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Crypto Meltdown Exposes Hollowness of Its Libertarian Promise
- PaulHoule 4y agoI am LMFAO at this headline from the "Capitalist Tool" (a phrase used in their own marketing) Wall Street Journal.
- secretsatan 4y agoLuckily they hide the content behind a paywall. Much like how i dream of web3, everything should be behind a paywall, god i admire them!
- h2odragon 4y agoLet's say "the state" saw promise in crypto and therefore threat to its monopoly power over money. How best to counter the threat? Forbidding things makes them sexy... How about let's foster an ecosystem of horribly transparent scams and predatory behavior on top of it? If we can spread enough shit over it, no one will want to use it, and the potential will be safely buried. See also 4chan.
- mikestew 4y agoAm I reading you correctly in that you propose that the scams, et. al., are a conspiracy of The Man to tarnish the good name of cryptocurrencies? Seems the more simple explanation is that if there's money involved, the scammers will come a'knockin'.
- zardo 4y agoThe state choose not to keep a clean well regulated market. But then keeping out regulation is exactly what the cryptopromoters and scammers wanted.
- secretsatan 4y agoCoz, like, the world is full of good intentioned people, but there are some evil ones, but it’s ok, they def only work for the state?
- deleted 4y ago[deleted]
- kelseyfrog 4y agoThis is actually a good thing - it's a feature not a bug. You can think of crypto as a pressure relief value for banking deregulation/DeFi advocates. Instead of spending their time and energy in changing the current system of central banks, they can focus their efforts in building and chasing complex crypto systems, schemes, and gains. Moreover, it's a convenient social proxy. A person's participation in cryptocurrency is a strong signal in deciding my willingness to continue engaging with them. It was much more awkward before when we had to watch out for dog whistles and coded language. Crypto-enthusiasts on the other hand, are eager to display their interest and generally seem unabashed. It makes the entire process much more efficient.
- Proven 4y ago[dead]
- webmaven 4y agohttps://archive.ph/lqPk4 https://archive.ph/lqPk4
- cuteboy19 4y agoThere is a sentiment among crypto folks that Tether is too big to fail at this point. We have come full circle!
- papito 4y agoI mean, this sort of craving for "no rules" stems directly from a stretch of a very, very comfortable life. Ask a libertarian why the Great Depression escalated. "It's because the Fed!" Except that it was the kind of libertarian paradise that is the crypto market now. People's money just disappeared. There was no proper oversight or ways to stop people from losing all of their money.
- jqpabc123 4y agoAll government has to do to kill crypto is --- nothing. Just sit back and watch it collapse under it's own weight of corruption and disinformation and anti-establishment rhetoric. Do not regulate, do not bail out --- just watch and wait.
- mdotk 4y agoIt's step in step with the Nasdaq. Should we cancel that too?
- cyanydeez 4y agoNasdaq represents the value of companies that produce products. Crypto produces....
- papito 4y agoThousands of years ago, people decided to stop living like animals and form a civilization. Let's make norms, rules, and institutions, they said, so we don't have to lose our minds amidst the natural uncertainty, so we can plan our lives and families. Then the "small government libertarians" came along. Notice these are usually the Peter Thiel types, who are already well-off and directly benefit from a castrated government and fewer rules. The type of guy who thinks speed limits are cramping his style. https://nymag.com/intelligencer/article/peter-thiel-silicon-valley-contrarian-max-chafkin.html https://nymag.com/intelligencer/article/peter-thiel-silicon-...