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Whenever I come across the “hate the rich” sentiment (usually expressed in veiled forms, but sometimes not so much), I can’t help but read “I hate the rich and

Whenever I come across the “hate the rich” sentiment (usually expressed in veiled forms, but sometimes not so much), I can’t help but read “I hate the rich and so-called successful people, because if I accept that system that would make me a loser”. It’s hard to imagine how things would go differently if people who currently possess a lot of capital (social, monetary—quote-unquote “control the world”) get replaced by people who have accumulated a lot of capital in cryptocurrency. Both enrich their networks (“buying prestige” among their connections), profit off leasing property, would stoop to price gouging, got rich by arbitrary criteria, try to maintain/expand their area of control and paint those who stand in the way as scammers, etc. The fundamental socioeconomic patterns remain the same. The mere virtue of being affiliated with either type of capital doesn’t say as much about a person as destructive hate towards.

lmpostor 6y ago
Great analysis It's like he forgot that one of the major "features" of cryptocurrency is a quality that proliferates the sphere with scammers. I say this as someone with a very optimistic outlook, edge case usage is both the pinnacle and the opposite of virtue, we would do well to not forget the dark side. We need to keep it at "hopefully will solve problems" and leave it at that.
cryptica 6y ago
>> because if I accept that system that would make me a loser Exactly. Why would I participate in the mainstream system as a loser when I can be a winner in an alternative system? Especially when that alternative system has more skilled, more hard-working people than the mainstream system. The mainstream system rejects an alarming number of highly skilled people for arbitrary reasons. There are many cracks to fall through. These people need to join an alternative system which will value their skills and monetize them.
- goblin89 6y ago
  So you want to address those fundamental behavorial pitfalls by coming up with a new system that places you in the small group of rich and in-control? If some individuals are incapable of seeing the world around them as anything other than losers vs. winners and want to have a way of measuring worth that makes them rank higher, I couldn’t care less—as long as they don’t try impose it on others. From empirical observation, holding cryptocurrency does not suddenly make people more altruistic, knowledgeable, ethical or anything else positive. It triggers the usual patterns of behavior associated with power and wealth (first of which being “do everything you can to maintain those”). Of course, most of those currently in possession of significant capital will not have much trouble converting it to any new form that comes along. People who would get hurt are the middle class—folks who do not rule the world, but have things to lose. So, most people.

lmpostor 6y ago

Great analysis It's like he forgot that one of the major "features" of cryptocurrency is a quality that proliferates the sphere with scammers. I say this as someone with a very optimistic outlook, edge case usage is both the pinnacle and the opposite of virtue, we would do well to not forget the dark side. We need to keep it at "hopefully will solve problems" and leave it at that.

cryptica 6y ago

>> because if I accept that system that would make me a loser Exactly. Why would I participate in the mainstream system as a loser when I can be a winner in an alternative system? Especially when that alternative system has more skilled, more hard-working people than the mainstream system. The mainstream system rejects an alarming number of highly skilled people for arbitrary reasons. There are many cracks to fall through. These people need to join an alternative system which will value their skills and monetize them.

goblin89 6y ago
So you want to address those fundamental behavorial pitfalls by coming up with a new system that places you in the small group of rich and in-control? If some individuals are incapable of seeing the world around them as anything other than losers vs. winners and want to have a way of measuring worth that makes them rank higher, I couldn’t care less—as long as they don’t try impose it on others. From empirical observation, holding cryptocurrency does not suddenly make people more altruistic, knowledgeable, ethical or anything else positive. It triggers the usual patterns of behavior associated with power and wealth (first of which being “do everything you can to maintain those”). Of course, most of those currently in possession of significant capital will not have much trouble converting it to any new form that comes along. People who would get hurt are the middle class—folks who do not rule the world, but have things to lose. So, most people.