Re:Do we need a better understanding of 'progress'?
by shreyshnaccount on Sunday June 19, 2022 @03:48AM
(#31797188)
> > Not as long as the governance issue I described exists, no. Things would get worse on average over time but nobody would have any way to fix that.
I don't know the reasoning behind this, would love to understand in depth, but you're probably right.
>> don't know what you mean by this. I'm taking about how when everyone had excess cash (not excess value) then they spent it on things like NFTs, while a part of the craze saw new money buying NFTs like old money buys yatchs (to get into an exclusive club), a lot of people followed the hype by putting their money into an "asset" that has lost staggering amounts recently as a recession looms ahead because it mostly solves no real problem and creates no real value.
Nice talking to you!
Not as long as the governance issue I described exists, no. Things would get worse on average over time but nobody would have any way to fix that.
> its all gonna "go to the moon" until there's a looming recession and suddenly all the worthless things lose a bunch of value
I don't know what you mean by this. There is nothing that guarantees that wealth creation will continue.
> I'd like to thank you for taking the time to reply so thoroughly
You're welcome! And thank you in return for taking the time to read my posts and respond thoughtfully.