re: #106 No Malarkey!

From the CNBC article about BTC dropping below $20 000…

Ryan Shea, an economist at crypto investment firm trakx.io, said the recent stress in digital assets was the “crypto market equivalent of natural selection.”

Absent a central bank, the onus is on firms operating in the space to be responsible and those that aren’t (i.e., excessive leverage, poor risk management, poor security etc) will not succeed,” Shea said in a research note Friday.

“This process is without doubt painful, but ultimately the lack of a centralized backstop is a good thing as it means moral hazard is avoided because there are no bailouts in crypto unlike in the fiat system.”