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You're right that the cost moves to the consumer and that it hurts those most in need. Maybe UBI, maybe tax on consumers can be nonlinear and be higher when the
by comboy 6y ago
You're right that the cost moves to the consumer and that it hurts those most in need. Maybe UBI, maybe tax on consumers can be nonlinear and be higher when the usage is higher ("fake accounts" are not that simple in the real world). I don't know. I'd like to think that punishing those who produce energy from non-renewable resources should be enough to make those renewable ones become more popular and cost efficient, but it's true that in the real world there are some difficult problems to solve.
The last point would be beautiful if it only was true. I would be somewhat ok with banks and funds stealing poor people money through FED if it was the case. But it is not. We are not cold and hungry, but many people are. Even if you are not thinking globally, just US only, just look at COVID-19 and the overall state of healthcare.
But the last point brings one valid criticism of Bitcoin that I don't see mentioned practically ever. Money is a positive feedback loop. Bringing real money to the world, one that cannot be easily taken by force, can be scary (don't xkcd wrench me, I mean scenario that's much further, there were many entities throughout human history that acquired a lot of wealth giving them a lot of power, at some point other people become fed up enough that they just took it by force. But in this case, it would not be in any physical place, not necessarily associated with specific individuals). Fiat currencies system is rigged, but the problem is that money itself is somewhat rigged. When you don't have enough of it, you just sell your time and sell it cheap and you don't have enough of it left to find how you could sell it better. With enough money, it just works like a magnet. Better lawyers, research done for you, being able to take high risk bets etc.
I'd love to have a state of world that you described in your last paragraph. I wouldn't care much about Bitcoin in such scenario.