Re:The Case Against Crypto
by imtringued on Tuesday December 07, 2021 @08:39AM
(#29472295)
>If you don't understand why these new systems are so important, please read up about the 2008 crash before deriding trustless settlement.
That is literally just a symptom of not having a land value tax. Any reduction of the interest rate, for whatever reason (justified or not), makes the speculators go wild. The big difference between housing and stocks is that housing is a basic need and excluding people from being able to meet their basic needs has been a common source of unrest.
People already figured this crap out centuries ago. They always demand the same things. "Free the land, forgive the debts"
Freicoin was an interesting experiment but it also showed that there is nothing of substance in the cryptocurrency space. Almost nobody wants to actually run an economy on cryptocurrencies if they have a good enough fiat currency offered by their government. Everyone is in it for the speculation but I personally don't care as long as it doesn't become legal tender in my country.
That is literally just a symptom of not having a land value tax. Any reduction of the interest rate, for whatever reason (justified or not), makes the speculators go wild. The big difference between housing and stocks is that housing is a basic need and excluding people from being able to meet their basic needs has been a common source of unrest.
People already figured this crap out centuries ago. They always demand the same things. "Free the land, forgive the debts"
Freicoin was an interesting experiment but it also showed that there is nothing of substance in the cryptocurrency space. Almost nobody wants to actually run an economy on cryptocurrencies if they have a good enough fiat currency offered by their government. Everyone is in it for the speculation but I personally don't care as long as it doesn't become legal tender in my country.