“an inherently right-wing, hyper-capitalistic technology built primarily to amplify the wealth of its proponents through a combination of tax avoidance, diminished regulatory oversight and artificially enforced scarcity.
You say that like it's a bad thing, lol.
He argues that cryptocurrency has taken the worst parts of today’s capitalist system (e.g., corruption, fraud, inequality), using software to technically limit the use of interventions (e.g., audits, regulation, taxation) that serve as protections or safety nets for the average person.
Oh yes, the government will come save us. I can't wait. They sure do a good job of audits and regulations. I feel so safe after the taxation as well.
Why is artificially enforced scarcity stupid? I don't think having an inflationary currency is a good thing. If it was, there would be little point in creating cryptocurrency when we already have the digital dollar.
You say that like it's a bad thing, lol.
Oh yes, the government will come save us. I can't wait. They sure do a good job of audits and regulations. I feel so safe after the taxation as well.
I do agree that artificially enforced scarcity is stupid and the limiting factor.
When we were focused on the gold standard, it was based on real precious metal scarcity.
There is not a limitless amount of gold on the planet, and we do not artificially enforce scarcity. It's just actually scarce.
Why is artificially enforced scarcity stupid? I don't think having an inflationary currency is a good thing. If it was, there would be little point in creating cryptocurrency when we already have the digital dollar.