Classic story of faddish stupidity.
The Australian stock market had a smoothly functioning computer system. This means it was written in COBOL.
Smoothly functioning == COBOL.
So they decided to make it COOL instead of COBOL.
What’s really really cool? Bitcoin! They spent 7 years and untold millions of dollars fucking around, trying to develop a COOL replacement for COBOL. Eventually they found out. Bitcoin is not money, it’s not finance, it’s not ANY FUCKING THING AT ALL. It’s just an array. Even worse from the viewpoint of a stock exchange, Bitcoin is INHERENTLY FINITE. It slows down more and more as the array gets full.
Now the Australian finance regulator is suing the stock exchange over false statements.
Why didn’t the regulator step in at the start, to prevent the exchange from wasting money and possibly ruining the economy?
Polistra's Mill 