Re:It's time for us in the tech world to speak out about cry...
by xpe on Monday May 31, 2021 @06:19PM
(#27348673)
There are some pitfalls in comparing a particular stock (e.g. Enron) against a class of cash-like assets (e.g. Bitcoin).
If you want to make the comparison, perhaps you could lay out your logic?
So far, I haven't found a clear, direct, fundamental argument in your comments. I see some loosely related examples and some rhetorical questions. I am interested in your justification and terminology.
Re:It's time for us in the tech world to speak out about cry...
by xpe on Monday May 31, 2021 @06:12PM
(#27348601)
Market capitalization varies over time, sometimes quite rapidly, because it (partly) depends on human perception.
Am I detecting some conceptual discomfort with how market valuations work? You wouldn't be the first.
Enron wasn't actually producing any value. Neither are self-replicating Byzantine fault tolerant systems.
Anything they can do can be done hundreds of orders of magnitude more efficiently. And nothing they are doing /requires/ the inefficiencies.
I mean, obviously people at Enron were doing /something/ in the same way Bitcoin is. And obviously investors were paying a lot of money for that at one point and then stopped paying for it when it became clear that /something/ was mostly fraud.