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We should be alarmed about any money system that has the properties that give way to gambling and ponzi-like systems. I would not hesitate to criticize both the
by creatonez 3y ago
We should be alarmed about any money system that has the properties that give way to gambling and ponzi-like systems. I would not hesitate to criticize both the money system and the con artists who took advantage of it, when it's so clear that the money system's rules have such inevitable outcomes. I don't mind abolishing any of the money systems that turn out to be harmful and are pushed without broad sociopolitical consent.
- AnonCoward42 3y agoOur current money system has the properties that give way to gambling. You can't pretend that gambling didn't exist before crypto.
- anonymouskimmer 3y agoVery few people are swapping yen and euros trying to get rich from them. The standard gambling that happens with "our current money system" can also happen with self-written IOUs. This kind of gambling isn't about the money, per se, whereas with crypto you get an additional kind of gambling on the currency itself.
- AnonCoward42 3y agoFor Yen and Euro it makes less sense since these are relatively stable, but for less stable currencies that is actually a thing. The definition of gambling you are talking about is built into our monetary system. I give you the point that it is harder (not impossible) to enforce any regulations on these currencies. It's like cash in that sense, but it has easy access and there are plenty of options of cash, which is unlike regular cash.