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> “Axie Infinity and how it’s bringing entire nations out of poverty” https://www.notboring.co/p/infinity-revenue-infinity-possibilities https://www.notboring.c

by yunohn 5y ago

> “Axie Infinity and how it’s bringing entire nations out of poverty” https://www.notboring.co/p/infinity-revenue-infinity-possibilities https://www.notboring.co/p/infinity-revenue-infinity-possibi... No way I can take someone seriously if they think Axie Infinity is saving the Philippines/Vietnam from poverty. Edit: Crypto maximalists don’t understand history, economics, or globalism. All while claiming that crypto will solve for globalised economies and save people from poverty. Do they know why these countries are poor? Do they understand colonialism and modern slave labor? Or that colonising countries dictate the global economy and devalue developing world currencies? And that these countries are poor by design, and their weakened economic status is a result of colonial history? How does a “Play 2 Earn” game that is provably negative sum by making money from fees - where the poor ”scholars” have to rent tokens from the rich “lords” and share 30% of their income with, help the poor come out of poverty? This is crypto colonialism for crying out loud!

deleted 5y ago
[deleted]
Mandelmus 5y ago
See https://news.ycombinator.com/item?id=29716900 https://news.ycombinator.com/item?id=29716900 re:Axie Infinity and the “ saving the Philippines/Vietnam from poverty” bs
cfup 5y ago
I completely agree with you. Crypto bros for some reasons think they are saving the world. The original claim is just pure ignorance. To get start with Axie or other so-called GameFI, players need to have money first. For people with small capitals, they need to participate in 'Guild' and borrow the money from the rich (be it in digital or physical world). So, it is just capitalism all over again. Spending all your time maximizing some games won't save a nation from poverty.
TheMagicHorsey 5y ago
Had the same reaction. Seemed like such a silly thing to say. Does he know what the scale of Axie is and what the scale of national GDPs are? Seems so ridiculous. But I also don't agree with your characterization of developing nation economies. You have your own blinders on. The degrees of freedom a developing country has are constrained ... but not mainly by outside market forces ... more their own internal institutional structures. India was isolated from all Western banking for the main part for a long time. Also insulated from competition from Western companies. That was not a good time for India. Turns out your own institutions can fuck up pretty well on their own. Openness and liberalization of an economy also come with complications but these are not "slave labor" and "colonization". I feel you have been exposed to some ideologies but have not actually tried to manufacture something in a developing country and seen the friction that prevents local economies from leveling up ... its not the EU or America stopping Indian manufacturing from leveling up ... its India's own internal complexities. If it was possible to do what you suggest, Taiwan, South Korea, and now Chinese advanced manufacturing would not exist. Countries just need to get their act together.
- yunohn 5y ago
  A lot of your response assumes I was talking about local manufacturing - but I was specifically talking about poverty and its relation to the globalised economy. Local manufacturing solves some things, not all things. But poverty is a result of innumerable things, of which manufacturing is only a small portion. There is an inherent arbitrage performed by developed economies through outsourcing, and Axie Infinity demonstrates that wonderfully. Obviously the story would never be “GameFi solves poverty in the USA” because it pays well below minimum wage in developed economies. Aside: There is no basis in humanity that foreign currencies are significantly lower in value than western currencies. It’s purely a result of historical economical forces resulting from colonisation.
- bo0tzz 5y ago
  > its India's own internal complexities Many of the 'internal' problems in developing nations root in historical colonialism.
whb07 5y ago
Cringe. The US was a colony to the UK. Singapore was some shanty island town that even Malaysia did NOT want to take in because how bad it was. Just like you cannot have a fit body without exercising, you cannot become a prosperous nation without hard work and a predictable rule-of-law. There is no way around it and to blame "colonialism" is nothing but empty words that will help no one.
- yunohn 5y ago
  > The US was a colony to the UK. Yes, and by that view, the USA is /still/ colonised by Europeans. The colonised Natives are not represented in any meaningful way. > Singapore was some shanty island town that even Malaysia did NOT want to take in because how bad it was. You can feel this way, but that does not justify the colonisation of Singapore by Europe. In fact, it begs the question as to why they would colonise such a “shanty town” if it wasn’t worth something to them. > cannot become a prosperous nation without hard work I’m not sure which fantasy you ascribe to that ignores how much hard manual labor the developing world’s people perform for the global economy. In fact, that is literally the basis of colonialism - to find able-bodied workers to enslave and resource-abundant regions to extract value from. > and a predictable rule-of-law I don’t know why you have such a negative impression of developing lands, to blame them for all their faults and claim they lack “rule of law” entirely. As if this is perfect in developed democracies, and the sole reason for their status. > to blame "colonialism" is nothing but empty words that will help no one. It is important to acknowledge history and not completely ignore it like you have. Regardless, you are right in that “blaming colonialism” helps no one - but that’s because colonisers don’t want to take the blame and fix things, but instead control the global playing field. This affects the poor classes of developing countries too, if you haven’t noticed. Anyways, I get the feeling none of this will educate you, so probably not worth my time.
vanusa 5y ago
Axie Infinity and how it’s bringing entire nations out of poverty Yup, that's quite a zinger there. Seriously, what is with these people? Do they have any idea at all what they're actually saying?

