RE: Bitcoin’s Original Sin

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RE: Bitcoin’s Original Sin

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cmplxty in Rant, Complain, Talk • 18 days ago

Very well said man! I am a principle person in a lot of ways. I think we should strive to be more principled, because when more people were, that's when the world was a better place for the average person, in my opinion.

People were cheering left and right about the ETF's and other financialization of ol' bitty. I was on the other side saying "be careful what you wish for" and was called an asshole.

I think bitcoin is for sure much less of a libertarian perspective than it has ever been. Hell, most of the people now that are in "crypto" are not at all libertarian and are far more subservient pansies and bandwagoners. I am certainly not perfect but I would like to think that I have principles that help me retain what some of the original aspects of bitcoin are meant to be.

Where we go from here is a tricky part - can we regain financial freedoms that we started to explore?

18 days ago in Rant, Complain, Talk by cmplxty

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dbooster 18 days ago

I was on the other side saying "be careful what you wish for" and was called an asshole.

As was I. The hype was so strong than anyone questioning it was attacked. The allure of wealth is just too strong, I suppose.

Where we go from here is a tricky part - can we regain financial freedoms that we started to explore?

I don't know. It won't be with BTC. We can still trade that one, but it's now part of Wall Street and is little different from trading any stock. I'm optimistic that smaller alts like HIVE might continue to fly under the radar and escape the increasing regulation. Price-wise, we will continue to be heavily correlated to BTC, I guess, but maybe we can carve out a space where we care more for those original ideals than money. But I don't know... Hive is currently controlled by a cartel of its own that makes it even less decentralized than BTC has become. So... I don't know.

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cmplxty 14 days ago

Yeah for sure it's going to be the alts that reign supreme in terms of the tenants of true decentralization and crypto's principles. I know that places like Hive have their own issues with that, but I think we are making moves in the right direction. Whether those moves have enough of an impact is to be determined.

I think at this point with Bitty, I'm going to keep it until it serves my purpose. I am hoping to be able to trade it or sell it for something important. Whether that happens or not remains to be seen, but at least I can get something out of it instead of holding it forever.

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agmoore 18 days ago

I look at economies that have devolved, or have not yet evolved. The resourceful survive. The flexible. Can't be set in a 'profession' but have to respond to the dynamic of the economy. Something as basic as knowing how to fix things becomes important. People create opportunities in microeconomies--selling to each other. Almost everybody is an entrepreneur, neighbors selling and buying from each other.

My husband and I are living on pensions and Social Security. That model won't be here in the future, I think.

Owning assets...a piece of land, a home, tangibles such as gold and other metals. That's the only security I see. Translates from one economic model to another.

Does this sound post-apocalyptic? I don't see good things coming. There isn't a lot of hope in the young, and I think they are right.

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cmplxty 14 days ago (edited)

Oh for sure! It's incredible important to be able to trade things with our neighbors, the local people around us. I do it all the time, and people have done it for millenia. We trade favors. I know how to fix X, Y and Z and I tell my neighbor about it if they have a problem they talk about. We then figure out minor ways to help each other out.

I think the days of working in a single spot on a factory floor are gone. Specialization is okay in some categories but being siloed is detrimental to society as a whole, in my opinion!

It sounds a little apocalyptic but it's a cycle, unfortunately. Hard times create hard men. Hard men create good times. Good times create weak men. Weak men create hard times. If we look at history with this lens, it lines up pretty accurately every half century or so!

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