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@thumbsup.eth
If stocks didn’t exist, Elon, Bezos, and Thiel wouldn’t be megabillionaires. They’d have to pay themselves and their investors with real income not with this funny money that they can’t actually sell without it rapidly depreciating. All of the insane things rich people do with borrowing money to acquire things essentially for free is because stocks exist, and thus merely eliminating one thing (shares of companies) would radically reshape the world we live in, what wealth means, and the nature of power. Discuss.
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@baseddesigner.eth
Totally agree, that's what US debt is about, they just keep getting richer but in reality they're going deeper into negative numbers lmao spending what they haven't earned and getting deals on what's not in their pockets to pull out
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@baseddesigner.eth
I guess the only way for all of it to collapse in the end, there's no fixing it
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@baseddesigner.eth
Quite painful for a monetary system but then remember how many times did it happen through history?! Crypto is one thing we've got now though that have potential to hold value no matter what the global currency is, through centuries Some people still digging up unknown coins from the ground which cost nothing but with crypto it could be worth and be used whenever it's picked back up
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@thumbsup.eth
I agree with the first part but not the second. All currency is only as valuable as the faith people have in it. If people say ETH or BTC is valuable now, as in they’re willing to give you a set amount of fiat or other crypto for it (or even real world goods) then it is worth something, but when people refuse to accept it, it no longer has value. I do agree that it is the most resilient money we’ve built yet, but I can’t guarantee it always will be. There is a very good chance that in a post scarcity world that something other than fiat/gold/crypto (or just straight up nothing) replaces the current approach to exchange.
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