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The number of crypto social media influencers posting about "20% GUARANTEED annual yields with Stablecoins!" a few months back was ridiculous. Where were the r
by DebtDeflation 4y ago
The number of crypto social media influencers posting about "20% GUARANTEED annual yields with Stablecoins!" a few months back was ridiculous.
Where were the regulators? Every investment advertisement in the real (non-crypto) world includes a "Past performance is no guarantee of future returns. Investing involves risk, including possible loss of principal." disclaimer, but apparently rules don't apply to crypto. It's hard to feel sorry for all of the "hodling to the moon in my Lambo" people but at the same time the government is asleep at the switch here.
- IdEntities 4y agoThe government is going to be happy if a large number of people are sucked into Ponzi schemes which blow up and cause harm to the broader reputation of cryptocurrencies as such.
- pavlov 4y agoTo the libertarians even their own failures are always a result of government conspiracy.
- IdEntities 4y agoI'm not a libertarian, but I can recognize willful dereliction of duty when I see it.
- moistly 4y agoThe government is going to be happy with an expanding impoverished citizenry that can no longer afford to participate in the economy? What a stupid claim.
- IdEntities 4y agoWell, the number of people who will be harmed in these schemes is probably not large enough for them to be worried about any systemic or broader economic risks. The implosion of unregulated and privately issued stablecoins will create the impetus for CBDCs, which have been telegraphed as "on the agenda" for some time. But, in a more pointed answer to your question: yes. https://en.m.wikipedia.org/wiki/Reserve_army_of_labour https://en.m.wikipedia.org/wiki/Reserve_army_of_labour