Yeah, like Graeber. “Debt: First 5000 Years” is very much on-topic here. He goes deep into how pre-market societies worked and how capitalism came to be (and tears apart the founding myths of economy in the process). Fascinating read.
Problem is, cryptocurrencies are intrinsically capitalist. They support and perpetuate capitalist power structures. Consider this:
Our analysis reports that, despite the heavy emphasis on decentralization in cryptocurrencies, the wealth distribution remains in-line with the real-world economies, with the exception of Dash. We also report that 3 of the observed cryptocurrencies (Dogecoin, ZCash, and Ethereum Classic) violate the honest majority assumption with less than 100 participants controlling over 51% wealth in the ecosystem, potentially indicating a security threat. This suggests that the free-market fundamentalism doctrine may be inadequate in countering wealth inequality within a crypto-economic context: Algorithmically driven free-market implementation of these cryptocurrencies may eventually lead to wealth inequality similar to those observed in real-world economies.
Yeah, like Graeber. “Debt: First 5000 Years” is very much on-topic here. He goes deep into how pre-market societies worked and how capitalism came to be (and tears apart the founding myths of economy in the process). Fascinating read.
Yay another book written by some guy that complains about modern society makes broad generalizations about human nature and money, idealizes pre-industrial societies and complains about capitalism without offering any real alternative but basically just saying we can do better just what the world needed.
Problem is, cryptocurrencies are intrinsically capitalist. They support and perpetuate capitalist power structures. Consider this:
there are not intrinisically capitalist because they use subsidies and other things non existent in a perfectly free market nor is it surprising the wealth distribution of crypto is uneven since most people don’t use them as a replacement to fiat/even know of them at all never mind the fact that you can freely purchase them from a exchange and nothing stops one from doing so
Yeah, like Graeber. “Debt: First 5000 Years” is very much on-topic here. He goes deep into how pre-market societies worked and how capitalism came to be (and tears apart the founding myths of economy in the process). Fascinating read.
Problem is, cryptocurrencies are intrinsically capitalist. They support and perpetuate capitalist power structures. Consider this:
Yay another book written by some guy that complains about modern society makes broad generalizations about human nature and money, idealizes pre-industrial societies and complains about capitalism without offering any real alternative but basically just saying we can do better just what the world needed.
there are not intrinisically capitalist because they use subsidies and other things non existent in a perfectly free market nor is it surprising the wealth distribution of crypto is uneven since most people don’t use them as a replacement to fiat/even know of them at all never mind the fact that you can freely purchase them from a exchange and nothing stops one from doing so
I vaguely remember how in some other thread someone insisted I read a whitepaper before I comment on a thing. You know them perhaps? 🤣
You might want to read up a bit about the difference between the terms “capitalism” and “free market”.
Anyway, that was fun. Let’s do it again some time.
Yes and you never did that so why should I act in good faith and do the same for you
My mistake I should’ve said a capitalist market economy