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I think you're missing an important component: > who were requesting withdrawals from their HashFlare account So it was more like a ton of people pay a farmer
by sofixa 4y ago
I think you're missing an important component:
> who were requesting withdrawals from their HashFlare account
So it was more like a ton of people pay a farmer to grow a field of corn, and when they ask for corn in return, the farmer buys corn somewhere else and presents it as from his field. Meanwhile the farmer hasn't planted what they should have, and hopes not too many people ask for their cork or they'll crash.
- londons_explore 4y agoSo the real issue is 'Hashflare did not have sufficient assets to cover balances in all customer accounts'. Akin to 'farmer neither has corn growing nor money to buy corn to fulfil promises to customers' That would be the crime...
- itake 4y agoMy understanding is this farmer was paid to grow food, not buy it from another farmer. The expectation was this farmer would grow new calories (increasing the supply of food for the region). You may argue there is a fixed number of crypto released and thus not fair, but allocating that money towards the open market instead of toward hardware and energy company has an impact on the crypto's value.