You take cash money - actual dinero, mind you, - and give it to someone for something called a "stablecoin", which, incredibly, mimics a dollar, but is guaranteed either by an algorithm, or by 'financial instruments'.
You are given a token.
Now, if you are particularly greedy-ish, you are then invited to invest that stablecoin in an exchange that gives you a pledge that your so-called investment will return a 20%+ vig to you unfailingly.
Seriously?
No bank ever guarantees a 20% return.
None!
But you, in FOMOistic fervor, sail right in.
Nothing in your melon says "Wait. Stop!" Nothing.
All you see are dollar signs.
In the 2000-era British comedy, "Hustle", a common refrain uttered by the protagonists was simple: "You cannot con an honest man."
Meaning, your greed opens you up to being conned.
Now, you’re crying.
You threw all that money away, folks.
The soundtrack for this blog post is “Throwing It All Away” (1986) by Genesis.
(I’ve amazed myself about not even mentioning the libertarian aspect of this mess.)
