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There's something very poetic about this, as the similarities of diamond cartels [1] and cryptocurrencies [2] effectively granting a small amount of people the
by 0wing 9y ago
There's something very poetic about this, as the similarities of diamond cartels [1] and cryptocurrencies [2] effectively granting a small amount of people the control the majority of supplies of artificially constrained assets both of which have vastly inflated prices relative to production costs.
[1] https://en.wikipedia.org/wiki/De_Beers#Diamond_monopoly https://en.wikipedia.org/wiki/De_Beers#Diamond_monopoly
[2] http://www.businessinsider.com/bitcoin-inequality-2014-1 http://www.businessinsider.com/bitcoin-inequality-2014-1