Nouriel Roubini's 7 Cs of crypto. Some FTX thoughts.
Pondering if I should write something about FTX, I fell on this recently posted Nouriel Roubini's 7 Cs of crypto , which he states as: Concealed Corrupt Crooks Criminals Con man Carnival barkers C... with response here Should we add: Credulous Careless Childlike ... Yet all of these have positive roots: Privacy Liberty Freedom Independence Society Economy Entrepreneurs Optimism Adventurous Youth ... We might call that first extended Roubini list the crypto-challenge list, and that second, the crypto-potential list. A challenge is that most of us learn to appreciate the crypto-potential list before we learn how to avoid the crypto-challenge list. Ranting about the crypto-challenge list does not help. And in many cases, much experience is needed to develop strategies to address the crypto-challenge list. A bigger challenge is that risk management is done by projecting past negative events into future possibilities. Part of the game of fraud is to reca...