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And which lessons were learned?

Bitcoin was one important lesson learned and implemented. Can't think of much else.

genesis%20block.jpg
 
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kumar

Well-known member
a big culprit is the corporate culture of not being allowed to say 'I don't know' that's seeped into the rules of institutions. In the end, it's just employees answering to bosses who demand a bottom line conclusion. Was it going to be a crisis or not? It probably wouldn't, right, and we need an answer, so let's just say it's not gonna come up here. Everyone else is saying the same. Nobody has time for a detailed layout of probabilities and contingencies. Move on.

its curious that of all the oratory standards for elected officials which seem to have been tossed in the meat grinder these last few years that kind of "telling it like it is" in the form of saying you havent really got a clue doesn't seem to be an option for some reason
 

baboon2004

Darned cockwombles.
Yeah, aka people in power didn't learn and the public didn't learn what happens when they allow the right to rise. It's the same thing over and over.

in recent memory yes, but the most profound shocks of all produced positive things too - eg WWII and the NHS and the post-war social contract
 

IdleRich

IdleRich
Bitcoin was one important lesson learned and implemented. Can't think of much else.
It's crashing at the moment though... why is that? Traditionally in times of strife money flows out of most securities and into those which are seen as universally safe and immune to a massive crash - normally dollars and gold. Kinda weird cos the US is a mess now and, if there is a real serious collapse, what use is gold? I would have thought that Bitcoin might benefit from this as paranoid tech-heads fled to it.
I noticed that the pound has fallen vs the euro quite significantly, is that cos the world can see all those pictures of everyone in Broadway Market and Tescos and thinks that we're fucked?
 

baboon2004

Darned cockwombles.
i'm not sure they think the tories will improve their lives so much as they see some of their worst feelings reflected in them
 
It's crashing at the moment though... why is that? Traditionally in times of strife money flows out of most securities and into those which are seen as universally safe and immune to a massive crash - normally dollars and gold. Kinda weird cos the US is a mess now and, if there is a real serious collapse, what use is gold? I would have thought that Bitcoin might benefit from this as paranoid tech-heads fled to it.
I noticed that the pound has fallen vs the euro quite significantly, is that cos the world can see all those pictures of everyone in Broadway Market and Tescos and thinks that we're fucked?

One theory is that it crashed because bitcoins were used as massively-leveraged (100x) collateral on certain exchanges (Bitmex mainly). There were margin calls and BTC positions were liquidated as a result. It crashed horribly but then soared a few hours ago on USA "infinite QE" news. I think it'll come out of all this looking good and more valuable than ever.
 

pattycakes_

Can turn naughty
Bitcoin was one important lesson learned and implemented. Can't think of much else.

genesis%20block.jpg

What do you think bitcoin has achieved? While great on paper it's still very much centralised by the early adopters who have thousands if not millions from mining in the early days. Enabling them to manipulate the market however they like
 

kumar

Well-known member
one thing that remains to be seen is whether the it won't happen to me psychological shield that droid mentioned could increase our sympathy with refugees fleeing warzones and droughts or give us the conviction of having "seen some real shit" which erodes our empathy
 
What do you think bitcoin has achieved? While great on paper it's still very much centralised by the early adopters who have thousands if not millions from mining in the early days. Enabling them to manipulate the market however they like

Went into this at length in another thread but I very much recommend reading The Bitcoin Standard by Saifedean Ammous if you're interested in what money is and why bitcoin is significant. It was explicitly designed for this class of crisis.
 
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luka

Well-known member
Even something like he new populism or whatever is really only an ability to win what are still quite tight elections for the most part. We haven't all turned Nazi.
 

IdleRich

IdleRich
Remember that weird story about how Apple paid a load of tax to Ireland and they said they didn't want it... presumably thinking it more advantageous for them to keep Apple sweet with a friendly tax regime than to have fourteen billion euros or whatever it was. Anyway, seems the money has been held in escrow with each side demanding the other takes it... and now they are seriously considering using it to fund the response.
 

droid

Well-known member
FG fuckers spent millions fighting in court for apple to keep the money too. Its a big deal here.
 
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