9 ms·
>From my point of view serfdom is the (block)chain. Only people with enough stake or those who pays are in control. I disagree with this but even if one assume
by Qasaur 5y ago
>From my point of view serfdom is the (block)chain. Only people with enough stake or those who pays are in control.
I disagree with this but even if one assumes this to be the case, I'd much rather prefer a monetary system subject to the control of free market forces rather than the modern monetary system which is subject to a small group of unelected and unaccountable technocrats operating under the feeble assumption of central bank independence and whose power is extended through coercion and not voluntary association.
- goesnowhere 5y agoLook up wildcat banking. Being "subject to the control of free market forces" is not a good thing for working class folks who only hold onto currency.
- CryptoPunk 5y agoWildcat banking is a trope https://www.alt-m.org/2021/07/06/the-fable-of-the-cats/ https://www.alt-m.org/2021/07/06/the-fable-of-the-cats/
- kemotep 5y agoIf crypto replaces fiat can you really say it is voluntary still if you need to pay your taxes in bitcoin or whatever currency your government wants to collect to pay for things?