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325 sats \ 1 reply \ @Undisciplined 14 Nov 2023 \ on: Does Bitcoin solve the problem of greed/avarice ? bitcoin
While I agree with most of the comments, I think there's another way to interpret the question that might be more interesting. Sure greed and avarice aren't going to disappear on a Bitcoin standard, but that isn't quite the same as saying the problems caused by them won't be fixed by Bitcoin.
The beautiful thing about markets is that they incentivize producing things that are valued by others. Even the greediest son of bitch has to provide value to other people in a market economy.
So, my reframing of this question is "Does Bitcoin incentivize the greedy and avaricious to provide value to others?"
On the surface the answer seems to be no. Bitcoin is a money, not an incentive structure (although it affects incentives). However, when we consider that Bitcoin undermines the fiat system and that the fiat system creates many of the perverse incentives that need to be fixed, I think we can say that Bitcoin at least will improve the problem of greed/avarice.
I agree with your reframing of the question.
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