Except that it seems a lot of these trades are on-paper, and not involving the actual transfer of goods. The data centres aren’t getting built. The servers aren’t going in them. The power isn’t being supplied. The tokens are not being generated. At least… It’s only a fraction of what they are all saying.
Yes but who actually cares? If society tolerates no actual real physical transfer of goods and leaves it all speculative, it doesn’t matter. The deals are made, financial institutions accept this, realistically it doesn’t matter that none of this is “real”. If society decides that it’s real, it’s real. Just like how paper money has zero real tangible worth. It’s all an agreed upon concept. The same is happening here.
The economy we had for the last handful of decades is gone. Speculative economy where only the top percentage trades with itself is where we are at and where we will stay.
It can’t be completely circular. There is an end customer that will expect something for their money eventually. Right now it’s driven by huge amounts of debt, but you can’t be on that forever. At some point it unwinds
Except that it seems a lot of these trades are on-paper, and not involving the actual transfer of goods. The data centres aren’t getting built. The servers aren’t going in them. The power isn’t being supplied. The tokens are not being generated. At least… It’s only a fraction of what they are all saying.
Some auditor is going to have a field day.
Yes but who actually cares? If society tolerates no actual real physical transfer of goods and leaves it all speculative, it doesn’t matter. The deals are made, financial institutions accept this, realistically it doesn’t matter that none of this is “real”. If society decides that it’s real, it’s real. Just like how paper money has zero real tangible worth. It’s all an agreed upon concept. The same is happening here.
The economy we had for the last handful of decades is gone. Speculative economy where only the top percentage trades with itself is where we are at and where we will stay.
It can’t be completely circular. There is an end customer that will expect something for their money eventually. Right now it’s driven by huge amounts of debt, but you can’t be on that forever. At some point it unwinds
Yeah, all this is illegal not because it’s an infinite money glitch, but because it acts like it is while destabilizing the economy