Money corrupts; bitcoin corrupts absolutely
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Money corrupts; bitcoin corrupts absolutely
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Re: Money corrupts; bitcoin corrupts absolutely
#2"Relieving humans from having to worry about or deal with money would be an actual Copernican revolution. How that would work is beyond me, but that's precisely why it would be revolutionary."
This
Re: Money corrupts; bitcoin corrupts absolutely
#3We need to fix the loop holes. Money is also an amazing instrument that keeps us motivated. Without the lure of money and its power, we wouldn’t do anything. Startups? Why bother when there is no money involved.
I really think if there was one thing we got right - that’s money as a civilization. What we need to do is fix the loop holes. That includes taxes, corporation as persons, the whole 2011 movement of Occupy Wall Street.
Re: Money corrupts; bitcoin corrupts absolutely
#4Ok, this seems to be a well-thought out argument against Bitcoin. I'm happy to buy into it. Yes, maybe BTC corrupts people.
But then without proper digital money protocols, how are we supposed to build the next wave of web applications?
Ethereum can be used to do useful things. E.g. we're rating data sets by quality through staking [1]. NFTs seem to make sense for artists (see what Mike Shinoda from Linkin Park said) [2]. Those products are simply not possible without projects like Ethereum.
2: https://mobile.twitter.com/mikeshinoda/status/13580909764142...
Re: Money corrupts; bitcoin corrupts absolutely
#5I think the author needs to integrate into these arguments the Nixon Shock of 1971 and what’s happening with inflation in the US since 2008. There’s a reason the Dow just hit a record high and it’s not because the fundamentals of those firms are strong.
I’m not a Bitcoin holder but the correct finger pointing here is at monetary policy.
Re: Money corrupts; bitcoin corrupts absolutely
#6"Relieving humans from having to worry about or deal with money would be an actual Copernican revolution. How that would work is beyond me, but that's precisely why it would be revolutionary." This
It's called communism and everytime it's tried it ends in genocide and hundreds of millions murdered.
Re: Money corrupts; bitcoin corrupts absolutely
#7Problem with bitcoin is there's no way to redistribute wealth.
How about giving inactive bitcoins to new people? Is it possible? Can you really access the bitcoins that were created at the beginning without updating your bitcoins to latest standards. How do you even update your bitcoin?
Re: Money corrupts; bitcoin corrupts absolutely
#8I agree with OP that all the honking horns from automobiles can be a drag, but the manure left from the horses also had some downsides.
Re: Money corrupts; bitcoin corrupts absolutely
#9Problem with bitcoin is there's no way to redistribute wealth. How about giving inactive bitcoins to new people? Is it possible? Can you really access the bitcoins that were created at the beginning without updating your bitcoins to latest standards. How do you even update your bitcoin?
Yes theft becomes more difficult, but I'm sure governments will still figure out ways to steal.
Re: Money corrupts; bitcoin corrupts absolutely
#10Problem with bitcoin is there's no way to redistribute wealth. How about giving inactive bitcoins to new people? Is it possible? Can you really access the bitcoins that were created at the beginning without updating your bitcoins to latest standards. How do you even update your bitcoin?
Could you access your money in the bank if you refused to update their app? Or if you refused to use technology more modern than a carrier pigeon? Or what if you refused to update your drivers license?