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The Death of Decentralized Email
(blog.lopp.net)
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this post was submitted on 13 Jul 2024
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I mean, it's been shown that it's relatively easy for a big company to control the price of Bitcoin, and there's nothing more capitalist than wanting to get away from the control of countries and states that might get in the way of making as much profit as possible so,,,, yeah no I'd say hypercapitalist is a valid accusation. Bitcoin was designed to beat the big banks and capitalist status-quo, but I don't think that we can pretend it succeeded anymore.
Its like China calling itself communist, like sure maybe its 0.1% more than ultra capitalist US, but both they're both shit
No tech is perfect. And the current bitcoin is not the same as the original client. It has been modified to allow for abuse and control. The fact that we allow this to take place is more a reflection of our governments aiming to control it than any inherent property of the currency.
Big banks would have far less control if you couldn’t print sanctioned currency to buy as much bitcoin as they want to play with the value set by sanctioned exchanges.
I agree that bitcoin is capitalist like most monetary bills in a free market. I disagree it’s more capitalist than what we have now. It’s just being propagandized and veiled from the underlying technology to make it seem so.