On 05 May 2014, at 03:57, meekerdb wrote:
It creates a parallel medium of exchange in which those who make
bitcoins first hope to profit from their appreciation.
Bitcoin was at first a way to go around the sickness (the non free-
ness) of current capitalism, notably to reflect the demand of drugs
and weapon. But they abandoned the weapon market, and apparently it
might be perverted in the same ways. Bitcoin is not enough, as long as
we tolerate the lies ...
Bruno
Brent
On 5/4/2014 6:12 PM, LizR wrote:
I don't know much about bitcoin, except you can "mine" bitcoins at
some expense - to your power bill, your time and the environment.
What's the point? (And how does it manipulate the medium of
exchange?)
On 5 May 2014 12:34, meekerdb <[email protected]> wrote:
On 5/4/2014 12:38 PM, Telmo Menezes wrote:
Yes, and this already happened. I would add that capitalism is not
catching up with anything because it doesn't even exist at the
moment. The money supply itself is not under the control of the
market, so the system is non-capitalist at its core. Bitcoin is an
attempt at real capitalism, it remains to be seen if it can survive.
I think that confuses financialism with capitalism. If you can
invest in labor and equipment and produce something that returns a
profit, you're a capitalist. Bitcoin looks to me like just another
attempt to manipulate the medium of exchange and profit from it - a
role traditionally taken by Wall Street and the Federal Reserve in
the U.S.
Brent
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