EthFinance
Welcome to /EthFinance, a decentralized alternative to Reddit's r/EthFinance community of Ethereum investors, traders, users, devs, enjoyooors, etc. with a focus on the market, price, tokenomics, use cases, DeFi products, and all things finance related.
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Slight rant and totally heuristic:
I've read and listened to some of Graeber on debt, Merhling on the modern monetary system today, and some of the newer kids like Saefadeen and Lyn Alden with bitcoin and hard money.
The only real conclusions I can come up with is humanity is predisposed to take risks. These risks have future payouts in quality of life, and losses. As a society, we have developed credit money to help take those risks without suffering huge losses. I actually truly believe credit money is necessary for a functioning society, since in almost every civilization even going back to the Sumerians utilized credit expansion to take on new projects, rather than collateralizing with existing wealth.
Even when they say they will collateralize with existing wealth on paper (businesses, slaves, land, gold), there is usually a sovereign debt crisis and the debt is completely erased. It almost never actually transfers to debtors, and even in religions, they effectively ban interest for this reason. 3 replies
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