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

[Simon Cozens <simon@example.com>]

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."