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>Even if the doubters aren't able to exit without taking a loss, the risks of the cryptocurrency losing value should still provide a strong incentive for good m
by Qwertious 5y ago
>Even if the doubters aren't able to exit without taking a loss, the risks of the cryptocurrency losing value should still provide a strong incentive for good management by those who hold a lot of it.
Note that the same argument can be used to demonstrate that monarchy works - i.e. kings have no incentive to mismanage their country, as they'd be crippling their own finances.
- dane-pgp 5y agoI think that the switching costs between a monarchy and a republic are much higher than the switching costs between Bitcoin and Ethereum. Monarchs and currency regulators and social networks and operating systems tend to get away with as much mismanagement as their monopolies allow.