Re:Crypto dominoes fall in the wake of FTX's collapse
by samsonradu on Friday November 18, 2022 @01:34PM
(#33659527)
I guess society is not optimized for max productivity. As a group, society makes many resource allocation mistakes and (hopefully) corrects them later on.
Fe. society might have been better off investing in nuclear energy in the past 30 years, yet it did not and it s starting to look as a mistake.
Circumstances play a role too. My opinion is that if it had not been for the pandemic and the economic anomalies that happened way fewer people would have paid attention to crypto.
But if society really believes that their smartness could have been used better, why aren't they paid for doing "more productive stuff" than crypto? These people did crypto because it paid the most. Therefore, at the time, it must mean that it is most productive to do crypto.