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).
Sure, Bitcoin is by the privileged and for the privileged. So is sovereign currency. That’s kind of how money and privilege work $$$$$$$$$$$
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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. -
Everything inherently benefits the wealthy, yo (But yes I understand your point+)
@russellbrandom - 3 réponses de plus
Nouvelle conversation -
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Merci. Twitter en tiendra compte pour améliorer votre fil. SupprimerSupprimer
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@sarahjeong Kind of how... currency just tends to work.Merci. Twitter en tiendra compte pour améliorer votre fil. SupprimerSupprimer
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