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What's the lesson? That cryptocurrencies have different risks than other kinds of financial technologies? I think that is pretty commonly understood already.
by shawnz 8y ago
What's the lesson? That cryptocurrencies have different risks than other kinds of financial technologies? I think that is pretty commonly understood already.
- kadendogthing 8y agoIn the same way that eating raw meat has "different risks" than eating cooked meat.
- bdcravens 8y agoAmong the crypto currency enthusiasts, sure. But each wild bull ride there are new investors/victims who are following the headlines, not the industry.
- csa 8y ago> That cryptocurrencies have different risks than other kinds of financial technologies? These are known risks that have regulations that significantly reduce the chance of them happening in regulated currency markets and banks. Cryptos took the Wild West approach due to... something... and somehow think that the scams that people have used in the past with banks will not be used again with crypto. SURPRISE!!!
- nonbel 8y ago> "Cryptos took the Wild West approach due to... something... and somehow think that the scams that people have used in the past with banks will not be used again with crypto." The point is that people who make bad decisions will fail before becoming too big to fail. This is in the genesis block of bitcoin.
- shawnz 8y ago> somehow think that the scams that people have used in the past with banks will not be used again with crypto. SURPRISE!!! But nobody thinks that. That's the point I was just making.
- atomical 8y agoFraud is a risk with other financial technologies too.