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Joined 1 year ago
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Cake day: July 5th, 2023

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  • People had 15 years to “wake up” now, yet they didn’t. Partly due to volatility which makes planning near economic future impossible, partly due to scare, but most importantly because they still get their wages in fiat, pay for products in fiat etc., and generally have little left to invest.

    The state doesn’t have incentive to change the regulations that favor crypto because crypto is generally worse as actual money as opposed to store of value for the reasons described above.

    Crypto bros will shill “crypto everywhere soon” narrative every time they can, and I’ve seen it since at least Mt. Gox era. But until the regulations will be there (and they won’t), nothing is gonna happen.





  • Crypto capitalism is super bad idea exactly because it’s uncontrollable, i.e. all the bad stuff of capitalist economy, uncaged.

    It encourages money hoarding, which cripples the capitalist economy, it does not allow to control emission, which is actually bad because it’s essential to driving economy out of crises, it does not allow to block criminals’ access to money and transactions, it severely complicates taxation and other important economic actions.

    Crypto capitalism has the potential to exacerbate inequality, and cause a giant slew of problems sending modern economy into chaos. But yes, your 500 ADA salary will be truly yours.

    I’m pro-crypto, by the way. While posing new risks, crypto can be super helpful as means of unsanctioned money transfer, breaching artificial limitations, keeping governments in check by always being able to support protesters, etc. But making it the world go-to currency is a bad idea.