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no buying amazon stock pre profit wasn’t a ponzi. because actual value was being created and there is even physical assets backing the value. and presumably so
by ffggvv 5y ago
no buying amazon stock pre profit wasn’t a ponzi. because actual value was being created and there is even physical assets backing the value. and presumably some future cash flow to justify the current price.
(which it has more than justified)
crypto has none of this
- thebean11 5y ago> crypto has none of this It's pretty easy to think of a counterexample to this.. Cross border payments, collateralized loans, drugs, gambling, prediction markets, inflation/instability hedge. Whether or not you disagree that crypto is a good solution for any of these, it's pretty wild to claim "zero utility" in 2021.
- jeltz 5y agoI feel the EU did a much better job at solving cross border payments than crypto has. So I would say crypto is really only interesting for illegal stuff in places with working banks. As long as I do transactions within the EU they are easy and cheap. Which is s good thing the EU forced the banks to do.
- thebean11 5y agoI guess technically that's cross border, but not really what I meant.