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> creating money outside state control Which if successful enough to constitute a counterweight with enough force to push back against "the state" will yield m
by tCfD 9y ago
> creating money outside state control
Which if successful enough to constitute a counterweight with enough force to push back against "the state" will yield merely... another state, but conveniently one with "Our Guys" in control of all the economic leverage.
You call yourself non utopian, yet Bitcoin - a tool to deleverage the state by sapping its power of taxation - is a nakedly self serving utopian project. And yet tax rent (in the form of landowner's premiums like mining rewards and tx fees, and soon by lightning network channel brokering fees, not to mention off chain but indispensable infrastructural scaffolding like exchange fees and fiat ramps) doesn't just disappear, it merely flows to the pockets of a different cabal composed of early adopters and wealthy latecomers who were able to buy large tracts of influence and infrastructure in bitcoinland.
- clarkmoody 9y agoYet nothing those in power do will ever change the monetary base or inflation rate of Bitcoin.
- tCfD 9y agoThese are fig leaf constraints which do nothing to curb the ability for highly leveraged, anonymous individuals in the ecosystem to severely and without warning or accountability alter the purchasing power of the Bitcoins in circulation.