Murtaza Hussain on Warpcast

Murtaza Hussain pfp

Murtaza Hussain

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 pfp

word by word, this is exactly the same thought / line of thinking i ended up on this year

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Daniel Fernandes pfp

Daniel Fernandes

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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artlu 🎩 pfp

<< 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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Nico pfp

That's why states telling they have to reduce their debt are totally wrong. No one has to repay debt unless they are in physical danger if not. Nations debt is a game where the first to repay loses. Debt just created more money. Money is trust in power to increase debt.

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HH pfp

I still believe that it does, otherwise it becomes a pure pvp game. Who can get out first.

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TobyJaguar pfp

Money is a technology. Some tech is better than others.

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Trigs pfp

Money is just a construct created to control trade. Human beings are inherently social, but social interaction requires building trust. The current economic structure is designed to provide people with the ability to trust each other enough to engage in 'free markets', by simply trusting the centralized authorities that control the money to enforce the rules around our industry. The more we democratize knowledge, the less we have to rely on authorities to make decisions on how to allocate resources for us. We can make money reward labor more effectively, but we have to take control of curating the /impact of each other's actions. https://warpcast.com/trigs/0x8048a9bd

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kripcat.eth pfp

So many people on this protocol will nod along to this and in the next breath proclaim with absolute conviction that we live in a meritocracy.

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zoo - q/acc pfp

same vibe https://warpcast.com/zoo/0x9ea5a7c9

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quantsavant.eth 🔵 pfp

quantsavant.eth 🔵

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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anon pfp

same with APY in 2021 finance is just being the least illiterate and first to realize what others expect.

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