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Gen Z economy. What are you talking about? USD has been fiat since the 70’s

dheera 5y ago
Gen Z economy: - Hype IS value. Investors mostly invest in hype. Bring something of scientific or humanitarian value to the table without some fancy story and they 100% won't invest in that. Doesn't matter if it's stock market public investors or crypto investors or private investors, they all go after the hype, time after time, demonstrating with their wallet that hype IS in fact what they value. - Currencies don't operate around scarcity, and their value is not fully correlated with scarcity, their value is more correlated with the intrinsic value they provide as a product, e.g. dApps and NFTs; USD provides none of that - Manipulation is legal, part of the game rules, embrace it. Manipulation and trick shots are legal in table tennis, too, the only rules are physical. - Money itself is a joke, for the most part - We are in the midst of a revolution in which we are exploring new models for financial governance
- yqe78 5y ago
  Do people really believe this bloviation outside of the cryptocurrency thought bubble? I thought you were trolling until the last bullet. Then I realized you’re serious. Hype is value? (To who?) Money is a joke? Comparing economic security to table tennis? Come on, dude, get real. Those are the exact sentiments that disqualify you from having an opinion on economics worth hearing, not qualify. I’d bet currency you consider worthless that you can’t even discuss the tradeoffs of money and why they were consciously accepted by economists who actually studied their subject and went on to advise and design modern civilizations. Don’t tie these thoughts to a generation as if everyone in the generation expects the outcome you do. I have a hard time believing everyone in Gen Z understands what you’re saying, much less wants what you do. There is no watershed moment for uprooting the world economy that only people of a certain age understand. Revolutions do not happen on Medium. You’re discussing the economy. There are militaries involved. You are interacting with forces far beyond yourself and acting like you have all the answers. Our entire existence is defined by the economy, and rejecting it wholesale is interesting for a blog post but a complete nonstarter for actual reform. Since humans mostly subsist as a product of economies, you realize poor economic reform kills people, right? I’m going to reiterate that last point in clearer terms because it needs to get into that bubble with purpose. Say the world stops being stupid and sees your light. Now you need a phone to eat. Do you think those people you just starved to death are going to go “well, Gen Z economy!” or do you think they’re going to arm themselves and start killing everyone involved? History is a guide here and human subsistence is not something a bit of Go can just fuck with because you say so. Good luck!
  - whimsicalism 5y ago
    It's ridiculous to call anything a 'gen Z' economy when most gen Z aren't of asset-holding age.

Gen Z economy: - Hype IS value. Investors mostly invest in hype. Bring something of scientific or humanitarian value to the table without some fancy story and they 100% won't invest in that. Doesn't matter if it's stock market public investors or crypto investors or private investors, they all go after the hype, time after time, demonstrating with their wallet that hype IS in fact what they value. - Currencies don't operate around scarcity, and their value is not fully correlated with scarcity, their value is more correlated with the intrinsic value they provide as a product, e.g. dApps and NFTs; USD provides none of that - Manipulation is legal, part of the game rules, embrace it. Manipulation and trick shots are legal in table tennis, too, the only rules are physical. - Money itself is a joke, for the most part - We are in the midst of a revolution in which we are exploring new models for financial governance

yqe78 5y ago
Do people really believe this bloviation outside of the cryptocurrency thought bubble? I thought you were trolling until the last bullet. Then I realized you’re serious. Hype is value? (To who?) Money is a joke? Comparing economic security to table tennis? Come on, dude, get real. Those are the exact sentiments that disqualify you from having an opinion on economics worth hearing, not qualify. I’d bet currency you consider worthless that you can’t even discuss the tradeoffs of money and why they were consciously accepted by economists who actually studied their subject and went on to advise and design modern civilizations. Don’t tie these thoughts to a generation as if everyone in the generation expects the outcome you do. I have a hard time believing everyone in Gen Z understands what you’re saying, much less wants what you do. There is no watershed moment for uprooting the world economy that only people of a certain age understand. Revolutions do not happen on Medium. You’re discussing the economy. There are militaries involved. You are interacting with forces far beyond yourself and acting like you have all the answers. Our entire existence is defined by the economy, and rejecting it wholesale is interesting for a blog post but a complete nonstarter for actual reform. Since humans mostly subsist as a product of economies, you realize poor economic reform kills people, right? I’m going to reiterate that last point in clearer terms because it needs to get into that bubble with purpose. Say the world stops being stupid and sees your light. Now you need a phone to eat. Do you think those people you just starved to death are going to go “well, Gen Z economy!” or do you think they’re going to arm themselves and start killing everyone involved? History is a guide here and human subsistence is not something a bit of Go can just fuck with because you say so. Good luck!
- whimsicalism 5y ago
  It's ridiculous to call anything a 'gen Z' economy when most gen Z aren't of asset-holding age.