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Bitcoin is about moving large amounts of money around and evading taxes whenever possible.
by evrimoztamur 1y ago
Bitcoin is about moving large amounts of money around and evading taxes whenever possible.
- mallowdram 1y agoHe who controls the arbitrary, controls the universe.
- evrimoztamur 1y agoMoney's capacity to organise labour is still very much real.
- mallowdram 1y agoWhat organizes labor are the specifics. This is what math doesn't get, math isn't timeless, it's trapped in exact moments where it appears real. The arbitrary is simply a conduit metaphor, not only not real, but entirely illusory, prone to primate biases and exploitation. And all metaphors eventually fail, that's a bio-ecological certainty. Show me a currency from 700AD still traded on arbitrary markets. There are no limitless molecules or homeostatic climate. The system is already bust in numerous indexes, we're just riding the arbitrary fan out.
- selimthegrim 1y agoI’m sure there’s some niche Japanese example.
- mallowdram 1y agoAnecdotal vs the tsunami of arbitrariness doesn't cut it.
- wongarsu 1y agoAlso "banking the unbanked": giving financial infrastructure to anyone with internet access, even if local banking infrastructure doesn't exist or isn't accessible. Which is great when applied to rural areas of underdeveloped countries. But realistically it's more about financial infrastructure for criminals, outcasts, scammers and rich people in counties with strict financial controls
- spaceman_2020 1y agoYou say this while completely ignoring the thriving p2p market for stablecoins in countries like Nigeria
- tormeh 1y agoStablecoins are interesting, but they're closer to company scrip than to decentralised currency. Anyway, stablecoins are apparently becoming important financial infrastructure, so that's something. Bitcoin is completely useless as a currency since its value does not decline with time, thereby making it an investment vehicle instead of a currency. An asset can't be good at being both a medium of exchange and an investment. Only criminals use bitcoin as currency, and they do it because the alternative for them is moving cash around in suitcases.
- ThrownOffGame 1y agoExcept it isn’t money at all; only suckers call it ‘money’. It’s considered a security; a representation of value for sure. Move it around all you want until you’re blue in the face. But money still has to come out of an exchange and through some sort of bank. So it’s all a shell game that’s decidedly not anonymous or protected at all. That’s why so many have concluded that crypto is a scam; we might as well be smuggling Egyptian grave goods.