A lot of you coiners seem to have faith that crypto will bring an end to the global banking system and free everyone with decentralized currency.
My question is how is this possible when the blockchain system so massively favors early adopters and people with the starting capital to run mining rigs. When people at the beginning of the crypto boom have thousands of BTC and people who have yet to be born will only have satoshis, aren't you just exchanging one global master for another?
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they will be forced to adopt as no one will value fiat eventually kek
that looks like a nice doggo :))))
Let's assume that's true and BTC becomes the only currency in the future. Everyone will be able to see where their money goes on the Blockchain, and will clearly see that they've been born into a system where they have no hope of ever reaching even .01% the wealth of the previous generation. It would be a disparity more extreme than even the most despotic countries imaginable.
Do you think this would be a good society to live in? Even if you were at the top?
>Even if you were at the top?
Yes, absolutely. For once I'd love being a kike, not the kike'd.
you convert existing fiat to crypto or in your example btc and then contine existing job but imstead of being paid in fiat you are paid im btc how is that so hard to comprehend?
>A lot of you coiners seem to have faith that crypto will bring an end to the global banking system and free everyone with decentralized currency.
Not really. I've been positioning for the total financial system collapse over a decade before bitcoin was a thing.
At least there will be no central banks to steal your money via perpetual inflation.
You are paid in BTC, but at this point (10-20 years from now) BTC has become so deflated that you are part of a permanent underclass. The elites can't even hide it from you because it's all on a public ledger.
Most people are already part of a permanent underclass and it's not exactly hidden
I don't disagree. But I often hear from proponents of crypto about it being a liberating force. If anything, it seems like it's designed to cannibalize future generations.
This.
The early adopters are the ones funding it and the tech that will be used to do so. Its following money. Early adopters are just following the money. Bitcoin just so happens to hedge against the dollar so it is viewed differently.
your only qualm seems to be that it's not distributed equally. are you a commie?
Because if any coin becomes to centralised and monopolies it stops being used and a new coin can simply be created and adopted, the same way bitcoin was originally.
The point is, it ultimately prevents money from having any inherent value (ie from a government forcing you to use it) other than how many people use it and accept it, which is ideally what you want
Are you living comfortably or poor?
Be honest.
Seriously considering this. USD is severely over valued.
I just buy cryptos and if you aren't a total retard who buys ATH. the value will go up.
You know why? because fiat, dollars euro and other government money has long failed and is terminal. ready to die from the cancer that is fractional reserve banking.
No country can ever repay it's fiat debt.
Ever. Fiat worth becomes less by the day.
Why would I keep my value in fiat knowing this? it's stupid.
No? You don't have to be a communist to say that extreme inequality is bad for a nation. It reduces the public welfare and makes things become generally shitty.
Nocoiners can invent their own universal basic income crypto once they figure out Proof of Life.
The reality is that there are very few people from "the beginning" who still have bitcoin. Most of them either cashed out when it hit $1/$10/$100/$1000, or they've lost their wallets.
Sure sounds commie.
I live in England, the region I live in probably 80% of the countryside and farmland is owned by one man - the Duke of Northumberland. He is extremely beta and scrawny looking but he has legal title to all of that land because his ancestors killed people for it.
Is it annoying? Yes. Are people going to kill him over it? Not yet, the farmers still pay him rents to fund his life and pay for the upkeep of his castle (yes he lives in an actual Fucking castle).
The point is the farmers have no choice but to pay him or go to prison or get evicted.
With crypto you have choice to pay or be paid in any cryptocurrency and set the rates at whatever you want, with whoever you want without any central authority.
That completely liberalises the formation of contracts and exchange of value and places it into the hands of the everyday person.
There will always be whales in any economic sphere, but the revolutionary aspect of crypto is the instantaneous transfer of value without any central authority - something that has never before been done in all of human civilisation. The Chinese and Greeks started with coins and 3000 years later we solved the problem once and for all.
All institutions that parasitically feed from the host of the fiat system will wither and die within this century. Jews will be pissed, entire industries will collapse.
We are moving into the next stage of evolution.
Everything pretty much favors early adopters, you need to have poor people to have rich people.
wew im so excited!
The problem with muh deflation is the hoarding, which is why currencies don't 'feature' it, the wealthy can't just sit on fiat and shitpost all day so they buy shit like hotels for poor people to stay in. If the bitcoin flipped fiat we're probably all fucked
inflation fucks up poor people a lot more than richfags, richfags can just sit on gold if they want.
how is this different to society today? lmao
It fucks up the majority of people, not just the poor.
>Do you think this would be a good society to live in? Even if you were at the top?
Yes. Boomers got theirs and I want mine. The young are up the creek regardless, that's why it's irresponsible to have kids.
How can it fuck people who don't have any money to begin with?
You have been giving yourself away as a hardcore liberal and can't grasp a concept.
Englishfag explained it to you as well as can be.
sorry, was watching monitor, i meant communist fag