3 ms·

It is however extremely more inclusive. Everyone in the world right now has very good chance to join. Unlike traditional capitalism where it can do lots of thin

It is however extremely more inclusive. Everyone in the world right now has very good chance to join. Unlike traditional capitalism where it can do lots of things to keep others from joining, keep many dependent on their salaries just to survive. It won't be perfect. But it is definitely tons better than the current capitalism. Another very important feature here is the ability to easily fork. So if we need to fix something, it can easily be done (no need to wait for an organized citizen revolution)(although this is probably better attributed to the idea of Free Software).

dragontamer 8y ago
No better than the stock market in this regards. Except the stock market explicitly hands out profits from the biggest and riches companies, and our tax system is designed to give more of those profits to poor people. A low-income person getting into Ethereum today has no hope to ever get as much ethereum as anyone else in the early adopters. Hell, a low-income person was too busy trying to buy food today and/or pay off credit card debt to even think about investing into Ethereum, the Stock Market, Bonds, or other securities.
- profalseidol 8y ago
  Pretty sure getting into Ethereum is easier and fairer than getting into Stock Market. If you wanted to be an early investor of facebook and you are a pleb, then you're out of luck. And you should have a big capital to join. If you wanted to be an early adopter of Ethereum, then you only need an internet connection and a computer. You invest put practically any amount, so any pleb can join. There's also a law that requires you to be big capitalist before you can do early big investments right? Pretty sure this is better than stock market.
  - dragontamer 8y ago
    > Pretty sure getting into Ethereum is easier and fairer than getting into Stock Market. Robinhood offers free trades on anything in the Stock Market. Literally free, you can't beat that. > There's also a law that requires you to be big capitalist before you can do early big investments right? That's not the stock market. That's venture capitalism. The stock market is literally open to everybody with an internet connection from a variety of well trusted sources (RobinHood, E-trade, TD Ameritrade, Vanguard, etc. etc.) and a variety of pricing schemes. ($0 for Robinhood, although it seems like their execution is not as good. You get what you pay for afterall) Furthermore: the stock market is regulated. The National Best Bid and Offer (NBBO) system in the USA ensures that everyone in the USA pays relatively consistent prices, or at least more-consistent than BTC / ETH. Unlike ETH or BTC, no one is going to steal your money Mt. Gox style as the SEC is a strict watchdog. You get no assurances with Eth or BTC. Coinbase has different prices than Bitfinex. And some of these exchanges look like they're running scams (ie: Bitfinex's support of Tethercoin). I think more "plebs" have been burned by Mt. Gox and other such failures in the cryptocoin marketplace. Its a hugely unregulated, and highly risky market. Cryptocoins are just not mature enough for mainstream speculation yet.
    - profalseidol 8y ago
      Ok, I stand corrected. It was Venture capitalism I had in mind. I wanna note though, regarding crypto exchanges. One does not need to use them to invest. Use your own wallet. Use decentralized exchange if you don't wanna risk using centralized exchange.

dragontamer 8y ago

No better than the stock market in this regards. Except the stock market explicitly hands out profits from the biggest and riches companies, and our tax system is designed to give more of those profits to poor people. A low-income person getting into Ethereum today has no hope to ever get as much ethereum as anyone else in the early adopters. Hell, a low-income person was too busy trying to buy food today and/or pay off credit card debt to even think about investing into Ethereum, the Stock Market, Bonds, or other securities.

profalseidol 8y ago
Pretty sure getting into Ethereum is easier and fairer than getting into Stock Market. If you wanted to be an early investor of facebook and you are a pleb, then you're out of luck. And you should have a big capital to join. If you wanted to be an early adopter of Ethereum, then you only need an internet connection and a computer. You invest put practically any amount, so any pleb can join. There's also a law that requires you to be big capitalist before you can do early big investments right? Pretty sure this is better than stock market.
- dragontamer 8y ago
  > Pretty sure getting into Ethereum is easier and fairer than getting into Stock Market. Robinhood offers free trades on anything in the Stock Market. Literally free, you can't beat that. > There's also a law that requires you to be big capitalist before you can do early big investments right? That's not the stock market. That's venture capitalism. The stock market is literally open to everybody with an internet connection from a variety of well trusted sources (RobinHood, E-trade, TD Ameritrade, Vanguard, etc. etc.) and a variety of pricing schemes. ($0 for Robinhood, although it seems like their execution is not as good. You get what you pay for afterall) Furthermore: the stock market is regulated. The National Best Bid and Offer (NBBO) system in the USA ensures that everyone in the USA pays relatively consistent prices, or at least more-consistent than BTC / ETH. Unlike ETH or BTC, no one is going to steal your money Mt. Gox style as the SEC is a strict watchdog. You get no assurances with Eth or BTC. Coinbase has different prices than Bitfinex. And some of these exchanges look like they're running scams (ie: Bitfinex's support of Tethercoin). I think more "plebs" have been burned by Mt. Gox and other such failures in the cryptocoin marketplace. Its a hugely unregulated, and highly risky market. Cryptocoins are just not mature enough for mainstream speculation yet.
  - profalseidol 8y ago
    Ok, I stand corrected. It was Venture capitalism I had in mind. I wanna note though, regarding crypto exchanges. One does not need to use them to invest. Use your own wallet. Use decentralized exchange if you don't wanna risk using centralized exchange.