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So you’re suggesting we just let the financial and auto industries fail? There’s a cost to that too because once again, these industries provide value to societ
by mlazos 4y ago
So you’re suggesting we just let the financial and auto industries fail? There’s a cost to that too because once again, these industries provide value to society. Crypto provides no added value and wouldn’t even solve either of the problems you mentioned. And yes we could horribly replace our currency with it but there are zero benefits to doing that over the current system. The fact is it is not a currency and it is not a business providing value, so you are purely speculating on sentiment, hence it’s a ponzi.
- landemva 4y agoThe owners and creditors of auto industry can fail and the assets (factories, IP) would remain and be transferred to new owners. Bankruptcy does not disappear factories.
- Philadelphia 4y agoAnd the owners did fail. Chrysler was transferred to Fiat in bankruptcy, and GM shareholders were wiped out