All-White Town’s Divisive Experiment With Cryptocurrency
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Re: All-White Town’s Divisive Experiment With Cryptocurrency
#2> Commerce would continue, with state-backed currencies swapped for crypto alternatives that float freely on an open market.
I'm assuming this means a stable coin?
Has anyone figured out how to verify the backing on a blockchain? If that was possible Tether's fraud would have been exposed sooner.
Also, why is Facebook's new currency rumored to be backed by multiple currencies? That seems like it would add volatility instead of lessening it.
Re: All-White Town’s Divisive Experiment With Cryptocurrency
#3Racial discrimination aside, it gives me hope to see liberal/libertarian ideals holding against the ever expanding state in almost every country on Earth. Liberty and self determination are dying virtues, and people don't know what it is they're giving up so willingly.
Re: All-White Town’s Divisive Experiment With Cryptocurrency
#4Since the article keeps bringing up that everyone involved is "all white," i.e. a 10% minority in SA, that probably means that they won't be able to keep a good relationship with the SA government if it collapses and they'll probably end up with the military stealing all of their stuff. Too bad they can't immigrate to America, they are clearly smart and entrepreneurial. Unfortunately collapsing states tend to turn on minorities. Really, they should forget about surviving the collapse and focus on preventing it...
Re: All-White Town’s Divisive Experiment With Cryptocurrency
#5> Commerce would continue, with state-backed currencies swapped for crypto alternatives that float freely on an open market. I'm assuming this means a stable coin? Has anyone figured out how to verify the backing on a blockchain? If that was possible Tether's fraud would have been exposed sooner. Also, why is Facebook's new currency rumored to be backed by multiple currencies? That seems like it would add volatility…
> Has anyone figured out how to verify the backing on a blockchain? If that was possible Tether's fraud would have been exposed sooner.
And this is always the problem with block chain. You can't cryptographically verify real life things that people care about like how much money is in someone's bank account.
Re: All-White Town’s Divisive Experiment With Cryptocurrency
#6Since the article keeps bringing up that everyone involved is "all white," i.e. a 10% minority in SA, that probably means that they won't be able to keep a good relationship with the SA government if it collapses and they'll probably end up with the military stealing all of their stuff. Too bad they can't immigrate to America, they are clearly smart and entrepreneurial. Unfortunately collapsing states tend to turn on…
They’d have been sued out of existence in America because of housing discrimination laws.
Re: All-White Town’s Divisive Experiment With Cryptocurrency
#7Since the article keeps bringing up that everyone involved is "all white," i.e. a 10% minority in SA, that probably means that they won't be able to keep a good relationship with the SA government if it collapses and they'll probably end up with the military stealing all of their stuff. Too bad they can't immigrate to America, they are clearly smart and entrepreneurial. Unfortunately collapsing states tend to turn on…
Is SA collapsing? News to me.
Re: All-White Town’s Divisive Experiment With Cryptocurrency
#8"all white" in South Africa is a minority struggling against majority. They can't be "far right". Far Right means nativists which in South Africa continues to be black people and not white.
Re: All-White Town’s Divisive Experiment With Cryptocurrency
#9Racial discrimination aside, it gives me hope to see liberal/libertarian ideals holding against the ever expanding state in almost every country on Earth. Liberty and self determination are dying virtues, and people don't know what it is they're giving up so willingly.
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Re: All-White Town’s Divisive Experiment With Cryptocurrency
#10Although it's easy to figure out, the apostrophe in the title migrated ("An all-white's town" should be "An all-white town's", as in the article itself).