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I’m not libertarian at all. I see cryptocurrency as a fair and transparent way out of the extreme wealth inequality we see in the world today. Decentralizatio
by Mistletoe 5y ago
I’m not libertarian at all. I see cryptocurrency as a fair and transparent way out of the extreme wealth inequality we see in the world today. Decentralization gets me excited. New ways of using technology gets me excited.
- cuteboy19 5y agocryptocurrencies are not going to solve extreme inequality. they are a transparent way to transfer wealth from new investors to early investors (aka ponzi scheme)
- epinephrinios 5y ago"A Ponzi scheme is an investment fraud that pays existing investors with funds collected from new investors" Sorry to burst your bubble, but cryptocurrency does not work this way. Your reasoning can be applied to any asset, for example, a shitty house in California that is now worth $1M.
- codebolt 5y agoA non-inflationary currency promotes hoarding. The biggest whales in crypto own a huge chunk of the total supply, even more so than in our current fiat system. How you think such a system does anything but worsen wealth inequality is a mystery to me.
- bbddg 5y agoThere's no magic bullet for solving a problem like wealth inequality. It's a political problem that requires a political solution. I'd also imagine that crypto ownership is massively concentrated in the top 10% wealthiest people anyways.