Bingo. Capitalism has thus far rejected the blockchain, which is generally evidence that it doesn’t solve an important problem either efficiently, safely or cheaply.
Yes, in a previous post I have often critiqued those that conflate capitalism with political policy (free capitalism versus state capitalism). I should not have been so broad.
Inflation incentives endless growth for businesses. The US dollar is a global currency with security guarantees which makes it a valuable currency for trade. But while inflationary based currency was great for a short term rush in gross domestic product, it has created an economic system that is not sustainable.
We have a debt to gdp ratio greater than 100% and have for years. If the debt to gdp ratio is greater than 100%, that means our loans aren’t improving the economy well enough to pay off the loans.
The incentives of an economic system backed by Bitcoin are the economic sacrifices we will have to make in a post climate climate change world, such as changes in consumer spending to incentivize saving, which unfortunately also means a decrease in luxury goods, but sucks to say those are the economic incentives we need in a post climate change world.
Not “Spend all your money quick on useless shit before inflation makes it worthless anyways”
To be fair, there are plenty of other reasons capitalism might have rejected blockchain: market failure, interference by government, etc.
I’m not saying that to defend cryptocurrency, by the way, but rather to point out that capitalism isn’t perfect at allocating resources in every situation.
capitalism is generally terrible at allocating ressources. It will always win to externalize costs, and if the people footing the bill cannot participate in the market, like for instance future generations, the result is always a self destructive system.
Bitcoin had its official ETF approved and started the other week and Ethereum is soon to follow. so I would say capitalism is very much not rejecting blockchain technology. Didn’t blackrock and other giants put a ton in?
Bitcoin had its official ETF approved and started the other week and Ethereum is soon to follow. so I would say capitalism is very much not rejecting blockchain technology. Didn’t blackrock and other giants put a ton in?
Right?
Also, look at its price. It dipped, and came right back.
If anything, the financial consensus around this is exactly the opposite of what was being presented.
Bingo. Capitalism has thus far rejected the blockchain, which is generally evidence that it doesn’t solve an important problem either efficiently, safely or cheaply.
Capitalism rejects solutions to climate change as well
Only with a poor regulation. The CO2 price in the EU works pretty well (even though its slow due to other nations not participating)
Yes, in a previous post I have often critiqued those that conflate capitalism with political policy (free capitalism versus state capitalism). I should not have been so broad.
Inflation incentives endless growth for businesses. The US dollar is a global currency with security guarantees which makes it a valuable currency for trade. But while inflationary based currency was great for a short term rush in gross domestic product, it has created an economic system that is not sustainable.
We have a debt to gdp ratio greater than 100% and have for years. If the debt to gdp ratio is greater than 100%, that means our loans aren’t improving the economy well enough to pay off the loans.
The incentives of an economic system backed by Bitcoin are the economic sacrifices we will have to make in a post climate climate change world, such as changes in consumer spending to incentivize saving, which unfortunately also means a decrease in luxury goods, but sucks to say those are the economic incentives we need in a post climate change world.
Not “Spend all your money quick on useless shit before inflation makes it worthless anyways”
To be fair, there are plenty of other reasons capitalism might have rejected blockchain: market failure, interference by government, etc.
I’m not saying that to defend cryptocurrency, by the way, but rather to point out that capitalism isn’t perfect at allocating resources in every situation.
capitalism is generally terrible at allocating ressources. It will always win to externalize costs, and if the people footing the bill cannot participate in the market, like for instance future generations, the result is always a self destructive system.
Isn’t one of its goals to be free from government influence? That’s not a valid excuse.
Blockchain is just a technology. It doesn’t have “goals.”
If a government explicitly blocks it and tries to find and punish trading off or in cryptocurrencies that will cause interference.
that is talking about blockchain as a technology for cryptocurrencies.
Bitcoin had its official ETF approved and started the other week and Ethereum is soon to follow. so I would say capitalism is very much not rejecting blockchain technology. Didn’t blackrock and other giants put a ton in?
They put money in Bitcoin, but not the tech behind it. To them it’s just stocks to be manipulated in order to get a profit.
Right?
Also, look at its price. It dipped, and came right back.
If anything, the financial consensus around this is exactly the opposite of what was being presented.