Modest Model 3 on Nostr: I've been reading Bitcoin Is Venice and looking for a simpler explanation for the ...
I've been reading Bitcoin Is Venice and looking for a simpler explanation for the fiat Ponzi. It occurred to me that Monopoly would be useful as an explanatory model. Normal Monopoly is a pretty fair game, but with a couple of small changes, it could be Fiat Monopoly. Just give the banker the ability to inject money to a player, and allow the banker to levy a tax for each round. Then the game takes on most of the characteristics of the fiat Ponzi. The money injection increases the money supply, leading to asset price raises/inflation, and wealth transfer from the players who don't get the additional money.
Am I way off base here or is this a good explanatory model for those who don't have time or energy for going down the rabbit hole??
@allenf32, @sacha_meyers, @Martellfox, @jackmallers, @FossGregfoss, @lawrenceLepard, @JasonPLowery, @natbrunell
Am I way off base here or is this a good explanatory model for those who don't have time or energy for going down the rabbit hole??
@allenf32, @sacha_meyers, @Martellfox, @jackmallers, @FossGregfoss, @lawrenceLepard, @JasonPLowery, @natbrunell