Bitcoin exchange compromises to-date feel like a pretty good argument for the old school money transmitter systems...
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@bascule You realize you are making this argument in the aftermath of the biggest traditional bank heist in history?@mentalguy -
@bascule@mentalguy P.S. I'm drinking alcohol right now do my arguments may be even less accurate than usual. -
@zooko I'm drinking alcohol too... but MyCoin seems worse? -
@bascule For a ponzi, it wasn't any great shakes! MMM may have stolen $10B. The Albanian 90's Ponzi ended the gov't. https://en.wikipedia.org/wiki/List_of_Ponzi_schemes … -
@bascule So just to reiterate, this "Bitcoin" ponzi (MyCoin) is bigger than this fiat banking heist, but smaller than many fiat ponzis. -
@zooko running tally instead of individual data points would make for a more useful comparison... -
@zooko ...should probably be adjusted for GPV too. Bitcoin economy is about the same size as Square
End of conversation
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@bascule not really, they just have to fund a ballsy underwriter. I hear@standardpoors still rates Bear Stearns AAAThanks. Twitter will use this to make your timeline better. UndoUndo
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@bascule “like SWIFT, but more expensive and without any revocation or regulation”Thanks. Twitter will use this to make your timeline better. UndoUndo
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