1249
It's true.
(lemmy.world)
We're trying to reduce the numbers of hours a person has to work.
We talk about the end of paid work being mandatory for survival.
Partnerships:
/join #antiwork
)
This is like saying tulip mania was mildly deflationary. At a certain point without changing the rules of the blockchain there will never be another Bitcoin made. That is somehow supposed to represent an ever growing economy forever?… And not be hyper-deflationary? Remember… they were still making more tulips.
As long as Bitcoin remains this deflationary it will be a terrible store of value and a terrible facilitator of trade. In other words a terrible currency. And the people in charge of bitcoin — that is the people who own stakes in the network — will never want to end that because they make too much money with it being deflationary. It would be funny if some people didn’t loose a ton of money in the process.
If its not divorced from politics then what’s to stop the same or similar political situation that happened in 2008 from happening again?
Remember the thing I disagreed with was…
If the rules can be changed by someone then what’s to stop whoever that someone is from turning on the money printers on for the wealthy under the right political circumstances?
I understand how it works. I used to mine Ethereum and I’ve run both a Bitcoin and Ethereum nodes. I’ve been following Bitcoin since I saw it on slashdot in 2009.
Of course they “agreed” to give themselves a bailout. That’s no more valid of an argument than saying the US agreed to the bailouts in 2008. Other’s disagreed that’s why we still have the fork.
Randomly forking is terrible for a currency. I don’t want to wake up tomorrow and find out that my money is worth half as much because some rich assholes didn’t like some transactions. And because they own enough nodes/ASICs/GPUs/stake and are friends with the programmers on the project they can just fork me over.
Most representative democracies have direct ballot initiatives and they’re based on 1 person 1 vote. We should work to have more of that because a broad base of people generally have interests different than those with access to wealth.
In the case of crypto none that I know of base their “democracy” on a system of 1 person 1 vote but instead on how much ownership you have on the network in terms of nodes/Mines(GPU, ASICs, etc.)/stake. This is not democracy, this is a system of political power based on ownership. In other words the same system of influence at the root of the 2008 bailouts.
Yes, the people who own stakes in the blockchain are going to make very conservative decisions that protect their own wealth. The US congress chose to turn the money printer on in 2008 because that was the best way to protect their wealth and the wealth of their donors. Again… its same system of influence based on wealth and ownership that lead to the 2008 bailouts.