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That isn’t what Bitcoin is about. People can still manipulate the social mechanics involved. They just can’t manipulate the fundamental rules. That’s it. An
by survirtual 4y ago
That isn’t what Bitcoin is about. People can still manipulate the social mechanics involved.
They just can’t manipulate the fundamental rules. That’s it. Anyone can send any transaction anywhere. The monetary supply is fixed, no one gets to decide arbitrarily when money is created. And to make new money, there are specific conditions which simultaneously contributes value to the network.
It doesn’t fix inequality, it just fixes the rules and makes it so we can at least trust the fidelity of the system.
People take for granted the honesty of the existing systems. But when we bailout big failed banks and big business by printing more money and let the common person crash and burn, it is clearer how dishonest it is. Most people do not have a friend that can get the government to bail them out — but some people do.
That is just scratching the surface on the problem with intermediaries infecting a monetary supply. At least with bitcoin, we all play by the same rules. There is value in that kind of honesty.