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To be fair, whether or not this is "more harm than good" depends on your moral views. > Crypto has been one of the largest wealth transfers ever seen. Need a
by CaptainFever 2y ago
To be fair, whether or not this is "more harm than good" depends on your moral views.
> Crypto has been one of the largest wealth transfers ever seen.
Need a citation for this.
> With the level of criminality e.g insider trading, rug pulling, money laundering being unprecedented for a new technology
Not all crime is bad. I just so happen to belong to a marginalized group that requires crypto to do financial activities (e.g. commissions, donations for activist fronts). I am grateful for crypto's existence, even though like many (even in the crypto community), scams are disliked.
> artists, customer service lose work in favour of making productivity higher for knowledge workers etc
It is true that automation in general seems to increase inequality amongst education lines [1]. But the solution isn't to ban automation, it's to have equal-opportunity education (e.g. subsidies, retraining for obsoleted workers) and to financially support those that get left behind.
[1] https://www.reddit.com/r/Economics/wiki/faq_automation/#wiki_5.29_automation.27s_effect_on_your_income_seems_to_depend_on_education https://www.reddit.com/r/Economics/wiki/faq_automation/#wiki...