Pretty Solid Call https://twitter.com/MustStopMurad/status/1044657418179923969 …
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Replying to @BeerdHead
thanks. I would note though that if Hyperbitcoinization happens Marxism / socialism becomes essentially impossible. Bitcoin is fundamentally a hyperfree-market, slightly right-leaning anarchist technology.
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Replying to @paulkrugwoman @MustStopMurad
Bitcoin is fundamentally Oppositional to the modern form of global capitalism (and the Nation States/ banks) that prop it up. Marx envisioned a post-state world, which implies Post-State Currency Don't Arbitrarily Close Off your imagination with eternal Capitalism grandeur ;)
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Replying to @BeerdHead @MustStopMurad
“Marxist crypto” sounds like “stylish socks in sandals”
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Replying to @paulkrugwoman @BeerdHead
Redistribution is impossible with Bitcoin because it is uninflatable, unseizable and essentially untaxable. Socialism isn’t socialism without redistribution. Bitcoin is ultimate capitalism, ultimate free market, ultimate meritocracy.
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Replying to @MustStopMurad @paulkrugwoman
If Bitcoin is ultimate Capitalism, then How are all global miners of varying skills still compensated exactly the same for the same amount of output??? Shouldn't the protocol negotiate against miners to minimize it's costs for labor?
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Replying to @BeerdHead @paulkrugwoman
but miners aren’t compensated the same... they have differing profit margins based on the quality of their hardware, the way they set up the farms, the way they negotiate their costs, etc.
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Replying to @MustStopMurad @paulkrugwoman
understand but compensation is not negotiated from protocol perspective Take nuances of hardware, etc put that aside Assume any 2 miners seeking reward Why doesn't network negotiate downward re: amounts distributed? Any System that's automated is intrinsically anti-capitalist
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There is no contradiction, the more capable miner will receive a greater % of the reward. Miners mine voluntarily and self-select themselves to partake in this activity, there is nothing unfree here at all. They make economic calculations and make a choice.
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