Quote:
Originally Posted by ShopCat
The specific stock market does not matter, my point was that those systems are actually NOT large in scope and scale in relation to the worlds population and wealth distribution. I'm sorry but you are straight up DELUSIONAL about the current system and what its purpose is. You have the "flow of capital" part right but conveniently forgot to mention the money mostly only flows up. The rich have been getting richer and the system promotes the consolidation of wealth. The top 1% control about HALF of all equities and the top 10% control almost 90%! Yes, wonderful scope and scale!
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Your reply has made me chuckle. So, this response is a textbook case of "deflect and attack" - a technique commonly used when direct, salient facts cannot be made to counter someone's argument and/or support the original person's position. In this case, the deflection is an attempt to move the argument to a completely different subject (the supposition of wealth inequality) - and distract from the original discussion which revolves around the scope, scale, and viability of Bitcoin in the wake of it's terrible environmental impact.
I'm happy to start a new thread/discussion on both the merits and the flaws of the "stock market" - I'd actually probably agree with you on a wide variety of points.
-Wayne