• 10 Posts
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Joined 10 months ago
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Cake day: September 1st, 2023

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  • Well, near-zero transaction cost means extremely high processing power. Someone could use that power to create a perfect virtual investment fund that is guaranteed to continuously and perpetually reinvest all its earnings. Nobody would invest in it in a capitalist society, as it would basically act as a money sink, but a socialist state could pour a large enough initial investment into it and let it grow, competing with actual investors and eventually pushing them out of the market. And since those operations would not be censorable, economies already using crypto as legal tender would have no way to stop it.