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The Perfect Take: Monica Martin & Scary Pockets, "Thoughtless"

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Hecuba's daughter2/07/2019 11:37:05 am PST

re: #235 wheat-dogg, raker of forests, master of steam

“We don’t need regulation! The free market will decide!”

[Exchange fails, taking with it millions of investors funds.]

“Why didn’t the Canadian government do something to prevent this!! We’re gonna sue!”

For another example of why libertarianism is total bollocks, look up the Tezos project since its launch in 2017. The Wired account gives a fair assessment of the personalities and philosophies involved, and why the project was almost doomed from the start.

venturebeat.com

wired.com

At its peak, Tezos tokens were trading at $4,000 or so. Now they’re trading around 37 cents. There are at least three class action lawsuits filed by investors.

The wired article was interesting — and included a line that I think explains why none of these libertarian schemes ever truly succeed:

“One of the things that drew the blockchain community together was a commitment to the idea that the whole of human behavior could be interpreted as the pursuit of rational self-interest”