and putting more pressure on countries like China and India
121 karma · joined January 23, 2020
and putting more pressure on countries like China and India
All other social media sites feel extremely progressive with no room for nuance.
I won't be doing business with Namecheap in the future
All I see is an expert in a field, who I can't tell if they are right or not, disagreeing with other experts in the same field, who I also can't tell if they are right or not.
Inflation is a tax on those without assets or the available capital to invest in assets. It's a form of wealth transfer to those with assets. Increasing economic inequality is not good for anyone, and some would say the US is already close to a breaking point.
https://www.statista.com/statistics/219643/gini-coefficient-... https://blogs.imf.org/2020/12/11/when-inequality-is-high-pan...
Agreed. People still create the system, but they have zero to little sway in each individual transaction. So, the system can be biased, but with increased transparency, that should become apparent.
> On the negative side, though, there's essentially no rule of law to prevent the people making the decisions in DeFi from doing things that are bad/illegal/invalid.
Very true, there's a lot of scamming going on. It's still very bleeding edge and not ready for mainstream adoption.
> In the regulated finance world, these sorts of restrictions would be disallowed by the rule of law. You can sue them if they try to enforce those rules, and depending on your jurisdiction, you may win and indeed win damages. What's the equivalent in DeFi? Who do I sue? What court do I ask for relief?
At least in the US, this is not the case for payment processors. Banks may be under more strict regulation. Visa/Mastercard can revoke the ability for anyone to process transactions on their network, even if the activity is completely legal. E.G. OnlyFans/Pornhub recently.
The advantage to people is that they can more flexible.
The disadvantage to people is that they can be more irrational.
The problem is that that decision is made by people. Standards of conduct are not universal. What if political affiliation or COVID vaccination status affects your ability to transact with a bank, even though those things have nothing to do with buying or selling real estate
All of those guarantees are under threat of legal punishment enforced through court systems.
All of those guarantees are given to you based on good standing with various institutions. The bank, the intermediary, the seller.
If you were a person who was not in good standing with a bank, but you still had the money, could you have completed the transaction?
Technology has a trend of destroying middleman industries, as they don't provide value and take a portion of the proceeds for themselves.
DeFi, in this case, is targeting the financial institutions because we now have technological means to replace banks and lenders. Does that mean this process is smooth? or ready for mass adoption? Not necessarily, but the destruction of banks by technology is inevitable. It's just a matter of when
It's now just a risk management question for individuals
This is by design. We don't want a strong federal government.
> The slippery slope argument doesn't hold water here. I think we can look at the facts - 700,000 people dead, hospitals overwhelmed, countless people injured or disabled from COVID, and no end in sight - and decide that a strong mandate makes sense here, and that a mandate won't make sense in future cases.
here's some more facts that change the landscape significantly. 5% of COVID deaths were without co-morbidities. On average, a person who died of COVID had 4.0 co-morbidities. (https://www.cdc.gov/nchs/nvss/vsrr/covid_weekly/index.htm#Co...) The vast majority of those dying are 65+. We don't have a COVID problem, we have a health problem. Has the government been encouraging people to take vitamin D, get fresh air, exercise, and get to a healthy weight? The rhetoric has been sit down and get the jab.
> The "government is always bad, personal choice should always win" mindset runs deep in this country unfortunately, and from what I can see, it's often based in nothing other than veiled conservatism and a preference for division and anti-cooperativeness.
The government polices are extreme overreactions by any measure of the data, and government doesn't give power back once it has it.
> Above all else, this sentiment holds very little water when it's coming from people who speak out against a vaccine mandate but choose to stay quiet on things like abortion rights.
I can almost agree here, except the pro-choice people seem to overlap heavily with the pro-mandate people. I don't think you can logically hold both of those positions
It's so easy to reduce this one variable thinking. But the oversimplification is what is dividing us
Once government gets power, it doesn't give it back.
We're pushing closer to 2 Americas, one with freedom and one with vaccine mandates
this comment will age well