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Some people throw hissy fits about how polluting cryptocurrencies supposedly are yet they remain silent about the perverse incentives that spurred their creatio
by kemonocode 5y ago
Some people throw hissy fits about how polluting cryptocurrencies supposedly are yet they remain silent about the perverse incentives that spurred their creation and use. It's the war on drugs all over again, and getting angry about crypto and trying to outlaw it is just treating a symptom and not the disease.
- Jyaif 5y agoCan you elaborate on the perverse incentives that spurred cryptocurrencies?
- imtringued 5y agoThe Fed failed to create inflation and that means low interest rates. The Bitcoin bugs are saying that the real reason is that the purchasing power of the dollar is eroding, but in reality it is too stable.
- mateuszf 5y agoIt seems stable if you measure with CPI inflation, but then check real estate prices, healthcare and education prices, stock prices.
- machiaweliczny 5y agoYeah so inflation is only on suff owned by rich (thus giving them more money) while normal folks have food and energy sources subsidised so they don't revolt and labor costs don't rise. Now you know who controls the government. This gap in real demand expression is skewing markets and might backfire. IMO workers are beeing ripped off by finance class and recently quite hard. So I support some kind of better money. Beside this higher land & property ownership tax and reduced work hours might help IMO.
- mateuszf 5y agoI guess OP means long term declining interest rates and their effect on wealth distribution.