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>And once you entered the game, the only way for you to not lose money is to find a greater fool who will take over your crypto"currency", everyone who owns som
by 127 5y ago
>And once you entered the game, the only way for you to not lose money is to find a greater fool who will take over your crypto"currency", everyone who owns some becomes a proponent of it. It's an ingenious scam.
Yes, that's the current pension system.
- chx 5y agoIt is not. There are many significant differences: 1. There's no set of players who are guaranteed to win 2. There's no set of players who are guaranteed to lose 3. No one is set to gain by advocating for the "current pension system".
- lukeramsden 5y ago> 1. There's no set of players who are guaranteed to win Pension fund managers are guaranteed to win, and they win more as life expectancy goes down. > 2. There's no set of players who are guaranteed to lose Literally everybody else loses, as inflation eats away at the buying power of older peoples' ongoing or soon-to-start pension payments, and young people pay in to a system that there is now no guarantee they will earn from in 40 years time. > 3. No one is set to gain by advocating for the "current pension system". Plenty of people stand to gain, see above, as well as politicians interested in protecting the status quo and electability above all else.
- chx 5y agoYou have a political axle to grind, fine, but that's not relevant to the discussion here. Maybe the current US pension is set up like this, maybe not, that's debatable perhaps. But it's not an inherent feature of the systems everywhere unlike the problem with crypto"currencies".
- paulryanrogers 5y ago> Yes, that's the current pension system. If benefits-defined pensions are any indicator then both are unsustainable, and certainly not the future.