries Grow That the Price of Bitcoin Is Being Propped Up
by Aunche on Thursday February 01, 2018 @12:55PM
(#16283985)
Your overestimating the financial intelligence of the average person. Think about the billions people waste on actual pyramid schemes. These are the same types of people who will be screwed over the most by a cryptocurrency crash. Is a slightly more efficient cryptocurrency market really worth the hardship of thousands of people?
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Re:Worries Grow That the Price of Bitcoin Is Being Propped Up
by conanbatt on Thursday February 01, 2018 @03:25PM
(#16285526)
Sure, you also have bernie madoff that made the biggest heist in history under the alledged supervision of the SEC.
Or worse, the 2008 bailouts, which were the equivalent of today the US government saying they will buy all the tethers on parity from bitfinex so their insolvency doesnt affect the market. I say let the chips fall where they may. If bitfinex is insolvent it should go down, and the lawsuits on fraud should put the people in charge in jail. Nothing else needed.
Re:Worries Grow That the Price of Bitcoin Is Being Propped Up
by mdpopescu on Thursday February 01, 2018 @02:49PM
(#16285206)
Either (most) people are stupid and they need to be protected for their own good - in which case we have the problem that the same people are nevertheless somehow capable to democratically choose their representatives. Or (most) people are fine taking more risks than you would like them to, and - because you believe you know better - you want to prevent them from doing so.