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I agree. The US (and other western countries) have let themselves fall victim to all sorts of corrupt ideologies; this has created short term 'limited liability

I agree. The US (and other western countries) have let themselves fall victim to all sorts of corrupt ideologies; this has created short term 'limited liability' reward structures which have encouraged a short term mindset. Instead of focusing on fixing internal issues, the US decided to run their economy on the misery of others by starting wars in faraway lands, manipulating foreign governments, saddling them with debts to create artificial demand for USD to export inflation, then they monopolized 'the internet' with their own government-anointed big tech monopolies. Zero focus on creating real, profitable, value-adding businesses. Zero ethics. China won this round fair and square... The smartest thing the west can do from now on is dump fiat currencies, switch to crypto and leave China holding the paper, but the longer the west fails to acknowledge that China beat it at its own game, the further it will fall.

ethbr0 3y ago
> then [the US and other western countries] monopolized 'the internet' with their own government-anointed unprofitable big tech monopolies How did the government anoint Microsoft, Apple, Google, and Facebook?
jacquesm 3y ago
> The smartest thing the west can do from now on is dump fiat currencies, switch to crypto Seriously? WTF?
- ImHereToVote 3y ago
  Wait a minute, you don't want to make jongjong's speculative crypto investments bear fruit so that he can retire in the Caribbean?
  - dikei 3y ago
    I mean he's gotta be an excellent mental gynmast to speak about real, profitable, value-adding businesses and crypto in the same post.
- jongjong 3y ago
  Radical, but the alternative is to honor all the currency paper China now holds. As someone who had no say over any of this, I don't see why I should play this game if I must join the losing side.
  - jacquesm 3y ago
    > Radical, but the alternative is to honor all the currency paper China now holds. As if China is the only country that holds US paper. This sort of idea is what could very well start WWIII.
    - jongjong 3y ago
      That's why it's a good idea to live outside any major capital city.
- mensetmanusman 3y ago
  Crypto isn't possible with todays tech, because it's an ever increasing bug bounty program that's super slow and has no undo button for fraud (which the elderly are extremely susceptible to).
  - htss2013 3y ago
    You could say the same about people having the ability to make wire transfers or international transfers. They're largely irreversible after some period. Every kind transaction becomes irreversible eventually. No one has solved the elderly exploitation problem yet for the existing banking system. Not sure why it would be fair to hold crypto to a higher standard.
- Spooky23 3y ago
  This is why we can’t have good things!

ethbr0 3y ago

> then [the US and other western countries] monopolized 'the internet' with their own government-anointed unprofitable big tech monopolies How did the government anoint Microsoft, Apple, Google, and Facebook?

jacquesm 3y ago

> The smartest thing the west can do from now on is dump fiat currencies, switch to crypto Seriously? WTF?

ImHereToVote 3y ago
Wait a minute, you don't want to make jongjong's speculative crypto investments bear fruit so that he can retire in the Caribbean?
- dikei 3y ago
  I mean he's gotta be an excellent mental gynmast to speak about real, profitable, value-adding businesses and crypto in the same post.
jongjong 3y ago
Radical, but the alternative is to honor all the currency paper China now holds. As someone who had no say over any of this, I don't see why I should play this game if I must join the losing side.
- jacquesm 3y ago
  > Radical, but the alternative is to honor all the currency paper China now holds. As if China is the only country that holds US paper. This sort of idea is what could very well start WWIII.
  - jongjong 3y ago
    That's why it's a good idea to live outside any major capital city.
mensetmanusman 3y ago
Crypto isn't possible with todays tech, because it's an ever increasing bug bounty program that's super slow and has no undo button for fraud (which the elderly are extremely susceptible to).
- htss2013 3y ago
  You could say the same about people having the ability to make wire transfers or international transfers. They're largely irreversible after some period. Every kind transaction becomes irreversible eventually. No one has solved the elderly exploitation problem yet for the existing banking system. Not sure why it would be fair to hold crypto to a higher standard.
Spooky23 3y ago
This is why we can’t have good things!