Cryptocurrency is the intersection of tech bros who think they know more than everyone else and finance bros who think they deserve more than everyone else. In this era of tech the bigger the opportunity, the worse the people who flock to it.
I recently got pitched stablecoins as a way to lower government borrowing costs. I’m sort of on board with this.
If I am investing $1mm of my own money, I care about the yield. If I’m investing $1mm of someone else’s money, and I don’t need to pay them a return, I mostly care about never losing it. This creates price-insensitive demand for safe assets. If you require those safe assets be government bonds, you’ve created pools of price-insensitive demand for your government’s debt.
Put another way, we’re financing our deficits with crypto bros. Compared with taxation, that seems like a win-win.
What confusing writing.
Every sentence is a paragraph.
And look like disconnected ideas.
Like bullet points without bullets.
Exhausting to read.
Looks like memes written by LLMs.
Why do cryptocurrency-focused people tend to write like this?
Cryptocurrency is the intersection of tech bros who think they know more than everyone else and finance bros who think they deserve more than everyone else. In this era of tech the bigger the opportunity, the worse the people who flock to it.
The goal of money is to be used for trade. All of the examples on the article are failures, and the market cap is at best useless information.
The EU at least had a honest attempt of making money, instead of a ponzi scheme.
I recently got pitched stablecoins as a way to lower government borrowing costs. I’m sort of on board with this.
If I am investing $1mm of my own money, I care about the yield. If I’m investing $1mm of someone else’s money, and I don’t need to pay them a return, I mostly care about never losing it. This creates price-insensitive demand for safe assets. If you require those safe assets be government bonds, you’ve created pools of price-insensitive demand for your government’s debt.
Put another way, we’re financing our deficits with crypto bros. Compared with taxation, that seems like a win-win.
The digital euro is just so bad
Why? I've never heard of it.
Pretty good video explaining it: https://m.youtube.com/watch?v=CzkVBXDhTwY