pull down to refresh

This sort of utopian nonsense is all very well but I disagree on your optimism. While such optimism and utopian musings will be popular here on SNs they do not imo stand scrutiny in the context of what is happening in the world. Yes technology will deliver increased material wealth but you miss the point on Bitcoin as a MoE- Bitcoin as a MoE is a means of enabling commerce between people free of intermediaries - intermediaries who can (and do) censor transactions. Technology tends to concentrate wealth in the hands of fewer individuals- the whole point of socialism and communism was to attempt to address the concentration of wealth and power that developed during the industrial revolution - in the post industrial digital technology age which we are in now a similar concentration of wealth and power is occurring this time with major tech corporations holding more and more data and thus power and wealth. Bitcoin as a decentralised algorithm proposes a way of avoiding the centralisation of power in terms of the MoE - but only if it is used as a MoE- as a SoV, as it is increasingly framed, seen and used, Bitcoin provides very limited pushback against the centralisation of power and wealth that the post industrial age tends toward. There is a war already between the West and China- with a contest for control of the MoE which is used for international trade. China already provisions trade MoE for Iran, N.Korea and Russia and via mBridge that MoE protocol control by China would expand considerably to include BRICS nations an probably more. Bitcoin simply does not appear likely to compete with any significant force in the contest between the USD and Chinese trade payments protocols. Control over MoE protocols (banking) is the twin of military power projection. China prohibits Bitcoin MoE outright, while The West effectively obstructs it from being used on any scale by imposing tax obligations which make Bitcoin impractical to use as a lawful and convenient MoE. Bitcoin does probably provide a SoV safe haven and hedge in the context of the contest for trade payments MoE hegemony which is the ultimate contest between China and The West, but it is unlikely to be a practical MoE alternative in that contest simply because it is not a convenient and practical option for businesses or consumers.
I will say...there is some nuance to my optimism.
reply
Yes but your linked religious musings do not directly address the problem of overt and covert bans and obstruction of Bitcoin MoE use by nation states... this is the problem I raise but which your linked post and above post do not address.
reply