Post Independence, Army wanted to select the most experienced Indian commander as Army chief. But Nehru without consulting anyone appointed Gen Rob Lockhart, a senior British Army officer as the Commander-in-Chief (C-in-C) of the Indian Army.
The next day emergency meeting was called to select the new Army Chief. Prime Minister Nehru chaired the meeting which was attended by the then Defence Minister Baldev Singh (YES MAN of Nehru),+
In the meeting Nehru started, “We should appoint a new Army Chief, as Gen Lockhart had resigned from the post. I consider that+
Everybody in the meeting was silent. The army officers felt very humiliated and insulted by Nehru’s words. Def. Minister Baldev Singh immediately+
But there was one man who stood and said “Sir, I have a point….You see sir, we don’t have a man with enough experience to lead a nation too, so shouldn’t we appoint someone from Britain as the first PM+
Annoyed Nehru interrupted and said “Are you saying that you are ready to be the first C-in-C of the Indian Army?”
The entire room stood and applauded the suggestion made by Lt Gen Nathu Singh Rathore. Gen Cariappa was made the first Indian C-in-C of the Indian Army in 1949.
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The benign product is sovereign programmable money, which is historically a niche interest of folks with a relatively clustered set of beliefs about the state, the literary merit of Snow Crash, and the utility of gold to the modern economy.
This product has narrow appeal and, accordingly, is worth about as much as everything else on a 486 sitting in someone's basement is worth.
The other product is investment scams, which have approximately the best product market fit of anything produced by humans. In no age, in no country, in no city, at no level of sophistication do people consistently say "Actually I would prefer not to get money for nothing."
This product needs the exchanges like they need oxygen, because the value of it is directly tied to having payment rails to move real currency into the ecosystem and some jurisdictional and regulatory legerdemain to stay one step ahead of the banhammer.
If everyone was holding bitcoin on the old x86 in their parents basement, we would be finding a price bottom. The problem is the risk is all pooled at a few brokerages and a network of rotten exchanges with counter party risk that makes AIG circa 2008 look like a good credit.
— Greg Wester (@gwestr) November 25, 2018
The benign product is sovereign programmable money, which is historically a niche interest of folks with a relatively clustered set of beliefs about the state, the literary merit of Snow Crash, and the utility of gold to the modern economy.
This product has narrow appeal and, accordingly, is worth about as much as everything else on a 486 sitting in someone's basement is worth.
The other product is investment scams, which have approximately the best product market fit of anything produced by humans. In no age, in no country, in no city, at no level of sophistication do people consistently say "Actually I would prefer not to get money for nothing."
This product needs the exchanges like they need oxygen, because the value of it is directly tied to having payment rails to move real currency into the ecosystem and some jurisdictional and regulatory legerdemain to stay one step ahead of the banhammer.