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Re:SEC asks for emergency order to freeze Binance US assets ... by duskwuff on Tuesday June 06, 2023 @09:01PM (#36221372)
Nor that cryptocurrency doesn't create value out of nowhere -- for every person who "built generational wealth" (gag) by speculating on cryptocurrency, there's probably quite a few people who lost money. It's a zero-sum system.
Re:SEC asks for emergency order to freeze Binance US assets ... by renonce on Tuesday June 06, 2023 @09:33PM (#36221651)
If people can somehow keep cryptocurrency values high, they can take USD margin loans out of their Bitcoin holdings, which increases the amount of total dollars laying around. That’s what happened in 2021 that bumped crypto asset prices due to extremely low USD interest rate and quantitative easing. In terms of USD it is really not zero-sum, though you may take it in other ways.
Re:SEC asks for emergency order to freeze Binance US assets ... by unyttigfjelltol on Tuesday June 06, 2023 @09:15PM (#36221493)
Worse than that, it's actively undermining a system of laws and fair play that do create stability and value. It's strip-mining a rainforest for kicks. I came to Bitcoin naiively as a libertarian curiosity and after examining it fairly closely I'm convinced Satoshi was a black market kingpin and Bitcoin was conceived as a money laundering vehicle.