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Self-fulfilling rumours which trigger bank runs can be a distributed phenomena, no one person needs to engineer it. It just needs to start somehow. More import
by harshavr 18y ago
Self-fulfilling rumours which trigger bank runs can be a distributed phenomena, no one person needs to engineer it. It just needs to start somehow.
More importantly, it is possible that most people are wrong on some particular question about a market. If so, a sudden discovery of the truth by the mainstream might lead to a desertion of this market.
- 0x44 18y agoSelf-fulfilling rumours which trigger bank runs can be a distributed phenomena If we were to get rid of the physical token of our monetary value, it would be impossible for a run in one bank to negatively effect all of them. After all, an electronic 'withdrawal' has to go somewhere.