The Albanian experience was shocking, but it happened in a context of wildcat privatization across Eastern Europe that accomplished its goal (reanimating a dead economy) but at great human cost, particularly among those on fixed income, and created a class of criminal oligarchs
-
-
Show this thread
-
In Albania, you also had people who were simply completely unfamiliar with the mechanics of investment, or what a naked fraud looked like. In cryptocurrency, the same obfuscatory purpose is served by the real but useless technology running the Rube Goldberg apparatus
Show this thread -
All the decentralized money tech is innovation cosplay. It's meant to look like a thing that has repeatedly made people rich—an infant technology that will change the world, the next wave of the computer revolution. This mimicry attracts money, which is then held up as proof
Show this thread
End of conversation
New conversation -
-
-
It also had the parallel that skeptics were denounced as being jealous of the huge returns their neighbors were getting and that they just didn't want to see Albanians get rich.
-
How do you say "nocoiner" in Albanian?
End of conversation
New conversation -
-
-
This Tweet is unavailable.
-
MMM is still going. There were three MMM-labelled pyramid schemes running recently on the Tron blockchain
- Show replies
-
-
-
Also a good demonstration that it really is never too big to be a scam. There is no level of popular adoption that will let you Tinkerbell your way around a fundamental insolvency.
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
Indeed, hopefully we don't have to learn the hard lessons of history once again. The resemblance to what's happening right now is so uncanny it's a bit scary.
-
Well the Tether lawsuit specifically said about $1.4 Trillions of damages. That's not scary. That's apocalyptic
End of conversation
New conversation -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.