How fair is the deflationary nature of crypto currencies? The Ponzi scheme accusation revisited

I was referring to a decision to judge a new system on a basis of current state as slippery slope. If you take current state as axiom you will always conclude back to that axiom regardless of what the new system is or brings to the table.

Never said that was a slippery slope, I was just explaining (apparently unsuccessfully :sweat_smile:) how taking current state as basis to start a score card would inevitably conclude that anything starting in such state would immediately lead to skewed score cards and spiral down to the same conclusion. Which is : Starting point is not fair, there for new thing at that starting point is not on even ground, there for new thing is unfair.

Strongly disagree with that statement. Bureaucracies may have started with such an idea, however I haven’t seen any hold up over time. Due to exactly the reasons I mentioned. Human error, corruption and incompetence. Refinements to such system are always possible and in better systems expected, but they still fail over time.

Yes.

As protocol is being built there are permission-less features and protocols that will award ADA. Also, ADA is not replacing all thing of value or currencies, so anyone willing to trade old world value for ADA gets in. It’s 100% voluntary. It is not imposed on anyone, so it doesn’t have to be charity.

As far as you are willing to use the code and verify, not just trust what random person tells you. Code is an agnostic tool. You can choose to use it for security or not.

I don’t think of early entrant or any early adapters as Ponzi leaders. They may be risk takers or even greedy or gamblers. However, just because you are early doesn’t mean you are scamming nor does it mean you hope to scam sooner.

It is if it doesn’t matter because everyone still has the same access, safety and opportunity. There is nothing stopping a skilled coder with no money from developing dApp on Cardano regardless of how many whales there are in the system. Nothing stopping someone with no bank account to open a wallet on Cardano and use it for savings. I bought my first Cardano on Ebay using PayPal credits. Then I got some more by trading some of my MTG cards.

Why do you assume that ADA will retain the main position on Cardano? It could be that one of the side chains in the future issues it’s own token (hopefully with out a dog logo :wink:) that everyone starts using as preferred currency. If protocol falters at reaching it’s goals I believe that solutions will come up. One of the main reasons why I have 90%+ of my crypto in Cardano is that the protocol is built with change in mind. As any technology it will need upgrades. maybe it will need an upgrade to tokenomics. Maybe it will develop new tokens for new uses. I find that extrapolating that far into future gets progressively away from reality, especially when we are talking about technological advancement.

100% agree with that. And I’m not advocating replacing such nations, just improving them with Cardano. I think countries, just like individuals, could benefit from replacing parts of their bureaucracies with protocol such as Cardano.

Also, 100% agree. However, if this is a tool that does advance such cause it should be considered/ tested/ implemented. Political solution and tech solutions are not mutually exclusive. There just has to be a will to give up some power at the top for benefit of the whole.

Yeah, I’ll stop here :smiley:. Sorry for dropping essays on you, but you started an interesting topic. :+1:

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