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And how can the low-income populace effectively utilize Bitcoin when they have limited access to technology? Look, I agree there are... issues with current cur
by corodra 7y ago
And how can the low-income populace effectively utilize Bitcoin when they have limited access to technology?
Look, I agree there are... issues with current currencies. Most of which are problems that are nothing new. At all. They've plagued the concept of currency since the first coin was ever minted in antiquity. But ANOTHER currency, based on random equations that are "difficult" for a computer to process to act like it has "value", especially due to difficultly and scarcity, is no better. At all. Especially with the fact that Bitcoin is another Austria when it comes to the amount of CO2 it produces in the excess frivolous need of energy due to it.
But the argument that it's going to help the poor or the bottom 2 billion people of the planet, with "no access to government currency" is the dumbest fucking idea on the planet other than flat earth or anti-vax. When someone doesn't have access to clean water or regular amounts of food daily, let alone internet access, wtf makes you think bitcoin when change anything? Other than charity, which is already done with them evil fiat currencies. Especially since the distribution of bitcoin is just as bad as the current currency systems. "Wealth" if you can call it that in bitcoin, is held with the major server farms instead of the banks/gov. It's just renaming the wealth holder. That's all it is. Your wealth redistribution is just redistributing it so someone else can have ultimate control. It's not "for the masses". It's just a different group of "elites".
And we're not on the gold system anymore for fuck's sake! Stop using that as an argument! Current currency value is more dependent on import/export ratios than any other one thing. To clarify, major currencies are now on hybrid systems based on many, many factors that a stupid 10 minute youtube cartoon cannot cover. It's been that way since shortly after WW2 due to all the economic troubles that caused. The system has been refined constantly ever since. Go to a library and pick up an actual book. Want to know how said book is accurate? Because once you have a base knowledge of how the system ACTUALLY works, you can track and predict the currency markets (trade in general) with about an 80% accuracy on a 10 day spread with general geopolitics daily tracking. Something I do (though, for a handful of countries). And I'm an idiot. Those are crayon playing, helmet wearing numbers compared to actual pros in global markets.
Stop watching youtube for financial advice. Read a book or two.
If we had to base a currency on anything. Nitrogen injected containers full of beans. That, right there. I'd vote for that. Fuck gold. Fuck digital equations. Beans. Your currency is based on how many 55 gallon nitrogen injected drums of beans you have. Better use it in 50 years though. But it at least has intrinsic value and "infinite" growth potential to adapt to growing population bases... That's still a silly idea by the way.
- meerita 7y agoHey, don't insult me please. I never mentioned bitcoin in the first place. Second, it is a fallacy that only books give good advice. Books are just a medium, not a natural fountain of truth. Please, just watch universities debates regarding currencies, private banking, or read books if you are so biased against other formats. Regarding your initial point, well, low income people is getting on internet like never we've seen before. And, no. Money is not based on your imports/exports only.