3 ms·
Misleading headline as usual. Borrowing a bunch of money to gamble on Bitcoin, just like borrowing to gamble on anything else, can lead to a meltdown. The real
by ilaksh 5y ago
Misleading headline as usual. Borrowing a bunch of money to gamble on Bitcoin, just like borrowing to gamble on anything else, can lead to a meltdown.
The reality is that the financial world operates on about the same level as a sportsbook or racetrack. Except for some insane reason we treat the traders and hedge fund managers like priests instead of bookies and addicts.
One thing that people will figure out eventually is that cryptocurrency at least makes it hard to hide all of the borrowing and side bets.
Edit: thought about it for a minute, sportsbooks and racetracks are much more honest than the global financial system.