Stefan Molyneux Makes My Point

While I recommend watching the whole video, this particular article is relevant to the period from 2:12:30 - 2:13:55 in the video below.

http://www.youtube.com/watch?v=HmH0E95xXcQ

I agree with Stefan about half the time, and lots of other people are even bigger fans of his. For that reason I want to take a moment and brag, pointing out that he makes a point here which I had earlier made, bringing disagreement from many, although it is a fully valid point.

The point Stefan made on March 6 is the same as the point I made back in February: <a href="http://www.afterecon.com/economics-and-finance/mt-gox-failure-good-thing/">The failure of Mt Gox is a good thing. One other thing I would say is that my reasoning was far more specific. Molyneux says that the Mt Gox collapse is the market weeding out the idiots. This is true, but I also specifically point out the social mechanisms through which this occurs, rather than only (but accurately) referring to 'the market.'

Here is the other video from the Texas Bitcoin Conference in case you are interested:

https://www.youtube.com/watch?v=oQTM8NkbIVw