Re:That which does not kill Bitcoin makes Bitcoin stronger
by JamisonM on Wednesday February 26, 2014 @05:45PM
(#7308721)
Does the elimination of a large irresponsible player actually offer any new information about how irresponsible the other actors in the market are? I don't think there is any particular reason why that would be the case, I am interested to know how.
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Re:That which does not kill Bitcoin makes Bitcoin stronger
by MarkPNeyer on Wednesday February 26, 2014 @06:18PM
(#7308972)
All of the irresponsible actors involved in the 2008 financial crisis were left intact. They have no incentive not to try this again.
The fall of mtgox shows that in the bitcoin world, failure will lead to death.
Re:That which does not kill Bitcoin makes Bitcoin stronger
by dublinben on Wednesday February 26, 2014 @07:14PM
(#7309309)
>failure will lead to death
But not before you've made millions, and walked away with no repercussions.
Re:That which does not kill Bitcoin makes Bitcoin stronger
by dnautics on Wednesday February 26, 2014 @07:49PM
(#7309479)
It does not directly, but that's not important in markets, what matters is what people believe and how much the believe it. It also helps that it's most likely true anyways.
Re:That which does not kill Bitcoin makes Bitcoin stronger
by JamisonM on Wednesday February 26, 2014 @07:55PM
(#7309504)
This seems to contradict the assertion that this would be true in "rational" markets in the original quote.
Re:That which does not kill Bitcoin makes Bitcoin stronger
by dnautics on Thursday February 27, 2014 @05:33PM
(#7315719)
You can rationally attempt to quantify the effects of peoples wants and desires even if those themselves are not necessarily rational. Note the difference to: "you can rationally attempt to quantify peoples' wants and desires"