ellynu

ellynu wrote

Israel is white, Palestine is brown/Israel is white, Palestine is muslim

this is definitely a way that people are gonna defend them but there is also a large collection of jewish israeli people who have a long family history in the middle east and definitely would not be considered white in any sense, and i feel like that's important to understand too.

the mizrahi/sephardi haredim (super orthodox) conservative religious party in the knesst holds more seats than the ashkenazi equivalent, for example.

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ellynu wrote

fiat currencies at least have the value of being a generally accepted item with an exchange value that is easy to use to trade for things, and its backing is usually the existence of the states that made them and the institutions and laws they use to back things. bitcoin/ethereum/etc are mostly useful as a speculative commodity. in the terms of capital, they are much more M-C-M (exchanging money for a commodity, at the hope of selling it later for more money) than C-M-C (producing something to get something else that you need).

if tether, for example, was operating by minting regular currency rather than cryptocurrency, it would be so obviously a giant scam. creating fake dollars to buy other fake dollars to bump up their price to back the fake dollars they made and repeat.

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ellynu wrote

Apparently it's "collateral backed", so it seems USD.

its backed by other coins, like other stablecoins including tether, which is notorious and involved in pumping up the price of other coins

that's just a problem with capitalism. math and software isn't gonna fix it

this is true

it doesn't impact the value of cryptocurrency

i am still not convinced it has any real value, rather than just a bubble backed by the hopes and dreams of software devs and desires of grifters.

i feel like we've had substantial discussion to agree that cryptocurrency isn't a "grift".

it definitely is built upon grifts

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