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People with 200k in savings in any currency, and making less than .25%, are being scammed. People holding a currency which depreciates, and their cost of livin

by tata71 5y ago

People with 200k in savings in any currency, and making less than .25%, are being scammed. People holding a currency which depreciates, and their cost of living increases, are being scammed.

howinteresting 5y ago
Some degree of inflation is a really good thing for the health of an economy, as is the ability of central banks to create money as stimulus in hard times.
- tata71 5y ago
  Is this highschool economics? You're ready to keep trusting the people government has put in charge of the money? (Private corps, via lobbying and central banks, more)
ShamelessC 5y ago
I don't know how to respond to these types of arguments. For now, here's a comment I made elsewhere on HN earlier today explaining why: > There are many crypto-enthusiasts for whom no level of rigor [counter to crypto] will ever satisfy them despite being obsessed with various "whitepapers" which are mostly marketing fluff. They endlessly defer to various whataboutism's until you find out they are taking an inherently political position (usually some sort of neo-libertarian) and hence the "merits" of the proposed currency _really_ only apply to people who are disenfranchised by existing economic systems. Usually, little is said of how to improve existing systems as that challenges the notion that the status quo is so flawed that it needs to be replaced wholesale. Any idea how to refute crypto to these folks?
- tata71 5y ago
  > Any idea how to refute crypto to these folks? Become similarly disenfranchised, or perhaps study the > $1.5T worth of users who are — instead of arguing, and telling them they're wrong (they don't care — why?). That may help.
  - ShamelessC 5y ago
    > $1.5T worth of users Is that money divided evenly amongst the users? > they don't care — why? The incumbents stand to make money by denying the existence of a scam, whether they are involved or not.

by tata71 5y ago

People with 200k in savings in any currency, and making less than .25%, are being scammed. People holding a currency which depreciates, and their cost of living increases, are being scammed.

howinteresting 5y ago

Some degree of inflation is a really good thing for the health of an economy, as is the ability of central banks to create money as stimulus in hard times.

tata71 5y ago
Is this highschool economics? You're ready to keep trusting the people government has put in charge of the money? (Private corps, via lobbying and central banks, more)

ShamelessC 5y ago

I don't know how to respond to these types of arguments. For now, here's a comment I made elsewhere on HN earlier today explaining why: > There are many crypto-enthusiasts for whom no level of rigor [counter to crypto] will ever satisfy them despite being obsessed with various "whitepapers" which are mostly marketing fluff. They endlessly defer to various whataboutism's until you find out they are taking an inherently political position (usually some sort of neo-libertarian) and hence the "merits" of the proposed currency _really_ only apply to people who are disenfranchised by existing economic systems. Usually, little is said of how to improve existing systems as that challenges the notion that the status quo is so flawed that it needs to be replaced wholesale. Any idea how to refute crypto to these folks?

tata71 5y ago
> Any idea how to refute crypto to these folks? Become similarly disenfranchised, or perhaps study the > $1.5T worth of users who are — instead of arguing, and telling them they're wrong (they don't care — why?). That may help.
- ShamelessC 5y ago
  > $1.5T worth of users Is that money divided evenly amongst the users? > they don't care — why? The incumbents stand to make money by denying the existence of a scam, whether they are involved or not.