Murtaza Hussain pfp
Murtaza Hussain
@mazmhussain
One thing I learned from cryptocurrency and now social-fi platforms like Farcaster is that money is completely fake and bears no necessary relation to labor as most people had assumed and continue to believe. Its possible to literally generate money out of thin air using clever tricks and obfuscations. Of course people in finance already knew this years ago and the knowledge has simply become a bit more democratized.
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​woj pfp
​woj
@woj.eth
word by word, this is exactly the same thought / line of thinking i ended up on this year
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HH pfp
HH
@hamud
I still believe that it does, otherwise it becomes a pure pvp game. Who can get out first.
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Trigs pfp
Trigs
@trigs
Money is just a construct created to control trade. Human beings are inherently social, but social interaction requires building trust. The current economic structure is designed to provide people with the ability to trust each other enough to engage in 'free markets', by simply trusting the centralized authorities that control the money to enforce the rules around our industry. The more we democratize knowledge, the less we have to rely on authorities to make decisions on how to allocate resources for us. We can make money reward labor more effectively, but we have to take control of curating the /impact of each other's actions. https://warpcast.com/trigs/0x8048a9bd
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kripcat.eth pfp
kripcat.eth
@kripcat.eth
So many people on this protocol will nod along to this and in the next breath proclaim with absolute conviction that we live in a meritocracy.
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zoo pfp
zoo
@zoo
same vibe https://warpcast.com/zoo/0x9ea5a7c9
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Daniel Fernandes pfp
Daniel Fernandes
@dfern.eth
money = debt, and the biggest debt we all have are taxes. so tax obligations create money. simple MMT. tax obligations are created by law & decree, so in a sense out of thin air—by fiat, but the consequences for not paying them are very real. so money creation is easy...enforcement is difficult. it's easy to create a token, like a stablecoin, it's not easy to enforce its value...see Terra/Luna, OHM, all memecoins, etc... great debate btw: https://www.youtube.com/watch?v=cUTLCDBONok
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rafa pfp
rafa
@rafa
@ramon
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Nico pfp
Nico
@nicom
That's why states telling they have to reduce their debt are totally wrong. No one has to repay debt unless they are in physical danger if not. Nations debt is a game where the first to repay loses. Debt just created more money. Money is trust in power to increase debt.
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enfanty wowowo pfp
enfanty wowowo
@enfanty
Money's value is artificial, not directly tied to labor. Finance has long exploited this, now more people realize its arbitrary nature
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TobyJaguar pfp
TobyJaguar
@tobyjaguar
Money is a technology. Some tech is better than others.
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Quelz🎩 ↑ pfp
Quelz🎩 ↑
@quelz.eth
💯🎯
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gweiwhale.eth 🔵🎩 pfp
gweiwhale.eth 🔵🎩
@gweiwhale.eth
nihilist feels from money printer go brrr. Both gov and web3 printers that is. in the long run, it tethers to labor production or God help us all.
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anon pfp
anon
@superanon
same with APY in 2021 finance is just being the least illiterate and first to realize what others expect.
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