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Crypto is a solution to a whole host of problems that don't really exist. Fiat isn't in trouble, capitalism is - hypergrowth cannot continue forever, especially
by DanHulton 5y ago
Crypto is a solution to a whole host of problems that don't really exist. Fiat isn't in trouble, capitalism is - hypergrowth cannot continue forever, especially given how we're running up against the limits of our ecology, and yet capitalism as we've become dependent on it is itself dependent on hypergrowth.
Crypto is just another arm of capitalism, subject to those same problems and more of its own making. Crypto is going to need "just ten more years to take off" for long enough for us to completely fuck up this planet, and by then this little pissing match will be completely irrelevant.
- gfodor 5y agoCanada literally just froze bank accounts without due process, and the West did the same effective thing at a country-level scale against Russia. I don't blame people who were skeptical of the ideas in the beginning, but as BTC sits at $40k, with entire countries adopting it as legal tender, with ~15% inflation in the US, and with financial war (civil and internal) breaking out at increasing scope and scale, it boggles the mind people can still write such dismissive takes without at least pausing for a moment to consider if they've made an error. The development of trustless globally agreed upon ledgers is as big of a development as the printing press and gunpowder, and it's fundamentally tragic that smart people are so wrapped up in cynicism they're still determined to ignore it and not help direct it in a positive direction.