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Democracy can be defined as a popularity contest; democracy does not = good. When I and others say "democratized money", it's not to say it is identical to the
by andirk 4y ago
Democracy can be defined as a popularity contest; democracy does not = good. When I and others say "democratized money", it's not to say it is identical to the definition of democracy as it pertains to a populous voting 1 person 1 vote. More like "money that is not controlled by a single source but rather as large a group as cares to participate who also have access to and knowledge of the tech".
- ballofrubber 4y agoAdditionaly it's also different as in "the majority does not change my rules", they can be wrong in the long run and my rules become majority again.
- throwawaylinux 4y agoWhen people say democratized anything, it comes across as meaningless marketing speak. I don't mean the traditional non-political use of the word (i.e., simply making something easily accessible to a lot of people). It's basically trying to claim some good, without having to quantify or justify that in any way. The US dollar is ultimately controlled by democratic institutions even if you don't count individuals using it as having any control. Therefore it is democratized money by the same vague handwaving.