Earlier quoted context omitted.
This is true. It’s also true that “your body” is just a social construct. The rabbit hole of “property is just an idea” doesn’t end well for humans who seek agency.
Land exists independently of your labor, predating and (hopefully) postdating your existence by billions of years. Your body does not.
Peter Thiel-Backed Crypto Lender Vauld Suspends Withdrawals
131–138 of 138 posts
Re: Peter Thiel-Backed Crypto Lender Vauld Suspends Withdrawals
#132Earlier quoted context omitted.
> Real estate is an outlier in your examples due to there being limited supply and people need shelter People need lots of things. The principal constraints on real estate are political. (The entire concept of real estate is a social construct.) Not physical space.
Is not also the "idea of a social construct" a social construct? And by extension is also arbitrary and meaningless? And surely then every idea of any category is dissolved as meaningless and arbitrary, and then reason itself is absurd?
Re: Peter Thiel-Backed Crypto Lender Vauld Suspends Withdrawals
#133Earlier quoted context omitted.
This doesn’t make a lot of sense. Bitcoin and ethereum are still up and processing blocks with little regard to what is happening in the financial system. Those lending companies closing down are basically centralized platforms very much like the legacy financial system. This take is the same type of uneducated comment that someone does while attributing actions done by say Coinbase to crypto as a system.
>Bitcoin and ethereum are still up and processing blocks with little regard to what is happening in the financial system. Those are internal database tasks. I'm sure the IT staff at Lehman Brothers could have run defrag jobs and swapped backup tapes until the Sun went out. That wasn't the problem at Lehman. The bitcoin network can process blocks when a bitcoin is worth $10,000 or $1 or $0.00001. The problem is that i…
Re: Peter Thiel-Backed Crypto Lender Vauld Suspends Withdrawals
#134I'm a crypto enthusiast and I don't share the common view here that blockchain is useless, however ... how do you offer 12% interest on a stable coin? Where is that money even supposed to be coming from?
Re: Peter Thiel-Backed Crypto Lender Vauld Suspends Withdrawals
#135The weird thing about crypto is that it can become a $20T asset class without it ever truly affecting the "real" world, as long as the money stays circulating within the crypto ecosystem. Crypto marketcap topped $3T this run. It was likely much higher given that this $3T figure comes from CoinGecko and it doesn't track NFTs and unlisted tokens. Yet the real world impact of this market crashing wasn't really as big as…
This might be true, but it's not that interesting imo. It's not a closed ecosystem people cash out of crypto to interact with the real world and buy their lambos. When there are major shocks in the real world - war & inflation this time - the facade disappears.
Re: Peter Thiel-Backed Crypto Lender Vauld Suspends Withdrawals
#136Re: Peter Thiel-Backed Crypto Lender Vauld Suspends Withdrawals
#137Earlier quoted context omitted.
Is not also the "idea of a social construct" a social construct? And by extension is also arbitrary and meaningless? And surely then every idea of any category is dissolved as meaningless and arbitrary, and then reason itself is absurd?
The non-obvious point is that the value of real estate hinges on this social construct. Even the exact implementation details of it. It's not as simple as vecinu implied, that people need shelter therefore my investments will moon. And this isn't just a theoretical exercise, it's rather something that affects the market.
Re: Peter Thiel-Backed Crypto Lender Vauld Suspends Withdrawals
#138Earlier quoted context omitted.
Real estate is an outlier in your examples due to there being limited supply and people need shelter.
During the GFC of 2008, real estate values went down, despite the factors you mention.