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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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matthewb.eth
@matthewb
seems like a pretty circular argument, essentially "I think billionaires are bad therefore stocks shouldn't exist because they would have less power as a result" also pretty hard to square this ethos with crypto as a whole which prints tokens out of thin air to create value for e.g. a protocol
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@thumbsup.eth
I’ll let you in on a secret (that’s not a secret, because everyone knows it deep down, I’ve said it many times, and even created an NFT project premised on this): those tokens are worthless and people are either foolish for buying them or brilliant for recognizing how foolish others are. If you’re not earning trading fees as a token holder, controlling some treasury in a way that benefits you financially or ideologically, or receiving some kind of payment in stablecoins or network tokens (ETH for example) there is no value to the token. Crypto is awesome because it enables new mechanisms, that we’ve recreated all the worst bullshit on these rails is not to be celebrated nor taken as an indication of the direction we’re headed.
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