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I shared this before.
If you were a person of color, having Uber and Airbnb were a game changer. Taxis and hotels were awful from the 80s-2010s.
Taxis were racists and often wouldn't even pick you up. If they did, they often took you on a joyride. Hotels were absolute shit holes. Want to complain about your room? Go pound sand.
Those industries werent good for decades. And the disruption actually made car sharing much more consistent and hotel experiences better.
Interesting perspective I never accounted before thank you. Cabs were notorious for not picking up black people. Can't speak for hotels.
I don’t think I’ve ever ridden a taxi without them trying to pull one over me in some way.
Well yeah but... Fake money, is "real" money real? The support structures behind bitcoin and dollars or euros are different and both have positive and negative aspects. All in all bitcoin is worse, mainly for the power usage, but if it comes to ease and speed of transfer for the average user bitcoin rules. I guess we can mostly thank banks for that.
This raises the question of how much pollution is created by the dollar in the form of increased consumption from shortened time preferences. The dollar inflates to encourage people to spend more now instead of save, so that the economy gets bigger.
Man it's so brutal when you think about it like that. Inflation is theft by the back door.
The feds job is to force people to stay productive. It's a feature, not a bug.
That's not how it works. When you invest into the stock market, it actually beats inflation in the long run. So inflation doesn't actually make me spend any more money than I would otherwise, since investing it would still later improve my buying power even more
You mean that investing in the stock market is a hedge against inflation? I can't argue with that. But not everyone has money to invest in the stock market after rent, bills, food etc. Unless your wages/benefits rise in line with inflation or you have money to spare, you basically only have the option of buying worse stuff or simply going without it.
Fake money for criminals only because it was useful for me when I wanted to buy drugs while living in a place with little access to them
It's especially funny since criminal enterprises have used "legal" currency since its invention. It's almost like criminals are gonna criminal, regardless of the "tender". 🤌🏽
I'd say fake money.
For uber, we've never had the overpriced cabs that it was made to circumvent in the first place. It was more of a wild west with lots of smaller companies with in-house made sites. We've even had an app that checked their prices, ordered the cheapest ones and cancelled others once a car is found. Then a major player entered the market, and they didn't know what the fuck they were doing, giving estimates but driving by the meter, which ended up consistently much higher in the end. Then uber came, and started undercutting everyone with stupidly low prices, but their app/maps are an unbearable garbage. So they did a merger with previous one, combining the idea with decent app, and continued until competition crumpled. And now they're screwing both drivers and customers hard, but there's now no alternative.
The only good thing that came out of it is incentive structure and a punishment for drivers for not taking orders. It made it so that as a customer you can safely order without fear that you'd have to wait for hours to find a car - your hot potato order can't be passed off forever, and somebody has to pick it up eventually, even if it's a bad driver who majorly fucked up recently and now has to take it for redemption, or otherwise lose his job.
Airbnb never made financial sense to me. Because every time I looked there, I found the same, and much better options, for as much as half price on local ad boards. Seems to be just a convinience factor, as renters just put their properties at 2x there for an off-chance a rich tourist checks in.
AI to me seems like a dead end. The innovations are cool and flashy, but they inevitably fall short of being reliable enough to be useful. Like, I don't use chatgpt anyhow because there's always a chance it'll spit out plausible bullshit which makes it so that every answer must be double-checked. And if you can find the source to check against, then why even ask the bot in the first place? Same for art, it can get you maybe halfway there, but refining the prompt takes skill and time that'd be better spend learning to edit and make real art instead.
But for cryptocurrencies I should've bought in way sooner. Even if they didn't hit ATH's every few years. I find that even drug dealers and crooks are more trustworthy than my own government, who is actively malicious, and has hurt my financial wellbeing harder and more often than even the crypto rug pulls. And that's coming from someone who got hit by luna, ftx, and even mtgox, among others. Still better than the government straight up saying that you don't own any of your money anymore. Yes, the ecological impact sucks, but it's not a crypto problem specifically. I don't see how mining is worse than, than, say, a literal mining operation across the road that uses electrical heating because they're too poor to fix their windows and put proper insulation, and running heaters just makes financial sense? There must be regulations to make dirty power more expensive, which will make the problem solve itself. And if we have green energy, who cares what one's using it for? Mine, game, hang christmas lights, whatever, who gives a shit
government straight up saying that you don’t own any of your money anymore
What are you referencing here?
I feel like I should be recognizing some specific thing here, but I can't figure it out.
Well it's third world problems, but the specific event I had in mind was when Russia froze all it's citizen's foreign assets in 2022 in an attempt to save it's own currency from plummeting. This left a lot of people stranded, myself included. I did eventually get mine out, but the law, as far as I know, is still in place, so I tend to think it was purely by luck and some mistake on the bank's side. Others didn't have it that lucky, I've heard of people being fined as much as $400 for just trying. But, it's just one case, I believe there's lots of other places where you just can't trust the government with money - African, South American, Central Asian countries first come to mind. Even Canada had a scandal where they froze COVID protesters assets - I don't support the cause, but I don't think the government should have power over dissenters assets either.
Sure, offshore accounts and physical assets can work in those cases too, but it can be challenging to get a hold of them as an ordinary citizen. Crypto circumvents that by being uncontrollable by design and widespread enough that I can exchange it in some back alley in one place and then again in another with less risk and overhead than any other way.
Ah, that all makes sense. I live in the US, so I'm looking at it from that lens.
don’t think the government should have power over dissenters assets
Agreed, but this is a thorny problem. Clearly the government has a legitimate cause to freeze some assets in some cases (obvious example: US govt freezing Osama bin Laden's accounts). This becomes an abuse-of-power question, then. Unfortunately, we as humanity don't have a good answer to it.
third world Russia
Technically, Russia would be second world :)
I do think cryptocurrencies fall short of the promise/hype with the exchange problem -- either there's a big bank-like clearinghouse that the government can target with freeze orders, or you're in "You have to know a guy who knows a guy" territory when it comes time to actually use the cryptocurrency. I can't pay my mortgage by transferring Bitcoin or Ethereum to my bank.
what's the fake money for criminals
Cryptocurrency
that's not fake money, and it isn't "for" criminals. it's real, and that's why criminals use it.
They only "use it" to transfer the funds. Once they have it, they cash it in. No criminal is keeping it in crypto form. They use it the same way they use Apple gift cards.
tally sticks were debt tokens. people used them as money out of convenience, and would exchange them for cash if it was possible.
An easy way to tell if it's "real" money or not is to see if goods are ever priced directly in it, where it isn't just directly indexed to the exchange rate of an established currency.
Hint: Even places that accept crypto payments don't do this. The crypto price fluctuates based on the moment by moment exchange rate to the local currency.
So latin American currencies are not real money. We already knew but wow harsh reality
fake money for criminals is just money in general, at least some crypto currencies don't allow for tracking
at least some crypto currencies don’t allow for tracking
The blockchain explicitly tracks transactions between wallets.
Anonymous and untraceable internet traffic tool for paedophiles, data thieves and occasionally a journalist living under an oppressive regime. But mainly paedophiles.