4 ms·
For the generation to turn away from get-rich-quick schemes pumped by millionnaires (incl crypto), there has to be a reasonable standard of living that's achiev
by rchaud 4y ago
For the generation to turn away from get-rich-quick schemes pumped by millionnaires (incl crypto), there has to be a reasonable standard of living that's achievable by the majority of society.
Anything short of that will simply lead to crypto being replaced by some other craze: meme stock, MLM products, forex derivatives and what have you.
- PaulHoule 4y agoYou can make the case it is the other way around, bubbles tend to inflate when the business cycle is on the upswing and there is money to steal.
- rchaud 4y agoIt is not retail investors that are directly inflating asset bubbles. The fallout of their bad decision-making is limited because they have to pay market rates for loans. There are no such limits for venture capital and private equity or state-backed wealth funds. That's why Softbank and Saudi Arabia can flood SV startups with money, even as the companies themselves use that money to somehow deepen their losses further.