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Re: [tlug] [OT] Mt.Gox Debacle. Please Comment.



On 26/02/2014 02:09, [SCA] SCHWARTZ, Fernando G. wrote:
My feeds flooded today by Shibuya-based, Mt.Gox debacle. If there is one
topic I would learn everybody's opinion is BitCoin.

http://www.antipope.org/charlie/blog-static/2013/12/why-i-want-bitcoin-to-die-in-a.html

This was *before* it crashed the other 50%.

> Because that's one tech initiative to change the world for the better.

[Citation needed]

> What you guys think about Mt.Gox

So you invent a distributed peer-to-peer currency which doesn't require trusting a centralized institution, and what's the first thing everyone does?

I think BitCoin (the market) will naturally learn how to segregate
people in need of "adult supervision".

Yes, the deregulated invisible hand of the market is extremely efficient at moving money from the 99% to the 1%, which is precisely what has happened in the case of Bitcoin. ( https://bitcointalk.org/index.php?topic=51011.0 )

There's a reason the nickname for them is "Dunning-Krugerrands."


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