Post
Topic
Board Altcoin Discussion
Re: Who could be trusted to do governance?
by
kelsey
on 02/03/2017, 12:45:30 UTC
whats the point of being an alternative to the greedy bankers system if we ourselves become the greedy bankers  Huh

The greedy bankers system we have today concentrates more and more power to the greedy bankers. Ie, because they have money, they can get more money, because they are in charge of the interest rates etc they can affect the economy.

In a cryptocurrency greedy banker scenario as the banker "consumes" his wealth (stake in the crypto currency) he becomes less relevent because as a percentage his share is going down.

eg: I realease a coin and pre-mine 50% of the coins. People start buying the other 50% and put the price up, so I decide i'm going to dump 50% of my holdings, I make some nice alternate currency (ie, USD) and feel very happy, fat and greedy, but, now I only own 25% of the currency. Thats not really how it goes in the current system of greedy bankers, where they get rich, spend it, the print some more and give it to themselves.

 Huh i think you really misunderstand what i meant by crypto's greedy bankers. your example is comparing apples with oranges; ie comparing fiat bankers with the premine scam coin pump and dumpers (which are far removed from the new breed of greedy bankers forming in crypto).