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Comment by ForHackernews | Hacker News Reader

Be your own bank! (tm)

The fact that cryptocoin exchanges decide to offer leveraged trading options that mirror other popular financial instruments doesn't change bitcoin's core values.

This just underscores the fact that the cryptocoin economy contains many agents that don't have the ideology that quite lines up with the early proponents. IMO, that's not necessarily a bad thing.

At one point some exchanges were offering 500x leverage! It just adds instability to the market which is a bad thing if you are pursuing those core values.

On the contrary, I think "an unregulated market where none of the participants trust each other" is a good summary of the ideology of bitcoin's early proponents.

> The fact that cryptocoin exchanges decide to offer leveraged trading options that mirror other popular financial instruments doesn't change bitcoin's core values.

It's indicative of a change, and it can be reasonably argued that Bitcoin's original core values have already changed signficantly.

He is trolling.

I think in this case the correct burn on the cryptocurrency-libertarian ideology is "but a rational actor would never do that"

All actors seem to behaving rationally to me. Just because some people dont like the outcome doesn’t mean anyone acted irrationally at any point.

I think the Bitcoin ecosystem reacted exactly as it should as all actors involved in the fiasco got exactly what they deserved.

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