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Kuzushi
Member since: 2025-09-07
Kuzushi
Kuzushi 1d

*Bitcoin enforces its own property rights* This is a good point. Maybe just the fact of Bitcoin fundamentally being property isn't enough to make it inherently capitalistic. I definitely see the potential to be "politically agnostic" as Andrei Antonopolous put it

Kuzushi
Kuzushi 1d

Ask yourself why fiat currencies are a thing. It benefits the most wealthy and powerful people on the planet and they'd be stupid not to take advantage. The ownership class is unaffected by inflation because prices adjust quickly and it has the added benefit of keeping workers dependant on the system. Politicians and imperialists love it because they can continue to fund illegal wars and genocide without taxation. Fiat is a natural and inevitable result of the incentive structures within capitalism. Now also ask yourself just how revolutionary Bitcoin can actually be without massive reforms of the global economy.

Kuzushi
Kuzushi 1d

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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