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This is why crypto is so attractive to libertarians. It requires getting something for absolutely no effort and conflates economic growth with semantic labelin
by browsercoin 8y ago
This is why crypto is so attractive to libertarians.
It requires getting something for absolutely no effort and conflates economic growth with semantic labeling of abstract pseudo academia aimed at the very people whom they are trying to steal money from.
Somebody needs to put together a "Wall of Shame". History will teach us as this period as a "Dark Period" where financial scammers flourished with the help of Russia to launder the very money they took from their people.
- seibelj 8y agoI can't understand anything here. Why would "getting something for absolutely no effort" be attractive to a libertarian? Isn't that more of a left-wing ideal of redistributive societies, where you receive resources regardless of your economic output?
- pjkundert 8y agoLibertarian; I think that word doesn't mean what you think it means... There are many problems with cryptocurrencies in general, and "stablecoins" in particular, but this illuminates none of them. One problem is that the word "stable" in stablecoin conflates two separate concepts; the value-stability of the underlying reference commodity basket, and the stability of the units of the currency vs. the defined commodity basket. These are separate concerns with separate feedback/control loops, and any "stablecoin" that doesn't reflect that is doomed to failure. Users who expect value-stability of the commodity basket in terms of other value references will be especially disappointed; no "stablecoin" I am aware of claims to deliver that. I'm also pretty sure that "libertarians" don't expect others to magically give them such things.