At the end of the day, isn’t all forms of money a Ponzi scheme? We trust the issuer, who promises stability, value or growth. In return, we have confidence in the system and buy into it, but if the trust is lost, so is the value of its ‘currency’, regardless if it’s from a nation, exchange or individual At the end, we get sucked into one system or another so the question is - do you trust more your government or your crypto exchange? https://youtu.be/C6nAxiym9oc TC: 🥜🍌->🥜
How is fiat a Ponzi scheme?
How does one decide how much $1 is worth and what you can buy? If US government decides to print more of its money, which is not back by anything other than an IOU, does that one dollar worth the same?
Ok google, what is inflation
OP doesn’t know how finance works
You clearly don't understand anything about finance, and probably lost a lot with FTX. Sorry for your loss. But no lol there's issues with fiat but nothing like this crypto bullshit.. Hopefully the whole thing just dies. Would be the one good thing to come out of this downturn.
Lost $0. Never trusted crypto and always been skeptical about the whole monetary system
Any monetary system or trust in reserve currency is built on trust. Good luck selling your skills via barter tho. Before ww2, the british pound was what dollar is now. Ftx just speed ran thru the centuries in just few years.
government comes with rule of law, enforcement, infrastructure, etc. its not the same with some bullshit exchange
US went off gold standard in 1971. Been a ponzi since
That’s biggest ponzi ever and got big deal with gulf countries to trade oil only with USD .
Yee yee brotha, let's buy some gold and silver to back our currency. Very flexible and cool. By the same idiotic logic, I should not trust docusign and only do notary verified physical signatures. This will make signing documents so much more reliable and verified. So stupid.
The US dollar is ran by the FEDs with multiple lines of control, governance and oversight Not by a group of 20 year olds who literally sleep with each other
Furthermore the US dollar is backed by the US government who you could say is quite diversified FTX is backed by what? The company it self at most which would be double dipping
This is some high quality Copium you’re on.
Yes US dollars are a ponzi. You should get out of such scheme now and giveaway all your dollars.
You're living in a black and white world if you rule everything out as ponzi scheme. Nothing is 100% guaranteed, all social constructs we have are flawed in one way or another. The only difference is what is the probability of a failure,level of trust you can have in one vs the other. If you look at things this way you'll have a spectrum where on one side you'll have short lived things and on the other e.g. precious metals. Fiat currencies like dollar or euro are much more reliable that crypto just because US dollar is backed by the government. Crypto is backed only by trust and once critical mass of trust fades away it will crumble. Government doesn't need trust alone, it is an institute of violence above all things and will bend everyone to pay taxes in the way it wants. You can escape cryptocurrency, you can't escape the government that's what it ultimately boils down to.
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