Bitcoin is NOT democratic. Pt 1 | Aleksandar Svetskisvetski.medium.com/bitcoin-is-not-democratic-pt-1-6ce622c90e8f
131 sats \ 5 comments \ @cryptocoin 15 May 2022 bitcoin
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20 sats \ 0 replies \ @0391398253 15 May 2022
Money is not democratic.
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20 sats \ 0 replies \ @Majjin 15 May 2022
A lot of this is based on "Democracy - The God that Failed" by Hans Hermann Hoppe. Great book, though a bit repetitive. You can pretty much get the gist in the first chapter and the next chapters are more in depth essays on each of the points made in the first.
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20 sats \ 0 replies \ @JustDavids 15 May 2022
More like Bitcoin is NOT a governance (unless you hold it all) but I dig what you mean.
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2 sats \ 1 reply \ @cryptocoin OP 15 May 2022
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Democracy virtually assures that only bad actors will rise to the top.
Leaders are not chosen based on their intellect, competence or productive capacity, but because of their power to impress and enchant the intellectually underprivileged.
Much like mould, parasites thrive in a particular environment. In a social and political sense, their ideal is a bureaucracy.
They exist by syphoning resources, wealth, nutrients, time and energy from the system without adding anything back in. They have no input. They are a leaky valve that only creates an energetic output.
The only vote that matters is where you spend your money!
When you buy organic beef over fake ‘beyond meat’, you’re voting for real meat. When you buy an iPhone over a Samsung, you’re voting for the iPhone. Preferences (votes) are perfectly represented by where you choose to spend the product of your labour.
A Bitcoin Standard will look nothing like the democratic clown world of 2022.
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1 sat \ 0 replies \ @cryptocoin OP 15 May 2022
Another post, here on SN, shared this article when it was published in Bitcoin Magazine:
Bitcoin Is Not Democratic Part One: Problems With Democracy #7716 https://bitcoinmagazine.com/culture/how-bitcoin-abolishes-democracy
This was part one of five. The others are:
How Democracy Failed Us: Bitcoin Is Not Democratic Part Two https://bitcoinmagazine.com/culture/bitcoin-is-not-democratic-part-two
Bitcoin Is Not Democratic Part Three: The Separation Of Economy And Politics https://bitcoinmagazine.com/culture/bitcoin-is-not-democratic-part-three
The Future On A Bitcoin Standard — Bitcoin Is Not Democratic Part Four https://bitcoinmagazine.com/culture/bitcoin-is-not-democratic-part-four
The Age Of Meritocracy — Bitcoin Is Not Democratic Part Five https://bitcoinmagazine.com/culture/bitcoin-is-not-democratic-part-five
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