Murtaza Hussain
@mazmhussain
One thing I learned from cryptocurrency and now social-fi platforms like Farcaster is that money is completely fake and bears no necessary relation to labor as most people had assumed and continue to believe. Its possible to literally generate money out of thin air using clever tricks and obfuscations. Of course people in finance already knew this years ago and the knowledge has simply become a bit more democratized.
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woj ツ
@woj.eth
word by word, this is exactly the same thought / line of thinking i ended up on this year
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artlu 🎩
@artlu
<< One thing I learned from Amsterdam and now high-minded intellectual towns like Utrecht is that money is completely fake and bears no necessary relation to value as most people had assumed and continue to believe. Its possible to literally generate money out of tulip bulbs using clever tricks and obfuscations including paper chits backed by future tulips. Of course people in London already knew this years ago and the knowledge has simply become a bit more democratized. >> People's response to your original statement reveals their age. I came of age during the internet bubble, when friends just out of college could become multi-millionaires with a good idea for a website. The memecoin + AI evolution are an extreme distillation of this. It's kinda important if you are to stay in crypto to have a clear reason in your own mind why the fourth version of Ethereum is going to be different from a special variant of tulips during the Dutch Golden Age, when a bulb could as a matter of fact be traded for a house.
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Daniel Fernandes
@dfern.eth
money = debt, and the biggest debt we all have are taxes. so tax obligations create money. simple MMT. tax obligations are created by law & decree, so in a sense out of thin air—by fiat, but the consequences for not paying them are very real. so money creation is easy...enforcement is difficult. it's easy to create a token, like a stablecoin, it's not easy to enforce its value...see Terra/Luna, OHM, all memecoins, etc... great debate btw: https://www.youtube.com/watch?v=cUTLCDBONok
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HH
@hamud
I still believe that it does, otherwise it becomes a pure pvp game. Who can get out first.
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quantsavant.eth 🔵
@shredgnar
nihilist feels from money printer go brrr. Both gov and web3 printers that is. in the long run, it tethers to labor production or God help us all.
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zoo
@zoo
same vibe https://warpcast.com/zoo/0x9ea5a7c9
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anon
@superanon
same with APY in 2021 finance is just being the least illiterate and first to realize what others expect.
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