On Fri, Oct 26, 2012 at 1:40 PM, Nick <[email protected]> wrote: > Interesting read. That said, I would love to read more about the > interplay of traditional capitalist power structures and bitcoin.
Bitcoin is fundamentally flawed as an emancipatory currency due to it's reliance on processing cycles. When I first heard about it, I eagerly downloaded the client to begin mining. With my (relatively, at the time) powerful desktop, it was something like 2 years until I had my first coin. There are also a limited total number of bitcoins, which from my point of view can only lead to the exact same zero-sum situation we have with state-coerced currencies: if I am going to be rich, it is at the expense of others having the same opportunity. # distributed via <nettime>: no commercial use without permission # <nettime> is a moderated mailing list for net criticism, # collaborative text filtering and cultural politics of the nets # more info: http://mx.kein.org/mailman/listinfo/nettime-l # archive: http://www.nettime.org contact: [email protected]
