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Hong Kongers Denied Pension because of Their Political Leanings
1187 sats \ 1 comment \ @spiderman 6h bitcoin
So, Bitcoin is not only a number goes up game. It is much more, and here is another evidence.
Every state mandated pension fund is the definition of a ponzi scheme, and they will use any pretext to suck a bit more while denying the recipients as far and as much as possible. So if you thought your pension is safe with the government held in some vault...
Another BitcoinFixesThis moment.
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0 sats \ 0 replies \ @south_korea_ln 1h
definition of a ponzi scheme
I understand your sentiment, but from a technical point of view, Cato Institute says Hongkong implements an MFP pension system, not a PAYG system. I.e., you contribute to your own pension; your contributions are not being used for the pension of current retirees.
IMO, the former is much more sustainable than the latter. Ofc, you are still dependent on market conditions and the funds where the money is being invested to. And ofc, it also depends on the government's goodwill, as illustrated here.
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