Subnostr

If Wells Fargo can create currency with the click of a button, and I have to work all day to create it, that’s a currency with an inequitable labor contribution. If two men instead want to mine a Bitcoin, they have to put in the same amount of work to procure the miners and run the miners.

Everything is about labor. The support for this truth is found in 5,000 years of using gold and commodities as stores of trade value. When currencies not requiring stored energy are employed, they fall apart…like every fiat currency ever. We need a currency that requires just as much work for one guy to create as it does the next.

Boog 2y ago

Hopefully Bitconers don’t become the new unproductive class hoarding all the spoils like billionaires of today’s fiat world. I hear people running away beaches and isolating themselves to citadels but nothing about hey this will allow me to be more productive and move humanity forward by solving more problems and providing more goods and services so all humans have the opportunity to live like a westerner has the past 200+ years. Adequate food water and shelter.

Reply to this note

Please Login to reply.

Discussion

Aurelius 2y ago

I agree with your concern. I think that even wealthy Bitcoiners are less inclined to this because Bitcoin doesn’t breed more Bitcoin, in the same way that tremendous amounts of fiat breed fiat through “staking” with legislators in the form of tax policy, government contracts, 0% loans, and bailouts.

Boog 2y ago

Great point