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To add, in this scam system, now they are systemically important banks who can't lose :) Once stock market crashes, they can just wake up and say we have unlimi

To add, in this scam system, now they are systemically important banks who can't lose :) Once stock market crashes, they can just wake up and say we have unlimited printerrrr. It's all just a scam

talldayo 2y ago
> now they are systemically important banks who can't lose Reminds me of cryptocurrency like WorldCoin, where an overwhelming amount of all minted coins goes back into the developer's pockets no matter what. Really, the biggest difference is that a treasury can coordinate it's workers to meaningfully resolve economic deficiency. Cryptocurrency comes with no governance guarantees, zero regulatory oversight on developers, and no incentive to stabilize value. When you consider the basic needs of a governed economy, it's plainly evident why mints do what they do. Shaking your fist and complaining about it is the extent of the anarchist pipe-dream; nobody is going to read this or the parent's comment and invest their 401k in Ethereum.
- user90131313 2y ago
  lol what? Anyone can invest in Ethereum or Bitcoin. Not anyone can be part of scam system that protects oligarchs and grand kids of slave owners :) Investment bankers keep and increase their wealth with scams and wars. Go read some books. Only exception is tech investors, founders and innovators.
  - talldayo 2y ago
    Not just anyone; cryptocurrency is reserved for a special class of foolish investor that doesn't look for FDIC insurance. Seems like highlighting crypto's deficiencies has made you tip your hand though. Regulate me once, shame on you. Regulate me twice, shame on me?
    - user90131313 2y ago
      that is available to scam system participants again. If you put your labor into their system they protect some but they steal the real value :)
      - talldayo 2y ago
        My favorite part of Hacker News is how willingly most users will reject reality to support their favorite grift. I guess nobody should be surprised that members of a venture capital fan club have only learned how to lie to people about money.
        user90131313 2y ago
        u mean BS people like u?

To add, in this scam system, now they are systemically important banks who can't lose :) Once stock market crashes, they can just wake up and say we have unlimited printerrrr. It's all just a scam

talldayo 2y ago

> now they are systemically important banks who can't lose Reminds me of cryptocurrency like WorldCoin, where an overwhelming amount of all minted coins goes back into the developer's pockets no matter what. Really, the biggest difference is that a treasury can coordinate it's workers to meaningfully resolve economic deficiency. Cryptocurrency comes with no governance guarantees, zero regulatory oversight on developers, and no incentive to stabilize value. When you consider the basic needs of a governed economy, it's plainly evident why mints do what they do. Shaking your fist and complaining about it is the extent of the anarchist pipe-dream; nobody is going to read this or the parent's comment and invest their 401k in Ethereum.

user90131313 2y ago
lol what? Anyone can invest in Ethereum or Bitcoin. Not anyone can be part of scam system that protects oligarchs and grand kids of slave owners :) Investment bankers keep and increase their wealth with scams and wars. Go read some books. Only exception is tech investors, founders and innovators.
- talldayo 2y ago
  Not just anyone; cryptocurrency is reserved for a special class of foolish investor that doesn't look for FDIC insurance. Seems like highlighting crypto's deficiencies has made you tip your hand though. Regulate me once, shame on you. Regulate me twice, shame on me?
  - user90131313 2y ago
    that is available to scam system participants again. If you put your labor into their system they protect some but they steal the real value :)
    - talldayo 2y ago
      My favorite part of Hacker News is how willingly most users will reject reality to support their favorite grift. I guess nobody should be surprised that members of a venture capital fan club have only learned how to lie to people about money.
      - user90131313 2y ago
        u mean BS people like u?