
Rabbit Hole Recap #227: FTX was a Ponzi and held no bitcoin... who's next?
Rabbit Hole Recap
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Bitcoin Trading
I don't think he fully understood the repercussions. And I think also he didn't realize the level of contagion that would blow back on him as well. It's pure capitalism to a degree. This is what happens in freeish markets. The freest market is actually proof of work in the conversion of energy to Bitcoin. That's the freest market we've ever seen in humanity. But this is what happens when you don't have backstops or circuit breakers. Yes, it's true free marketing. It's survival of the fittest.
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