I think the metaphor is a stretch, especially when applied to Bitcoin. There were many factors which played a part in the financial crisis, including the follow

I think the metaphor is a stretch, especially when applied to Bitcoin. There were many factors which played a part in the financial crisis, including the following non-exhaustive list which were not mentioned is the essay: - By bailing out big banks and other institutions, the government signaled to these institutions to pile on risk because they'd just be saved by the government when things went bad - Policy which gave incentives for risky mortgages under the intention of helping the poor - Tax policy continuing to give incentives for people to buy houses instead of renting