Conversation

More than 1.7 billion human beings are unbanked. They are controlled and diminished, in large part, by usurious credit. Providing them with access to cheaper credit is, in point of fact, the single most liberty-enhancing policy initiative in the world today.

Quote Tweet

Eiaine@bitcoinhackers.org

@eiaine

Nov 25, 2018

Replying to @EpsilonTheory and @zooko

if your idea of liberty/justice is cheaper credit and global growth, perhaps. i don't think crypto adherents have the same definition of liberty/justice as you though.

Eiaine@bitcoinhackers.org

@eiaine

Nov 25, 2018

Replying to

@EpsilonTheory

cheaper credit is liberty-enhancing for the unbanked in developing countries, sure. i suspect most bitcoin maximalists are more interested in enhancing liberty for *themselves* first.

Replying to

and

I could not agree more. I keep saying this but 0.5% of the people control 90% of the wealth in bitcoin. It’s a pyramid scheme.

Replying to

Addresses don't correspond to ownership over money. Many people don't take advantage of being able to have their own wallet. Instead they trust centralized services like exchanges to hold their money just like traditional currencies. How can you possibly know wealth distribution?

Replying to

Bitcoin wallets also aren't simply an address. Modern wallets provide a new address for each request to receive money, and there are change addresses too. People using on-chain transactions end up with many addresses vs. exchanges pooling many people's money in few addresses.

4:53 PM · Dec 2, 2018Twitter Web Client