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Does the elimination of a large irresponsible player actually offer any new information about how irresponsible the other actors in the market are? I don't thin
by JamisonM 13y ago
Does the elimination of a large irresponsible player actually offer any new information about how irresponsible the other actors in the market are? I don't think there is any particular reason why that would be the case, I am interested to know how.
- MarkPNeyer 13y agoAll of the irresponsible actors involved in the 2008 financial crisis were left intact. They have no incentive not to try this again. The fall of mtgox shows that in the bitcoin world, failure will lead to death.
- dublinben 13y ago>failure will lead to death But not before you've made millions, and walked away with no repercussions.
- dnautics 13y agoIt does not directly, but that's not important in markets, what matters is what people believe and how much the believe it. It also helps that it's most likely true anyways.
- JamisonM 13y agoThis seems to contradict the assertion that this would be true in "rational" markets in the original quote.
- dnautics 13y agoYou can rationally attempt to quantify the effects of peoples wants and desires even if those themselves are not necessarily rational. Note the difference to: "you can rationally attempt to quantify peoples' wants and desires"