Sure, Bitcoin is by the privileged and for the privileged. So is sovereign currency. That’s kind of how money and privilege work $$$$$$$$$$$
lmao this is off-base garbage. and I say this is as an incorrigible fedora-hating misandrist http://thinkprogress.org/economy/2014/02/27/3341411/bitcoin-privilege … (h/t @CathyReisenwitz).
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But not all payment systems are made the same. Some are more oriented towards privileged users than others (see, e.g., banks versus hawala).
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Bitcoin attempts to circumvent an existing power hierarchy re: money.
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…it’s not doing a good job of it, but it’s not exactly an attempt to shore up existing privilege.
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Privilege is hard to beat. Privilege doesn’t need cryptography to save itself.
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I *will* say that it’s interesting that the distribution of currency (via mining) is rooted in an expensive capital investment (computer).
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But lulz, like sovereign currency never tends to accumulate in the hands of those who already have plenty of it.
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@sarahjeong So my main problem with this is the central banking angle. The deflationary bias in BTC inherently benefits the wealthy. - 4 réponses de plus
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@sarahjeong@CathyReisenwitz seems misogynist too given the implication that women can't be libertarian or understand digital currency -
@sooner930@sarahjeong Interesting point. -
@CathyReisenwitz@sooner930 yeah that part was pretty weird, especially considering that a lot of this stuff just requires pushing a button.
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