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RE: Our Corrupt Sense of Fairness

in #philosophy8 years ago

The idea of wealth distribution is way overblown and becoming more and more so in a digital world, as users can seemlessly transfer wealth among different digital assets without censorship. The usual argument against the US dollar is that the US left the gold standard in 1971. So what? What is to stop a person from creating their own gold standard by converting dollars into gold every time they get a paycheck, effectively eliminating their exposure to US dollars... and they could have done that for the past 45 years.

The unfairness comes in when gold is outlawed and confiscated as was done in 1933 by the US government. With blockchain-based solutions coming online, it may eventually be possible to seamlessly hold gold and pay with dollars without censorship... and that goes for any other digital asset, or synthetic digital asset.