No one needs to explain anything. I transact in it and it works, therefore it is an efficient mechanism for value transaction. If you don't want to participate then fine, but as the person you replied to said, evidently enough people do.
Sure. Let me rephrase: being taken seriously requires you to explain &c. This is a public forum; nobody particularly likes it when someone says "this is so" and doesn't offer an intelligible explanation.
With enough incentives (including a large pool of greater fools), you can convince otherwise reasonable parties to use your scheme. But that doesn't make it a financial scheme; that makes it a financialized scam.
That's the thing about this stuff: it's voluntary. That's the point the above commenters are trying to make. We don't need a consensus of you all to do what we want, and if you don't want to be involved, don't.
woodruffw|3 years ago
With enough incentives (including a large pool of greater fools), you can convince otherwise reasonable parties to use your scheme. But that doesn't make it a financial scheme; that makes it a financialized scam.
betwixthewires|3 years ago
That's the thing about this stuff: it's voluntary. That's the point the above commenters are trying to make. We don't need a consensus of you all to do what we want, and if you don't want to be involved, don't.
bigbluedots|3 years ago