by yunohn 5y ago

deleted 5y ago

[deleted]

Mandelmus 5y ago

See https://news.ycombinator.com/item?id=29716900 https://news.ycombinator.com/item?id=29716900 re:Axie Infinity and the “ saving the Philippines/Vietnam from poverty” bs

cfup 5y ago

I completely agree with you. Crypto bros for some reasons think they are saving the world. The original claim is just pure ignorance. To get start with Axie or other so-called GameFI, players need to have money first. For people with small capitals, they need to participate in 'Guild' and borrow the money from the rich (be it in digital or physical world). So, it is just capitalism all over again. Spending all your time maximizing some games won't save a nation from poverty.

TheMagicHorsey 5y ago

Had the same reaction. Seemed like such a silly thing to say. Does he know what the scale of Axie is and what the scale of national GDPs are? Seems so ridiculous. But I also don't agree with your characterization of developing nation economies. You have your own blinders on. The degrees of freedom a developing country has are constrained ... but not mainly by outside market forces ... more their own internal institutional structures. India was isolated from all Western banking for the main part for a long time. Also insulated from competition from Western companies. That was not a good time for India. Turns out your own institutions can fuck up pretty well on their own. Openness and liberalization of an economy also come with complications but these are not "slave labor" and "colonization". I feel you have been exposed to some ideologies but have not actually tried to manufacture something in a developing country and seen the friction that prevents local economies from leveling up ... its not the EU or America stopping Indian manufacturing from leveling up ... its India's own internal complexities. If it was possible to do what you suggest, Taiwan, South Korea, and now Chinese advanced manufacturing would not exist. Countries just need to get their act together.

yunohn 5y ago
A lot of your response assumes I was talking about local manufacturing - but I was specifically talking about poverty and its relation to the globalised economy. Local manufacturing solves some things, not all things. But poverty is a result of innumerable things, of which manufacturing is only a small portion. There is an inherent arbitrage performed by developed economies through outsourcing, and Axie Infinity demonstrates that wonderfully. Obviously the story would never be “GameFi solves poverty in the USA” because it pays well below minimum wage in developed economies. Aside: There is no basis in humanity that foreign currencies are significantly lower in value than western currencies. It’s purely a result of historical economical forces resulting from colonisation.
bo0tzz 5y ago
> its India's own internal complexities Many of the 'internal' problems in developing nations root in historical colonialism.

whb07 5y ago

Cringe. The US was a colony to the UK. Singapore was some shanty island town that even Malaysia did NOT want to take in because how bad it was. Just like you cannot have a fit body without exercising, you cannot become a prosperous nation without hard work and a predictable rule-of-law. There is no way around it and to blame "colonialism" is nothing but empty words that will help no one.

yunohn 5y ago
> The US was a colony to the UK. Yes, and by that view, the USA is /still/ colonised by Europeans. The colonised Natives are not represented in any meaningful way. > Singapore was some shanty island town that even Malaysia did NOT want to take in because how bad it was. You can feel this way, but that does not justify the colonisation of Singapore by Europe. In fact, it begs the question as to why they would colonise such a “shanty town” if it wasn’t worth something to them. > cannot become a prosperous nation without hard work I’m not sure which fantasy you ascribe to that ignores how much hard manual labor the developing world’s people perform for the global economy. In fact, that is literally the basis of colonialism - to find able-bodied workers to enslave and resource-abundant regions to extract value from. > and a predictable rule-of-law I don’t know why you have such a negative impression of developing lands, to blame them for all their faults and claim they lack “rule of law” entirely. As if this is perfect in developed democracies, and the sole reason for their status. > to blame "colonialism" is nothing but empty words that will help no one. It is important to acknowledge history and not completely ignore it like you have. Regardless, you are right in that “blaming colonialism” helps no one - but that’s because colonisers don’t want to take the blame and fix things, but instead control the global playing field. This affects the poor classes of developing countries too, if you haven’t noticed. Anyways, I get the feeling none of this will educate you, so probably not worth my time.

vanusa 5y ago

Axie Infinity and how it’s bringing entire nations out of poverty Yup, that's quite a zinger there. Seriously, what is with these people? Do they have any idea at all what they're actually saying?