> save regulatory capture somehow forcing the rest of society to buy into it. That's what happens, some little scheme gets too big to fail, so the taxpayer bai

> save regulatory capture somehow forcing the rest of society to buy into it. That's what happens, some little scheme gets too big to fail, so the taxpayer bails it out. Those that are in the schemes win, those that felt the scheme was stupid lose. I remember seeing adverts on the London underground for icelandic banks offer 5% more than any other savings account. I chuckled and thought "surely nobody's that gullible". There were many. Both individuals, who got bailed out by me (the taxpayer), and many councils (who lost money which belonged to the taxpayer) For 20 years I laughed at these various get quick schemes. Then I realised that they don't fail. Profits are privitised, losses are socialised, and they taxpayer always loses. When you realise that, you have to look at dodgy schemes in a whole separate light. Sure bitcoin is stupid, but as it gets larger and larger the chance of it failing without bailing out large institutions reduces, meaning the chance of me riding on the coattails increases.