Bitcoin will increase privatization and the full-on nightmare of capitalism will be here. Enjoy. Your Bitcoin may be going up in value, but the world will soon be completely dominated by corporations with this type of payment system.
You are viewing a single comment's thread from:
You speak as if the world isn't already dominated by the full-on nightmare of unchecked capitalism. Corporations already dominate the world. At least crypto gives the little guy a chance!
Of all things, "Crony Capitalism" is the worst, I think - and unfortunately quite real, some of the biggest corporations consider politicians to be mere puppets that can be controlled for giving the corporation even bigger power. For instance, there seems to be no upper bound on how much of the tax money is directly or indirectly subsidizing Microsoft - for instance, our schools and universities are efficiently tax-paid mandatory institutions where the masses are being instructed to become good users of Microsoft Windows and Microsoft Office. It's an extreme subsidy - of course anyone in their full minds will choose Microsoft Windows and Microsoft Office when that's products 99.5% of all the (potential) employees knows how to use.
I absolutely don't believe crypto currencies aren't going to solve all world problems, it will solve some problems and induce new problems.
To me, I find it important getting rid of the credit card oligopoly, to get rid of the need of "trusted parties" taking a big cut in transactios for doing very little useful work ... I do believe blockchains may help with this (hence, I'm very positive towards blockchain technology as such), but it's absolutely no trouble-free "silver bullet".
In credit cards the seller pays a fee. In bitcoin the buyer pays. The store should be able to offer lower prices if they accept crypto. We should expect a discount from a store that offers both options.
Yes, it's a big problem. The credit card duopoly have standard conditions that the merchant should carry all the fees and give the customers the same price no matter the payment method. I believe that in some few jurisdictions there are regulations in place forbidding such agreements, i.e. in Denmark they do push the credit card fees over on the end-user.
I was a big user of credit cards for quite a while and a very early adopter; quite many of us are efficiently bribed to use credit cards. The prices in the shops are the same no matter if using credit cards or not, but the shop pays hefty fees for accepting credit card payments. In addition the credit card companies rake in penalties and heavy interests from those who aren't able to pay the full credit on the due date.
Quite some of the credit card issuers efficiently pays their customers to use the credit card - sometimes with up to 1% kickback on all purchases, sometimes even higher kickbacks on some of the purchases, often with a free time-limited credit, often with other perks, such as access to airport lounges, free travel insurance, etc.
In Norway we were very quite early adopters of plastic payment cards with magnet strip, we have a national de-facto standard ("Bank Axept") for debet payments, some of the banks were even experimenting with smart chips on their banking cards around 1990 - decades before it got normal.
I don't like the Norwegian "Bank Axept" standard as it's a proprietary solution that have had sort of a de-facto monopoly in Norway, but at least it's a lot cheaper and better than the Visa/Mastercard duopol - and it's gradually being pushed out. The shops pretty much needs to support the international credit cards both due to tourists and due to fellow Norwegians using credit cards - and due to the bribes, more and more people choose credit cards without support for "bank axept".
We know this..but again...Bitcoin is about anonymity and removing onself from the entire banking financial system. If you can exchange money (after your initial credit card purchase) without being tracked by the government...then they cannot tax you. This is massively exclusive system heading towards tax evasion and privitazation of currency.
But it opens it up to everyone. Right now only the rich get those mega tax breaks.
Rich people and coorporations already know how to avoid taxes. Most of the taxes are payed by the working class that is getting repressed from their own taxes.
If government is doing a good job, they could make a law that you can join their state for the free sake with all the positive and negative aspects. Only then you have to pay taxes; better call them member fees.
That would be the challenge to make good policy again!!
Why do you need to pay taxes to pay for Govt services.
Govt could issue it's own money to buy or pay for those services.
Currently, what Govts do is BORROW money from private Bankers (by issuing Govt bonds / Gilts ) Govt should PRINT, not Borrow to pay for Govt services, then there would be no debt, and no need to pay taxes to repay those debts.
You're making a serious error in thinking that printing money is any kind of solution to debt. All it leads to is the dilution of the money supply and eventual inflation, which is even worse for the average person. You can think of it as government borrowing from the future value of its people's money instead of from institutional debt holders.
