Originally Posted by
psionl0
What is this silliness? We need the government to "protect" us from bitcoin because there are some stupid people around? That is the most pathetic argument against bitcoin ever.
The argument is against the failure of government(s) to regulate. They step in after a crisis they should have seen coming.
Quote:
https://en.wikipedia.org/wiki/South_Sea_Company
...Walpole supervised the process which removed all 33 of the company directors and stripped them of, on average, 82% of their wealth. The money went to the victims and the stock of the South Sea Company was divided between the Bank of England and the East India Company.
...When Sir Isaac Newton was asked about the continuance of the rising of South Sea stock... He answered 'that he could not calculate the madness of people'." He is also quoted as stating, "I can calculate the movement of the stars, but not the madness of men"