11–20 of 55 posts
I think I finally "get" crypto. This article made me see the light. Crypto is about secession - a techno-anarchy. Decentralized governance with a self-managed currency is effectively creating a new city-state. To be honest, the idea of the United States collapsing into a collection of Crypto City-States doesn't sound too bad. Better than a Mad Max scenario.
Earlier quoted context omitted.
I guess what I'm getting at is through what mechanism. I can already buy every single thing available in my local community with American currency. Why do the tokens improve this situation?
Local currencies are a thing since the middle age. They allow for a distinct set of rules (=! Inflation rate) governed by “local” representatives. In strong economies (like g7), it does not make much sense, granted. You may lose on the exchange processes vs “the global currency”, but your community may not care since aiming to trade locally. PS : in constant inflationary economies (read Argentina, i think 600% in 10y…
I think I finally "get" crypto. This article made me see the light. Crypto is about secession - a techno-anarchy. Decentralized governance with a self-managed currency is effectively creating a new city-state. To be honest, the idea of the United States collapsing into a collection of Crypto City-States doesn't sound too bad. Better than a Mad Max scenario.
If you want to really understand the true crypto believers (the earlier crowd, not the speculators) you must read Atlas Shrugged. In it, the heroes form their own society away from an (in their eyes) overreaching government, built on free exchange. In it they have a special bank vault that can never be looted, keeping their wealth safe, even in the event of the community being invaded. If it is forced open, the conte…
Earlier quoted context omitted.
Local currencies are a thing since the middle age. They allow for a distinct set of rules (=! Inflation rate) governed by “local” representatives. In strong economies (like g7), it does not make much sense, granted. You may lose on the exchange processes vs “the global currency”, but your community may not care since aiming to trade locally. PS : in constant inflationary economies (read Argentina, i think 600% in 10y…
Stable coins are all the rage to fight inflation. 'Regular Joes' call them dollars, they exist as pieces of paper you can hold in your hand. They don't need to play silly games with crypto scammers.
But well, subprimes and CDS still exist, and the EU re-allowed using Meat and bone meal to feed castle 20 years after the mad cow disease, so I guess it's just that humans are just very bad at learning from our mistakes.
[1] https://www.gemini.com/cryptopedia/the-dao-hack-makerdao#sec...
I think I finally "get" crypto. This article made me see the light. Crypto is about secession - a techno-anarchy. Decentralized governance with a self-managed currency is effectively creating a new city-state. To be honest, the idea of the United States collapsing into a collection of Crypto City-States doesn't sound too bad. Better than a Mad Max scenario.
I don't really understand what the incentive for the cities to adopt these tokens is except to appear "tech savvy" Not saying the reasons don't exist but I just don't get it.
Maybe this? : https://en.wikipedia.org/wiki/Local_currency "aims to encourage spending within a local community"
I think I finally "get" crypto. This article made me see the light. Crypto is about secession - a techno-anarchy. Decentralized governance with a self-managed currency is effectively creating a new city-state. To be honest, the idea of the United States collapsing into a collection of Crypto City-States doesn't sound too bad. Better than a Mad Max scenario.
If you want to really understand the true crypto believers (the earlier crowd, not the speculators) you must read Atlas Shrugged. In it, the heroes form their own society away from an (in their eyes) overreaching government, built on free exchange. In it they have a special bank vault that can never be looted, keeping their wealth safe, even in the event of the community being invaded. If it is forced open, the conte…
Worth mentioning is Fabrica, a platform to enable super quick and inexpensive real estate transactions using the blockchain [0]. Disclaimer: I have shares in the company and I was a co-founder long time ago. [0]: https://www.fabrica.land/
I would have appreciated a comment and/or a reason for the downvote.