I'm glad @smdiehl has been talking about the massive pyramid scheme in post-communist Albania, because it has useful parallels to the present. You had a population distrustful of government, a total regulatory failure, and a sense that "this is too big to be a scam" all at oncehttps://twitter.com/smdiehl/status/1398575817739939845 …
-
-
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 -
-
-
Do you have any short positions?
-
You're not going to find many crypto-skeptics with short positions, because most of the ways to short bitcoin involve handing your money over to a crypto exchange, and, lol, good luck actually getting that back when the music stops.
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.