Hacker News Reader

What exactly is fiat based financial system to you? Can you say it's abs. not a ponzi scheme for baby boomers and corporate America?

Because I can't. It's wealth oppur. destrying system only to create wealth for certain age group with assets and their friends.

Millennials and newer gener. are out of most of the "real "financial oppr. by design. So they create their system. It's that simple.

View on HN

I suggest you read about history of money. How it came to be, why humans needed money and what all things have been used as money and why eventually we ended up with money being issued by a sovereign (by a fiat). Then read up on the history of banking. The idea of cryptocurrency and its underlying ideology goes against the fundamental principles of finance and economics that have evolved naturally over past thousands of years ever since humans stopped being hunter gatherers.

Yes but "crypto" is also can be put under entire new asset class. It's slowly growing along with fiat based financial system.

Reply on news.ycombinator.com