This 141-year-old retailer outperforms Amazon
Forget about big tech companies. This old stock is expanding rapidly while increasing its dividend. Believe it or not, the company has easily beaten Amazon's stock price by 117% since 2019. Read Benzinga's latest insider-only report to set yourself up for future profits, income, and more with this stock.Get access for just $0.99.
Americans considering emigrating if “their” candidate doesn’t win the 2024 presidential election may want to consider a novel idea from an Ethereum co-founder. Vitalik Buterin It is called “Degen Communism”.
what happened: In his latest blog post, Buterin suggests that “there is a growing sense throughout the Western world that all our political ideologies are outdated” because they are unable to cope with the complexities of the modern world.
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He proposes “Degencommunism” as a new political ideology that embraces chaos while ensuring that the outcome is in line with the common good.
Degen Communism is accepted by any organization with network effects, including crypto projects, social media platforms, virtual gaming environments, and governments.
It is a political ideology that recognizes the chaos inherent in these areas, yet modifies key rules and incentives so that the outcomes of this chaos are beneficial to the common good.
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Buterin uses the world of cryptocurrencies as an example to explain the principles of Degencommunism.
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Despite its unpredictable nature, the crypto space has not only survived but thrived due to its inherent chaos. Buterin recommends steps to reduce the human cost caused by the downside of this disruption, such as prioritizing small users for refunds if a project goes bankrupt.
The principles of Degen Communism have also been proposed for application to real estate markets, intellectual property, immigration systems, and institutional decision-making. The goal is to embrace dynamism and change while ensuring that benefits are shared fairly and risks are minimized for the most vulnerable.
why is it important: Degen Communism: Happens when the cryptocurrency market embraces volatility in the form of meme coins.
Traders who call themselves “degens” (short for degenerates) are accepting meme coins such as: dogecointhere was a 10% price increase in the previous week.
on the other hand, Ethereum (Crypto: ETH) has fallen 3.3% over the past 7 days, failing to keep up with the meme coin’s impressive pace. This volatility in the crypto market highlights that concepts like Degen Communism, which embraces disruption, are inherent in the crypto market.
Whether it functions as a political ideology remains to be seen.
what's next: Topics such as the impact of Ethereum as an investment vehicle will be thoroughly explored at Benzinga's upcoming Future of Digital Assets event on November 19th.
Read next: Hedge fund manager predicts $150,000 Bitcoin boom in 2024: 'Bitcoin is the king, the dominant token'
This content is created in part using AI tools, and reviewed and published by Benzinga editors.
Image: Shutterstock
This 141-year-old retailer outperforms Amazon
Forget about big tech companies. This old stock is expanding rapidly while increasing its dividend. Believe it or not, the company has easily beaten Amazon's stock price by 117% since 2019. Read Benzinga's latest insider-only report to set yourself up for future profits, income, and more with this stock.Get access for just $0.99.
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