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This is an amazingly cynical take. I mean, I wish you all the luck in the world in your attempt to get rich, but you're making a bet that the global economy is
by nonameiguess 6y ago
This is an amazingly cynical take. I mean, I wish you all the luck in the world in your attempt to get rich, but you're making a bet that the global economy is going to collapse, in part aided by a pandemic, and rather than doing anything to help, the world's wealthy are going to opt out of using their wealth to help anyone in favor of hoarding bit patterns on hard drives in their dragon caves. I don't think I want to live in a world where the rich are inventing new ways of evading taxes as their countries collapse from ecological disaster, especially when those ways of evading taxes are contributing to ecological disaster.
This seems destined to go about as well as all the Spanish and Portuguese who plundered the New World for centuries in their attempts to hoard real gold as their empire faded into the dustbin of history and mercantilism and then capitalism took over and the world realized actual wealth involved making useful things, not holding onto deflationary fixed supply assets for dear life.
- 67868018 6y agoI don't like where the world is heading either, but let's get real: JP Morgan is on board, now advising their investors to join in (and the bank behind Coinbase) Fidelity is on board Morgan Stanley is on board Visa, MasterCard AMEX has been using crypto to get best possible currency exchange rates for a couple years Coinbase has a healthy relationship with the SEC and is about to get their banking charter approved for their own direct FDIC insurance, as well as IPO soon Getting money out is NOT hard. This is not a meme.
- ac29 6y agoJP Morgan: has released a laughable whitepaper, and purchased zero bitcoin Fidelity: Provides custody services for a fee, hasnt directly invested Morgan Stanley: Provides custody services for a fee, hasnt directly invested Visa, MasterCard: have made some press releases, but dont appear to actually do anything yet AMEX has been using crypto to get best possible currency exchange rates for a couple years: source? couldnt find any evidence of this Coinbase has a healthy relationship with the SEC: healthy enough to earn them a $6.5M fine for illegal wash trading yesterday