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0 sats \ 6 replies \ @klk OP 3 Jun \ parent \ on: Are you comfortable with Bitcoin's security model? AskSN
why?
Because that's exactly what Bitcoin is.
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Bitcoin has been subverted into a positive feedback loop for concentrating wealth in the hands of a few. The richer you are the faster you can get more rich. Wealth = power = coercion = crime = a failed state. Pay to play organized crime. That may be the status quo but no one would vote for that.
Sorry, for those of you confused about this, it can be hard to see a problem when your job depends on not seeing the problem.
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The world isn't a 0 sum game. And 1 sat from a person with 100 ₿ appreciates exactly as fast ast 1 sat from a person just owning 1 sat.
And gives us everyone a way to escape a broken system. Tools don't need to be perfect, just better than everything else available at the time.
Bitcoin is being used to move purchasing power between very poor countries where the option before was paying 50% between taxes and Western Union fees (or whatever company).
Of course already wealthy people can potentially buy more pieces of any tool. But I would argue that in this case, Bitcoin is way more important and benefitial for the poorest. Rich people can choose where they live and have a lot of options to preserve their wealth. Poor people don't.
You could say a tool that purifies water is unfair and evil because rich people can buy lots of those devices. But in reality, having access to clean water is not really a big problem for them to begin with, whereas for poor people it can be a life changer.
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Bitcoin is certainly a super interesting tool for the poor, the problem is, as you say, access. Although it is now very easy to buy Bitcoin, for many it is a "super complicated thing."
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I don't understand the friend's point either.
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