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These days it is about anything can meme and get people to make fomo-driven buys of crypto at spot prices. It used to be about decentralized peer-to-peer money
by DSingularity 5y ago
These days it is about anything can meme and get people to make fomo-driven buys of crypto at spot prices.
It used to be about decentralized peer-to-peer money that is highly resistant to censorship.
Then that got blown to bit because satoshi didn’t possess enough foresight to realize that one day it will get owned by a handful of people who will leverage the artificial scarcity to conduct endless pump-and-dumps to enrich themselves at the expense of the poor.
How do you think Satoshi would have reacted to the current state of affairs? You think he would see this “cryptocurrency” space as the path to solving the problem of money and corruption in finance?
- jshen 5y agoIt’s almost like the finance system we have today is the result of complex adaptation. It’s not perfect, but it seems less corrupt, more stable, more approachable, and more useful than the crypto space.
- DSingularity 5y agoDefinitely. Cryptocurrency had a chance to be very useful (to society) in a niche but then it blew up in scope. Now, everyone seems to have missed the forest for the trees. You can’t fix fundamental problems in modern economics by fixating on the properties of money which can be altered (presumably for the better) through technology?