CMV: Bitcoin is not the future.

What is so special about decentralizing money?

In what way is it decentralized? It isn't nationalized, those are very different things. The USD isn't actually nationalized, but it's sure as hell centralized. I invite you to check the pool distribution.

Financial sovereignty is like the sovereign citizen, it's saying you can have all the benefits of society, without having a society. There's no evidence of that. People want full control over their money, but if they have it, it isn't money. You can want to not pay pointless arbitrage fees, and I'm right there with you, but that's not about decentralizing the currency, that's about regulation. In a free market, absolute inequality is the inevitable result, one winner, and everyone else is dead. That's why we have regulations.

Bit coin enthusiasm seems to be taking all the desires and hopes that would create a national bank, or just laws against transaction fees, or maybe funding for more co-ops and credit unions, and saying "Let's give Ayn Rand total control of our lives instead!"

I'm glad I read your post because it's the most coherent defense of Bit Coin I've seen. . . but that cyber-libertarian nightmare I mentioned in the OP? You basically pulled back the veil and said "See, the thing is that the whole thing is that nightmare." I'm not asking you to agree with me on that or anything, but I think we hit a sticking point where I'm not just not going to be able to change my mind, I no longer want to. Shit just got ideological :P, and I'm some kind of socialist or something, but not a libertarian, not even a little tiny bit.

/r/changemyview Thread Parent