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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Bitcoin attempts to circumvent an existing power hierarchy re: money.
…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 -
I don’t see many liabilities being voluntarily taken on in BTC, so deflation/debt don’t interact that much in practice imo
@russellbrandom -
I still think the current deflationary parameters are not viable, but I don’t think it impacts actual IRL inequality much.
@russellbrandom - 1 réponse de plus
Nouvelle conversation -
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@sarahjeong It's just begun! It will revolutionize banking for the better.Merci. Twitter en tiendra compte pour améliorer votre fil. SupprimerSupprimer
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