I’m tired of hearing about the world in political terms framed by R’s vs D’s. What I keep thinking is that generations X, M, and Z need to get their shit together fast before the Boomers make it all go boom.
@jharowicz @alwaysbadideas @SusanneTrimbath Wall Street is already there. Gov rails against it now, but will embrace once big banks positions are solidified. You can trade “paper” Bitcoin on CME right now. Derivatives sidestep blockchain tech and allow the old game to continue.
@d0m1nat0r81@mcuban I see. Well I’m not saying you are wrong there. Only that an ETH loan against ETH collateral seems the same as USD loan against USD collateral. But I agree that the average person is not prepared for the financial responsibility and due diligence required in crypto land.
@d0m1nat0r81@mcuban Not splitting hairs, the point is that insurance solutions are external to trad bank. DeFi crypto insurance solutions already exist and more are being developed. There are plenty of ways to “lose” with fiat paper. Recent FED QE is a bigger scam. TradFi is riskier than it appears
@d0m1nat0r81@mcuban I was specifically referencing the “surety of principal” comment and pointing out that surety is not a feature of banks, its a feature of insurance. It’s unclear what you mean by “crypto failure”…. Like every cpu node supporting a blockchain is turned off or what??
@d0m1nat0r81@mcuban Insurance recoups the $10k. FDIC etc., pays out not the bank. If you have over $250k and bank goes under, you don’t get it all back. In fact the amount over insurance cap will be taken from depositors by bankrupt bank to recapitalize itself into “new” bank. Law since 2008.
@yellowpaiges@void_feline@TinaMaria1976@AOC Actually we’re pretty sure we’ve lost. And that maybe all is lost. It may be too late by the time the Grim Reaper has collected enough of the most willfully ignorant, entitled, and sadistic generation. Hint… it’s boomers 🙃
@RareBirdCreativ @steak_umm Kasparov has said other things like this from time to time. I think about this often and wonder if there is in fact a singular force/cabal behind it all, or if it’s actually emergent behavior and the sum total of all individual personal corruption amplified by technology?
@solkanar512 @thankyouhinkie @N__Michael@Jovan333@Acyn@JessicaTarlov I’m mad because those “solid investing practices” = insider trading if done by any other citizen.
@RigelOrionBeta@beerandsteaks@joshuaostroff@chucki210@kenklippenstein I don’t think I have asserted anything as an absolute indisputable fact in this thread. Your argument style thus far is presumptuous, riddled with vague insinuations, and lacking intellectual nuance. Carl Sagan as a profile pic seems incongruous to this approach.