Capitalism is a scam against the working class. I dont know how people can read things like this and not want a huge reform. The OP "just following orders" is ridiculous.
Also, whenever the question "where are the tech unions at," comes up ,its because the system crushes anyone who is slightly left leaning in this regard.
Excerpt:
You’d be one of the best people they’ve seen in years, and unlike the people around them, you’re honest and ethical. The thing that’s holding you back is… a reputation problem. People Google you and think, “This guy’s going to start a union.”
This is going to make it hard to place you. Guys like [name] don’t like people they can’t buy. If I were you, I’d start blogging again and come out against unions. Do that for six months, and I can put you anywhere you want to go.
get born in the south side chicago and see how that works out for you to have a nice car and a fun job :) the main reason you have them is zipcode where you were born
My father was born in mexico, came here with his parents who worked in agriculture. He worked his ass off to make it to a comfortable, modest, middle class neighborhood. I didn't go to college, but found my way into the tech industry because it's about as close to meritocratic as anywhere else has been in human history.
Is it perfect? no. Is it better than everything else because of Capitalism? Yup...
I hope things get ever better and more prosperous for you and your family in the future!!
In some scenarios capitalism can work really, really well. but lose a job, have a health issue and you then see that it is just a house of cards that generally works for small fraction of the population. not that other systems don’t have their own issues (and more) but capitalism is always good in the eyes of the beholder and over time there are less and less happy stories (USA is perfect example, see graphs of income inequality/gaps over time…)
It's not an inherent feature, but they steer it in such a way so, no, there isn't (at least not for long), unless someone would make a good case for it at some point in the future
The interesting question would be what their currency, where this 11% is offered, typically loses year-on-year
Basically they will become the toll-lords of the internet.
And because of that, THEY can choose what they accept as payment.
A stablecoin (probably just run by them but technology coming from one of the stablecoin providers like Paxos) is perfect for this, as it will be regulated and akin to a digital dollar, with the addition that they can earn yield on treasury bills at the same time.
and sending money cross borders to your family
and paying suppliers outside of your country
and having a multi-currency account without insane fees
and automating finance
and upgrading financial systems to modern tech
Hi, thanks for correcting me on that. It actually says right [here](https://docs.ethena.fi/solution-overview/risks/exchange-fail...) that they use CEXs to trade the derivative positions so I clearly didn't do my due diligence on this. I don't mind being wrong but I shouldn't have been spreading misinformation when I didn't know the details so I apologise for that.
I'm actually quite disappointed that this is how they implement the protocol because to me the main benefit of the hedged collateral model was that it was the one way to produce a truly decentralized stablecoin. Do you know of another project that implements the same mechanism fully on-chain and decentralized?
