'The arguments simply lack intellectual rigor and is typically marshaled against bitcoin by people who have not done ample research,' Sterlin Lujan's review explains.
of people in Venezuela. It makes sense people in the crypto industry would conduct such charitable initiatives, because fiat in countries like South Sudan and Venezuela are useful as toilet paper due to runaway hyperinflation.” initiative is what I call “productive value,” and it’s these “selfish capitalist crypto bros” engaging in it.The most asinine argument the podcasters on Jacobin made is that private money is dangerous and money should be tied to a state or political governance.
Their “argument” is a falsehood and error; a comedy of errors. It’s not only tragic because the podcasters are wrong, but because they’re ignoring potential economic salvation. They are also misleading others about the liberatory capabilities of crypto. Steemit provides crypto rewards for publishing content. I was an early adopter, and I posted my thoughts with zeal. I earned Steem tokens galore. I traded what I earned for bitcoin when it was $1200 per coin. This move lessened my debt and pulled me out of workaday 9-5 drudgery. The innovative and novel feature about using Steemit is that I was “working for the community.” I didn’t have a boss or some “evil capitalist” looming over me with a whip.
There is a lot to unpack, but the podcasters are accurate in the primary point: crypto is here to stay. Pandora’s Box has been emptied; or as Max Borders said, the djinn has escaped the lamp. So here is the burning question: why would leftists — or anyone else for that matter — want to “liberate” the world from crypto? That would be worse than “rolling back” the internet. Not only is it impossible, but it’s also a puerile notion festering with Luddism.
in 2019, criminal activity only represented a modicum of crypto transactions. A Forbes article summarised the study: The technology lifecycle adoption explains why some people, especially the few, acquired crypto earlier and became wealthier. It’s natural inequality as a result of investor or entrepreneurial skills. In this sense, it’s not “wrong” or “immoral” for a few to have more than the rest. It’s a function of how the market erupted, congealed, and eventually settled.
Decentralization means the networks involved in various blockchains are distributed to the extent they can withstand an attack and they don’t have a single point of failure. It means they are not honey pots susceptible to attack by bad actors. A byproduct of decentralization is censorship resistance.
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