<nettime> Now also bankers know what bitcoins are

Jaromil jaromil at dyne.org
Thu Apr 7 12:08:30 PDT 2011

hi Aharon,

On Thu, 07 Apr 2011, aha at aharonic.net wrote:

> bitcoins - isn't this simply a distributed structure to do
> capitalism with?

That's not even the worst you can do with it. you can do money
laundering, buy drugs online and sex toys, all anonymously.  but
that's not the point, because despite the coercion imposed by all
kinds of regulatory systems so far, also current official monetary
systems are full of that shit, on top of the capitalist pie.

Emerging technologies should never be judged by the sensationally bad
taste of early adopters. it's like being concerned about the shit that
fertilizes some beautiful flowers, wasting their seeds.

What really bitcoin is, I finally understood on the 6 april (which
somehow always ends up being a magic day, eh!): this is now the end of
the *flow capitalism*, which consists of the monopoly on transactions,
the hegemony of banks on the movement of values and not just their
storage, this middle-man mafia strangling the world as we speak.

How right are now those South American countries asking the "taxation
of transactions", an argument refrained in many speeches of the
companeros. They studied the system and understood that there is a
crucial problem there, that needs to be solved urgently. Yet i'd argue
here taxation on transaction cannot be the solution. The solution is
to eliminate the flow capitalists.

If i want to give you money i'll give it to *you*. me and you,
period. its fine that we'll pay our taxes for our communities, don't
get me wrong this is not a tea bagger argument. its just not right
that all what we do is in the hands of a third party, that has been
caught cheating already many times: look at what happened at the
paypal accounts of the Iraqi linux user group back in 2004, or even
more recently to Wikileaks.

We don't need those fat cheaters to be in between our value
transactions anymore; the flow capital has played its disgusting role
in the little laps of history for which it has been needed, now sadly
these people won't give up what they have accumulated, so it makes
more sense to leave them alone and multiply more monetary systems that
work efficiently across diverse networks and that rely on the
neutrality of a cryptographic authentication.

the death of the flow capital is a new stage for the necrotization of


jaromil,  dyne.org developer,  http://jaromil.dyne.org
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