No, you canât own a fucking color, you absolute lunatic
The world of crypto is full of scams, grifts, and absolutely foreseeable flops. The underlying ideology of cryptoâââthe much-vaunted âsystem designââââstarts from the principle that systems are most stable when they appeal to each participantâs self-interest, rather than their solidarity, generosity or empathy. This is an extension of the âgreed is goodâ / âthereâs no such thing as societyâ ideology of the Thatcher-Reagan revolution. Itâs an ideology grounded in empirically false propositions about how people actually behave in markets.
In a recent interview, Yanis Varoufakis describes his experience running an economy in God-mode when he was chief economist of Valve, overseeing game economies with âaccess to the full data set in real time,â lured by the prospect of âplaying âgod; i.e. being able to do with these digital economies things that no economist can do in the ârealâ world, e.g. alter rules, prices, and quantities to see what happens.â