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Replying to Avatar Kuzushi

Proof of work kind of implies the labor theory of value if you think about it. Also imo fiat was an inevitable evolution of the dynamics of private property rights and finance capital. Bitcoin is definitely still capitalistic in that it is an attempt at saving property rights from this contradiction; but sometimes inventions have positive effects that were never intended and this may be the case for Bitcoin and the way economics evolves. Capitalism -despite what libertarians insist - is a top-down centralized system and the conflict between that and the decentralization of Bitcoin must resolve itself.

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BlueDuckBTC 1mo ago

I concur with everything except Bitcoin is capitalistic…not that I vehemently disagree, I just need more convincing.

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