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This is pretty much one of Matt Levine's takes on all of crypto, and just the rampant financial speculation that has taken place in general since the beginning
by rjbwork 5y ago
This is pretty much one of Matt Levine's takes on all of crypto, and just the rampant financial speculation that has taken place in general since the beginning of 2020 - people bored and stuck at home are willing to throw away money to be part of a funny internet joke.
- seoulmetro 5y agoActually the underlying point is that, if you have ever been poor before, and you're living around lots of people in developed worlds now, you'll come to realise that everyone is so damn wealthy right now. We can shell out $$$ on things that are so materialistic, so consumable, so unnecessary just for our own use. People keep complaining about wealth, and such. But the truth is, average people are the richest they have ever been. And it's so apparent. It could all just be a credit/debt mirage. But the poor choice spending is definitely there.
- antifa 5y ago> you'll come to realise that everyone is so damn wealthy right now. No, poverty is still rampant. Inequality is still rising. Rich people just need literally anything to blow their money on, as long as it's not actually helping poor people.
- seoulmetro 5y agoI didn't say poverty didn't exist. Inequality wasn't mentioned either. I mentioned that the average wealth of a person is rising. Which is true. The only thing rising faster than it is housing. >Rich people just need literally anything to blow their money on Yes, because there are more of them. And less poor people. If you still can't understand, think of it not as a class system change, but a benefits to nearly-all classes addition.