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> I would ask if society gets more good out of transferring the wealth to crypto-bro's or from it sitting in relatively low yield investment vehicles? I think
by coldpie 2y ago
> I would ask if society gets more good out of transferring the wealth to crypto-bro's or from it sitting in relatively low yield investment vehicles?
I think rewarding people for dumping useful labor into a black hole is bad, yeah. If we're just handing it out, we could've split all that money to everyone equally and reaped much better rewards as a society (useful social services; more family stability; less poverty) than giving a few gambling addicts overpriced cars in return for nothing.
- stevenAthompson 2y agoIt feels like you're only thinking about it at a personal level. From a higher level perspective, we didn't give them those cars, they bought them. And buying them provided tangible benefits to the people who made them and the companies that serviced them, etc. The money was freed from the dragon hoards of the unproductive and actually SPENT on something. Spending is useful. Hoarding isn't. Could it have been better spent? Sure, but spending it at all is better than leaving it to rot collecting a few points interest without actually producing anything of value.