As part of her “Opportunity Agenda for Black Men,” Kamala Harris ambiguously alluded to a “regulatory framework” for cryptocurrencies.
  • Zaktor@sopuli.xyzEnglish
    14·
    29 days ago

    There’s no such thing as “financial innovation”. There’s just novel ways to fleece people of their money and dodge regulations. Just because there are some winners in a pyramid scheme doesn’t mean the scheme itself is profitable.

    • DragonTypeWyvern@midwest.social
      3·
      28 days ago

      There’s a difference between profitability and productivity.

      A Ponzi scheme is profitable, for the person running it. It is not productive in that it (generally speaking) produces nothing of value. Pyramid schemes can be both profitable and productive, but they’re also innately exploitation and based on a supply of new people to exploit.

      • Zaktor@sopuli.xyzEnglish
        3·
        28 days ago

        A mugging is profitable for one of the parties, it doesn’t make the entirety of the mugging a profitable endeavor. Whether something is profitable depends on what level you’re measuring profitability for.

  • just_another_person@lemmy.world
    12·
    29 days ago

    Follow up question: why in the fuck would the people writing this ASSUME black voters are into crypto? Never touched it, and nobody in my family has either.

    When did this become some of an extra racist fucking thing?

    • geekwithsoul@lemm.eeEnglish
      3·
      28 days ago

      I think some study came out that said something like 20% of black men owned crypto and now we have this. No idea how it was measured.

      Okay - a little digging and it does seem backed up by self-reported surveys. Best explanation I could find is https://www.kansascityfed.org/research/payments-system-research-briefings/the-cryptic-nature-of-black-consumer-cryptocurrency-ownership/

      Basically, from the surveys, it would appear that Black adults own more crypto than whites, with Black men edging slightly higher. It looks to be on the order of 20% with other groups trailing by a few percentage points.

      Disappointed in the Harris campaign for leaning into this, as it seems to be all self-reported survey data and hardly something to build a policy on. Also crypto is stupid, but that’s just my opinion.

      • sorval_the_eeter@lemmy.world
        25·
        28 days ago

        Disappointed in the Harris campaign for leaning into this,

        They are pulling on every possible angle they can find, even the batshit crazy ones now. All so they keep sending those weapons to facilitate a far right wing government in Israel.

        If you go to 538 and look at the projections, even if Harris wins every single “toss up” battleground state and trump only takes the battleground states leaning repub, she still loses. And magats tend to underreport in polls so its likely worse than it looks, and it already looks like a loss, and keeps trending worse every day. https://abcnews.go.com/Politics/2024-Electoral-Interactive-Map?promoref=promo_ElectionIndex

        We’re about to lose this race, because Americans just dont like AIPAC bribes.

        The only way forward is to cut Israel loose and be neutral in their shitty war. Its time for Harris to show some leadership and save herself and all of us from Bidens bad choices. Status quo is not going to win this.

        What say you centrists? Stay the course of our zionist paymasters into certain doom for the US or save the republic from destruction? You get to pick just one, so make it good. Israelis favor trump as their favorite pick by a factor of more than 2 to 1, so they can be counted on to make this even worse in the upcoming days.