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To be successful, cryptocurrencies don't need "normals" to adopt them, or Walmart to accept them, or for the exchange rate to double every six months. It's per
by panarky 12y ago
To be successful, cryptocurrencies don't need "normals" to adopt them, or Walmart to accept them, or for the exchange rate to double every six months.
It's perfectly OK if they remain a primarily black-market phenomenon, the currency of System D [1]. Use dollars at Walmart, euros at the train station, and Bitcoin for remittances, VPNs and burner phones.
As repressive regimes restrict personal freedom in the "legitimate" economy, and as the global 0.1% extract ever more wealth from working people, System D will become larger, more sophisticated and globally connected.
Cryptocurrencies enable human freedom and dignity through System D. They provide independence from those who would control you and from parasites who profit from your labor.
Spend your dollars on consumer trinkets and meaningless entertainment. Save your Bitcoin for what matters.
[1] http://www.forbes.com/sites/jonmatonis/2012/03/19/could-bitcoin-become-the-currency-of-system-d/ http://www.forbes.com/sites/jonmatonis/2012/03/19/could-bitc...
- chimeracoder 12y ago> the currency of System D For those who, like me, thought of the init system and were very confused confused: > System D is a slang phrase pirated from French-speaking Africa and the Caribbean. ... They say that inventive, self-starting, entrepreneurial merchants who are doing business on their own, without registering or being regulated by the bureaucracy and, for the most part, without paying taxes, are part of “l’economie de la débrouillardise.” Or, sweetened for street use, “Systeme D.” This essentially translates as the ingenuity economy, the economy of improvisation and self-reliance, the do-it-yourself, or DIY, economy. Is this a common term in the Bitcoin world? [0] https://en.wikipedia.org/wiki/Systemd https://en.wikipedia.org/wiki/Systemd
- NateDad 12y agoI've read a ton about bitcoin and own some and have mined some... and this is the first I've heard of it. Keep in mind, there are a few different types of people interested in bitcoin: 1.) Get Rich Quick types 2.) Techies 3.) Crazy Extremist Libertarians I'll let you be the judge who is who.
- LyndsySimon 12y agoI think it's a fairly common word amongst sociologists and economists. I've heard it in both contexts.