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To all the cryptocurrency devotees dreaming of a new world cryptocurrency displacing existing government-backed central banks - be careful what you wish for, it
by m-i-l 7y ago
To all the cryptocurrency devotees dreaming of a new world cryptocurrency displacing existing government-backed central banks - be careful what you wish for, it just might come true. This might be the next phase of surveillance capitalism, like Orwell except driven by a private corporation for profit rather than accountable governments for "the greater good".
- qwsxyh 7y agoYou say that as if that's not what they want.
- m-i-l 7y agoWell given the pseudoanonymous nature of the original cryptocurrency, and its popularity for illegal activities, I would assume not. But maybe it is more about rampant capitalism and maximise-personal-profit-at-whatever-cost nowadays.
- monsterbash506 7y agoIt is worth mentioning that national currencies are monopolistic. Corporations can act in bad ways but you have a choice about which corporations to take your business to. Frederik Hayek wanted to "denationalize" money and have several competing currencies. The idea was that the honest money would win out in the end. If FacebookCoin is Orwellian then why not use something else?