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I'm a left leaning bitcoin maxi.

Lately I've been coming around to the idea of capitalism not being all bad. That a lot of the issues we have with capitalism are because of bad money.
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zyrotin 2y ago

At its core there's nothing wrong with capitalism. It's bartering with a single layer of abstraction.

It doesn't really get bad until the person(s) making the decisions doesn't have to think about the people it's effecting.

It doesn't really go bad until the system gets large enough that you can start categorize groups of "those people." I mean, you wouldn't do anything to destroy the lives of bill or sally or jaun, but if you need to screw over "those people" a bit to help the bottom line, which will of course help you help bill and sally and jaun, it's not that big of deal. It is just "those people."

And now we've got a hand full of billionaires and 7 billion of Those People and soon enough we all live in a late stage capitalism hellscape.

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nobody 2y ago

We have massively inverted incentive structures with easy money in our economy. There's so much money sloshing around that speculation wins so much more often than true innovation or value.

I don't think the billionaires we have now would exist under a Bitcoin standard. That is, billionaires who have made their money through the attention economy and surveillance capitalism (Zuck), government contracts and subsidization (Musk), rampant consumerism of cheap shitty goods (Bezos), etc.