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No argument that those closest to the money printer extract the most value. The money comes from the fed and commercial banks so get rid of the fed and allow banks to fail while adopting bitcoin is my solution. Whats yours?

BlueDuckBTC 4mo ago

Respectfully, I don’t think you understand how money creation works. When a bank makes a loan for a house, that bank created money. That created money goes to the contractors to build the house. If those business owners don’t use “proof of work” for compensation, then more than likely the owners will exploit cheap labor to make themselves richer. This model scales up and down.

Yes, bitcoin will help change incentives, savings, and the monetary system. No, bitcoin cannot change ideology with just protocol alone.

You can understand this completely because you are indirectly defending a system that revolves around “proof of stake”. Respectfully.

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Speedster 4mo ago

How does a business owner use proof of work for compensation?

I haven’t defended the proof of stake fiat money system at all.

You still have not provided a solution and frankly your description of the root cause of the problem is incoherent. Despite several interaction i cant understand you.

BlueDuckBTC 4mo ago

I’ll use a real life example. I own a construction business, it is profit sharing and we compete within our local market. Everyone gets paid according to the job and the work they completed…including myself. I don’t sit in an office or truck all day collecting large sums of money. If I dont work, I don’t get paid.

Proof of stake does not apply to just money or fiat money. Proof of stake is having more authority/control by simply holding an asset.

I have provided a solution, one of which we agree on, fix the money. The second is, educate people on proof of work, break the current Stockholm syndrome most people have with capitalism.

I apologize you do not understand me. I am trying to be as clear and simple as possible.