04-01-2022, 01:09 PM
I think it’s a bit of a challenge to talk about alternative currencies,
because people don’t understand the regular currency they already use. Like if you were to ask people how much money
is stolen for each type of currency, that makes sense as a question, we
understand it, but if you were to talk about inflation, where the money in your
checking account from a year ago has lost 8% of it’s value in the last year,
less people understand that. Is your money losing value that much different than someone stealing it? If you were
to talk about how fractional reserve banking mathematically ensures that each
generation is going be more in debt than the previous generation and guarantees
that the American dream slips further and further out of reach for our children
and grandchildren, almost no one understands that, even though we all sort of
intuitively know that back in the 50’s one person’s job could support a family
and buy a house in 15 years, and then we needed both parents working and 30
years to buy a house, and now kids have to live with their parents for a long
time to save up enough money to buy a house and women have stopped working
because putting two kids into day care costs too much or are choosing to avoid
having kids because they cost too much.
Our current monetary system is a sinking ship. It is fundamentally flawed and designed to make
bankers rich enough to buy our government, while the rest of us get further and
further into debt. We need to get off
this system and onto something else. We
will very shortly need to migrate to a new monetary system that serves all the
people and not the few.
Crypto has some flaws.
I’m pretty smart and I don’t really understand it to the depth that I
would like to. I think it’s a rough sell
to the public, because most people can’t even avoid using the same username and
password for all their accounts, but now you have to get cybersecurity right or
potentially lose your life savings? I
think it’s a little bit like the wild west out there right now, but that said I
think it will become more civilized and more usable over time.
because people don’t understand the regular currency they already use. Like if you were to ask people how much money
is stolen for each type of currency, that makes sense as a question, we
understand it, but if you were to talk about inflation, where the money in your
checking account from a year ago has lost 8% of it’s value in the last year,
less people understand that. Is your money losing value that much different than someone stealing it? If you were
to talk about how fractional reserve banking mathematically ensures that each
generation is going be more in debt than the previous generation and guarantees
that the American dream slips further and further out of reach for our children
and grandchildren, almost no one understands that, even though we all sort of
intuitively know that back in the 50’s one person’s job could support a family
and buy a house in 15 years, and then we needed both parents working and 30
years to buy a house, and now kids have to live with their parents for a long
time to save up enough money to buy a house and women have stopped working
because putting two kids into day care costs too much or are choosing to avoid
having kids because they cost too much.
Our current monetary system is a sinking ship. It is fundamentally flawed and designed to make
bankers rich enough to buy our government, while the rest of us get further and
further into debt. We need to get off
this system and onto something else. We
will very shortly need to migrate to a new monetary system that serves all the
people and not the few.
Crypto has some flaws.
I’m pretty smart and I don’t really understand it to the depth that I
would like to. I think it’s a rough sell
to the public, because most people can’t even avoid using the same username and
password for all their accounts, but now you have to get cybersecurity right or
potentially lose your life savings? I
think it’s a little bit like the wild west out there right now, but that said I
think it will become more civilized and more usable over time.
Millionaires be Millionaires