In economics, this is an information asymmetry problem if I'm not mistaken: http... | Hacker News

Hacker News new | past | comments | ask | show | jobs | submit

login

davidw on March 4, 2014 | parent | context | favorite | on: Flexcoin is shutting down

In economics, this is an information asymmetry problem if I'm not mistaken:

http://en.wikipedia.org/wiki/Information_asymmetry

In other words, the people selling the bitcoin services know more about their own security than users do.

stanleydrew on March 4, 2014 [–]

Yes, but it is a little different than the traditional used car "lemon" information asymmetry problem, since there is an ongoing relationship and the reputation effects are much stronger.

Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact