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A comment on Netherlands must ban cryptocurrencies immediately: CPB head. Parent comment

Re:Netherlands must ban cryptocurrencies immediately: CPB head by graeme on Friday June 11, 2021 @09:58AM (#27473390)
Try steelmanning it. Their argument is that crypto is as worthless as an investment with Bernie Madoff. Therefore, the Netherlands should exit early so its citizens aren’t left holding the bag.

That’s their claim to argue against.

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Re:Netherlands must ban cryptocurrencies immediately: CPB head by X6S1x6Okd1st on Friday June 11, 2021 @11:33AM (#27474712)
It's basically if you've ever read about MMM[1] and thought: Why didn't the government do anything? That's the kind of thought process they are likely in.

Of course in my opinion Madoff & MMM are fundamentally different than cryptocurrencies[2] because there isn't someone at the top who can hide what is happening or issue new coins. Arguably what is happening with Tether might be similar, but that's a very specific thing that you try to target with government intervention instead of blanket banning.

[1]: https://en.wikipedia.org/wiki/MMM_(Ponzi_scheme_company)

[2]: to be clear there are ponzi/madoff schemes in crypto, plenty actually, but if you weight by retail exposure to them they are not that common

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Re:Netherlands must ban cryptocurrencies immediately: CPB head by rho4 on Friday June 11, 2021 @11:16AM (#27474509)
Steelmanning. Nice, learned something. I like it.
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