What a great lesson for the FREE MARKET.

westkybitcoins

legendary

Activity: 980

Merit: 1004

Firstbits: Compromised. Thanks, Android!

Quote from: hugolp on August 06, 2011, 11:53:35 PM

Quote from: evoorhees on August 06, 2011, 11:47:12 PM

Is the "great lesson" that people will tend not to use a service after it defrauds them? Seems the free market works after all, no?

The problem is that we are so used to being scammed from our institutions on legal growns but with controlled trade that we dont know how to behave in a unrefulated market. We are dumbed down and are learning the hard way how to behave in a real market.

+1

With time, even those most resistant to changing how they think about digital money and online transactions will either adapt or move on.

evoorhees

legendary

Activity: 1008

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Democracy is the original 51% attack

Quote from: hugolp on August 06, 2011, 11:53:35 PM

Quote from: evoorhees on August 06, 2011, 11:47:12 PM

Is the "great lesson" that people will tend not to use a service after it defrauds them? Seems the free market works after all, no?

The problem is that we are so used to being scammed from our institutions on legal growns but with controlled trade that we dont know how to behave in a unrefulated market. We are dumbed down and are learning the hard way how to behave in a real market.

That's actually an excellent point.

hugolp

legendary

Activity: 1148

Merit: 1001

Radix-The Decentralized Finance Protocol

Quote from: evoorhees on August 06, 2011, 11:47:12 PM

Is the "great lesson" that people will tend not to use a service after it defrauds them? Seems the free market works after all, no?

The problem is that we are so used to being scammed from our institutions on legal growns but with controlled trade that we dont know how to behave in a unrefulated market. We are dumbed down and are learning the hard way how to behave in a real market.

evoorhees

legendary

Activity: 1008

Merit: 1023

Democracy is the original 51% attack

Is the "great lesson" that people will tend not to use a service after it defrauds them? Seems the free market works after all, no?

FlipPro

legendary

Activity: 1764

Merit: 1015

Quote from: Jack of Diamonds on August 06, 2011, 11:08:11 PM

So after a bit of deliberation, my brain deciphers the fact you are talking about mybitcoin.com.

Why not mention it in the first post instead of causing confusion?

Still, yes, people were naïve to trust the service,
people have already accepted the fact they might not see the money again, life goes on

Lol +1 I thought he was talking about Bitcoin for a second.

Jack of Diamonds

sr. member

Activity: 252

Merit: 251

So after a bit of deliberation, my brain deciphers the fact you are talking about mybitcoin.com.

Why not mention it in the first post instead of causing confusion?

Still, yes, people were naïve to trust the service,
people have already accepted the fact they might not see the money again, life goes on

someotherguy

member

Activity: 94

Merit: 10

Quote from: FlipPro on August 06, 2011, 10:55:46 PM

Quote from: someotherguy on August 06, 2011, 10:40:34 PM

I am sorry to be so harsh, but why would anybody put their commodities/money in a new "bank" with no assets and, no real liability? Furthermore, the "bank" was registered in a "country" notorious for fraud and exclusion from certain aspects of the U.C.C.

This is a new commodity/currency, and while fundamentally sound, it needs to treat secondary services with extreme caution.

Furthermore, this commodity/currency needs to have a...

Do you know what you're talking about?

I think not...

Prove it.

logansryche

sr. member

Activity: 350

Merit: 250

Quote

Do you know what you're talking about?

I think not...

I concur. For a minute there I thought he was talking about me, but now I lol.

FlipPro

legendary

Activity: 1764

Merit: 1015

Quote from: someotherguy on August 06, 2011, 10:40:34 PM

I am sorry to be so harsh, but why would anybody put their commodities/money in a new "bank" with no assets and, no real liability? Furthermore, the "bank" was registered in a "country" notorious for fraud and exclusion from certain aspects of the U.C.C.

This is a new commodity/currency, and while fundamentally sound, it needs to treat secondary services with extreme caution.

Furthermore, this commodity/currency needs to have a...

Do you know what you're talking about?

I think not...

someotherguy

member

Activity: 94

Merit: 10

I am sorry to be so harsh, but why would anybody put their commodities/money in a new "bank" with no assets and, no real liability? Furthermore, the "bank" was registered in a "country" notorious for fraud and exclusion from certain aspects of the U.C.C.

This is a new commodity/currency, and while fundamentally sound, it needs to treat secondary services with extreme caution.

Furthermore, this commodity/currency needs to have a...

Topic: What a great lesson for the FREE MARKET. (Read 1370 times)