3 ms·
I really don't get this anti-speculation sentiment, it seems really disingeniousa as it only becomes a problem when it becomes accessible to all. People seem to
by nathias 4y ago
I really don't get this anti-speculation sentiment, it seems really disingeniousa as it only becomes a problem when it becomes accessible to all. People seem to be very okay with speculation when done by billionaires, banks and wallstreet professionals, shareholders etc. but when poor people get a chance to do it, then it's a problem.
- acdha 4y agoThe difference is that I don’t buy groceries using stock share certificates. Nobody objects to people buying stocks speculatively as evidenced by the constant marketing of brokerage accounts but there are rules which the cryptocurrency world has generally resisted, and there’s an inherent conflict between the two purposes of having a medium of exchange also be used for speculation.
- daveguy 4y agoThe anti-speculation comes more from the tulip factor than the "just for billionaires" factor. Crypto is touted as currency. If you're going to have a stable currency it can't be easily subjected to the mania of tulip futures.
- Yizahi 4y agoSo far token "industry" looks like billionaires and wallstreet professionals plus some actual dotcom era criminals, are actively scamming poor people of their money using fearmongering end of the world narratives. I find it hard to empathize with these people.
- BLKNSLVR 4y agoGiven that the privileged groups you mention are those who control the narrative, it's an unfortunate but entirely predictable outcome that the narrative pushed from above is absorbed by the bottom and then also pushed upwards akin to osmosis. What's humorously ironic is that the criticism of speculation is the criticism of exactly what 'the people' have chosen to do. As someone else said 'don't hate the sin, hate the sinners'.