If you want to see where printing money takes you - and I think the post actually mentioned these examples - take a look at what happened to the Zimbabwe dollar throughout the '00s, or what's been happening in Venezuela recently.
u think that the Bitcoin will turn into a one world currency?
Bitcoin was just the pappa, there are 1000s of other coins, and some are completely anon.. fiat money in 2 years max will be worth fuck all. Clever people buy now because it's obvious :) anyway it only takes 51℅ to wakeup so all good!
We need anonymity to make Democracy safe." Hmmm, we are definitely living in the twilight zone. Democracy is supposed to be open and PUBLIC for the people. Apparently, we have extremely intelligent computer dudes that never took a basic government 101 course in college. What a DISASTER.
absolutely true but we'll still be a small fish in this pond
Tax = theft = threat of violence = evil
And you will be poor with that kind of socialist mentality in any situation. Free Market Capitalism is the greatest thing ever that has lifted billions of people from poverty. You may be confusing it with Crony Capitalism, a whole different animal and a huge cause of the issues I'm describing in this post. Wake up my friend, liberty is the way!
Nice to found a likeminder! Followed and Resteemed. Anyone that doesn't have faith in crypto,obviously has a lot of fiat or still very conditioned and/or hasn't been poor properly and worked years for paper.
Like everything Crypto is also not forever,but a great investing opportunity to finally get real currency's, silver and gold ;)
Great content!
agreed!! The only good thing right now is the timing. We know this thing Crypto before more than half of the world realizes its potential
The universe loves the poor after all :) No god will save us, just Crypto!
hahahhaha
just saw your username ill go check out your nomadity :)
i m clearing my doubts tho... isnt it so Bitcoin definitely makes it easier. You can hide your currency without governments or banking institutions from knowing and they cannot confiscate it. Cash is used under the table...that is true, but it is not a NEW currency that is not printed by a central bank. It is not regulated like fiat currency. You can't have your cake and eat it too. Bitcoin is not related to any government and it will inspire privatization. The Bitcoins are "traceable" on the "bitcoin system"....but they are private institutions and the government or banking institutions cannot gain access to it. it is not a viable idea and beg people to not purchase them. it's another bubble and a scam.
yeh btc can be traced , and if you look long enough and have the capability's, its 100% traceable.. thats why vpns are worth paying money for !
so decentralizing our currency will cause mass centralization?
it costs $1000 of electricty to create / mine 1 bitcoin, so it is not as green as you think.. but if you are mining with wind or solar power then yer it is as green as you can get..
If Bitcoin indeed is an alternative currency free of the extablished currency system, then people should not be thinking or talking about it's exchange rate against the US dollar or any establishment currency.
Anyway, there have been many alternatives to establishment lifestyle, economics, society, etc adbocated over the past decades or even centuries but what have they done to really make the world a better place for all?
In the 1960s, the hippies thought that they could create a cooperative, collectivist community - an alternative society based on love, peace and music and lead to a paradise on earth but is our world today any better than back in the 1960s?
Dr. Stallman himself laid the foundation for free and open source software governed by the GNU General Public License which he drafted and today, it's estimated that there are over 3,000 Linux distributions providing for huge number of choices but Microsoft Windows still has over 90% share of end-user PC operating systems - why?
I've been using Linux on my PCs for about five years now and I don't ever want to go back to Windows but at the same time realise that whilst a monority of us enjoy its benefits, not everyone will take to it, so I'll just have to be content with being a happey Linux camper.
Bitcoin may solve some people's problems with purchases, payments, as an investment, store of value, etc but it's not going to bring down the establishment financial system, eradicate powerty or bring world peace.
Also, considering that as the number of Bitcoins created increases towards the 21 million Bitcoins limit, mining them will require increasingly powerful computers which most peoplecannot afford, so it is no social leveler.
If we want a permanent change, it will require a drastic change in the establishment financial system, not an alternative currency.
Such revolutions have happened before and long before there was the Internet.
Those changes were the American War of Tndependence, the French Revolution and the Russian Revolution an dthey were won by the tip of the sword or the barrel of the gun.
That little?