@jwz The irony of the irony is though, the tulip mania didn’t hurt those who didn’t buy tulips.
As bitcoin’s value continues to inflate, it sucks value from the economy that actually produces something, and gives increasing slice of the economy & political power to those that run and profit off a system that produces nothing.
@AWStephen @jwz Correct. Increasing amount of financialization of the economy in general is a trend we’ve been seeing since the 1980’s.
It results in markets becoming increasingly disconnected from actual economic prospects of people.
The more money there is with the sole function of moving the market, the less of the total remains with any connection to actual economies producing anything.
jwz
Toni Aittoniemi
Tony