I’m amused that you expect someone who openly thinks money is a joke to grasp the subtleties of what constitutes a Ponzi scheme.
I know Ponzi schemes are bad. I think your money is bad. Therefore, your money is a Ponzi scheme. That’s the entirety of the logic employed by the comparison.
Just wait until you hear what they’ve done with the term “market capitalization”.
Because you’re allowed to be this naive on a computer forum on an international network of high-tech computing devices, some of which you own, openly call for economic reforms you don’t understand, and not find yourself up against a wall with seconds to live. That’s why.
Your ability to study crypto instead of working a field to feed your family under the watch of rifles, crypto’s entire existence (arguably), the fact that you’re ostensibly literate, the food in your stomach, and countless other secondary concerns that add up to you making this comment right now only happened because you are subject to a government that permitted it and created an existence for you where you can have all of those things. The other side of that wall has guns pointed at it. Note that specifying status quo does not communicate an opinion on it.
There are real concerns with every world government. On the other hand, it’s naive young people who assume their comfortable existence is “just the way it is” for everyone universally and their ethnicity and sovereign power has nothing to do with it. You don’t have to trust the government to tell you the truth. You do have to implicitly trust that governments worth paying attention to can, and will, exercise actual power when they consider it necessary and consequently create a free existence where you are allowed to flourish. Those are different things. That’s what “backed by the full faith” means. Not that we trust the government to be honest about who it’s talking to late at night on Snapchat. The world implicitly trusts the Third Fleet.
“What has the government done for me?”, you’re essentially asking, on the downstream consequences of a decentralized government command and control network experiment which also happened to feed you your entire economic worldview in a society where limits on education are mostly forgotten, particularly by you.
Do people really believe this bloviation outside of the cryptocurrency thought bubble? I thought you were trolling until the last bullet. Then I realized you’re serious. Hype is value? (To who?) Money is a joke? Comparing economic security to table tennis? Come on, dude, get real. Those are the exact sentiments that disqualify you from having an opinion on economics worth hearing, not qualify. I’d bet currency you consider worthless that you can’t even discuss the tradeoffs of money and why they were consciously accepted by economists who actually studied their subject and went on to advise and design modern civilizations.
Don’t tie these thoughts to a generation as if everyone in the generation expects the outcome you do. I have a hard time believing everyone in Gen Z understands what you’re saying, much less wants what you do. There is no watershed moment for uprooting the world economy that only people of a certain age understand. Revolutions do not happen on Medium. You’re discussing the economy. There are militaries involved.
You are interacting with forces far beyond yourself and acting like you have all the answers. Our entire existence is defined by the economy, and rejecting it wholesale is interesting for a blog post but a complete nonstarter for actual reform. Since humans mostly subsist as a product of economies, you realize poor economic reform kills people, right?
I’m going to reiterate that last point in clearer terms because it needs to get into that bubble with purpose. Say the world stops being stupid and sees your light. Now you need a phone to eat. Do you think those people you just starved to death are going to go “well, Gen Z economy!” or do you think they’re going to arm themselves and start killing everyone involved? History is a guide here and human subsistence is not something a bit of Go can just fuck with because you say so. Good luck!
I know Ponzi schemes are bad. I think your money is bad. Therefore, your money is a Ponzi scheme. That’s the entirety of the logic employed by the comparison.
Just wait until you hear what they’ve done with the term “market capitalization”.