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This is my argument against cryptocurrency - it's capitalism taken to the extreme and we're already struggling to mitigate the downsides of capitalism. Don't g
by insaider 5y ago
This is my argument against cryptocurrency - it's capitalism taken to the extreme and we're already struggling to mitigate the downsides of capitalism.
Don't get me wrong, capitalism is a great thing and has brought us to where we are today but it has downsides. In the 21st century a government's primary purpose is simply to mitigate those downsides. However, governments are increasingly losing this power struggle. Democracy is being manipulated by capitalist-driven propaganda machines. And now, with the rise of cryptocurrencies, we're mitigating governments of their ability to control money too.
If you read that last sentence and thought that that's a good thing then maybe you've fallen prey to those propaganda machines. Government's provide citizens with everything from healthcare, roads and infrastructure, education, welfare and much more. Inflation is high at the moment because government's bailed out their most vulnerable citizens with massive welfare payments. Stripping government's of such abilities is societal suicide.
It's no coincidence that the country that is most money-hungry and capitalistic is also the worst at providing these things (relatively).
For when the measure of a man is the depth of his pockets, then the world shall be ran by clowns.
- _3u10 5y agoThat’s also why everyone loves crypto. The idea of sovereignty. Vote for whatever you want every 4 years, the market votes with every purchase. Vote for stimulus, that stimulus just drives crypto higher. Everyone knows that one day all of it is going to be paid for by the people holding USD