UST Stablecoin Loses Dollar Peg

Re:UST Stablecoin Loses Dollar Peg by gitfan86 on Tuesday May 10, 2022 @08:19AM (#31326182)

The key to running a Ponzi scheme is to make it last a really long time. Ironically, Satoshi saw this behavior with the US federal government printing money and effectively scamming people on fixed income and anuities. He was right to be upset that people were effectively lied to about the value of their money.

Now the shoe is on the other foot and the crypto world is full of predators who would be selling anuities to old people, but are now selling crypto scams to suckers.

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Re:UST Stablecoin Loses Dollar Peg by anonporridge on Tuesday May 10, 2022 @10:28AM (#31327544)

Society itself is a kind of ponzi scheme.

It relies on a continual influx (and ideally growth) of new people who do the actual work that the old, burnt out, and jaded don't want to do anymore.

Eventually, there will be a generation that puts in the work, but receives no reward in the old age because the house of cards collapses.

In my opinion, our goal as a society should be to prolong the ponzi scheme for as long as possible, ideally close to the heat death of the universe.

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