Re:Thailand bans meme coin and NFT: “no clear objective or s...
by echelon on Monday June 14, 2021 @03:56PM
(#27507483)
Crypto is the thinking person's equivalent of an MLM.
Fiat works because a government for and by the people backs it. The government provides protection, services, and a means for the citizens to be productive.
Crypto provides none of this. Only a pyramid shape for the early adopters to get rich off the latecomers.
Nobody elects crypto whales or maintainers. You can't force them out of office. That's a bad structure for society.
Crypto is far from equitable and democratized. It's just a bunch of "finance bros" with code and cryptography, and all the power is at the top. It even lacks the release valves that fiat has.
Fiat works because a government for and by the people backs it. The government provides protection, services, and a means for the citizens to be productive.
Crypto provides none of this. Only a pyramid shape for the early adopters to get rich off the latecomers.
Nobody elects crypto whales or maintainers. You can't force them out of office. That's a bad structure for society.
Crypto is far from equitable and democratized. It's just a bunch of "finance bros" with code and cryptography, and all the power is at the top. It even lacks the release valves that fiat has.