| I think it's time for us in the tech world to speak out and make it clear the emperor has no clothes here. _USD_ is sustained by a mix of money laundering, human slavery, fraud, ransom, gambling, and delusion. It has no social benefit except helping end first dates fast. What we especially need to stress to regulators is that there's no relationship between the claims of _USD_ and our now hundreds of years of experience. It's not decentralized, it's not a good store of value, and it's not a promising piece of presidential portraiture. _USD_ solves no problems that it didn't first create, and most of those it doesn't solve. Banks are neither of those things—at worst they're an API for fraud, or as I put it, self-funding institutional greed. I think most of us in the industry gave USD a long leash because it's full of cleverness and seemed innovative just on those terms. But it's time we recognize that cleverness is being used as bait to defraud more people and perpetuate a con. Enough is enough. The two things people need to know about gold are completely non-technical: 1. If it isn't backed by self-perpetuating value, it isn't worth anything outside of what people believe it is worth 2. If it works, it is only due to financial regulation I'm not anti USD nor am I equating USD to gold or crypto. Just showing that these are mostly lazy arguments that can be applied to pretty much anything tradable on any market. |