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by Melting_Harps
1990 days ago
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> in either case, it will give me profits in the end, which is all I care about. I do not care about the "how" This is perhaps the most telling aspect of the investment class that explains how people so many are starving, being evicted and dying from COIVD in the World'd richest country while people keep pouring into Airbnb and Doordash IPOs. It's so absurd to me how oblivious some people are about things that will lead to inevitable consequences to Society as a while while justifying any and all practices (not least of which slave labour) because their fake paper wealth number increases--all while the currency its denominated in loses more and more purchasing power. |
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Like every human being, you are entitled to an opinion - however, I fear you are turning that into an emotional argument, instead of logically looking at it. Your emotions are tainting your perceptions.
Most people on HN have a negative view of crypto because of sour grapes. That's fine if you can afford the missed opportunity caused by this kind of luddism.
> fake paper wealth number increases--all while the currency its denominated in loses more and more purchasing power.
Personally, the only "wealth" I believe in is the one that's in a FDIC insured bank, under your name.
As for the purchasing power, it doesn't really matter in isolation: as long as your wealth can increase more in nominal terms than the purchasing power can decrease, it means your wealth increase in real terms.
So what's the problem exactly?
Purchasing power, like everything else, is just one of the "tools" - like CICD or your favorite editor, it's a nice thing to talk about with your friends, but that's not the bottom line.