Bitcoin philosophical musings and pressures 7 years in [drifted from: txrate, forking, etc]

[Lodewijk andré de la porte]

2015-07-08 7:27 GMT+09:00 Sean Lynch <seanl at literati.org>:

>         What? Bitcoin exists so that rich people in western countries
>>         especially the US can become even richer. So far it worked
>>         pretty well.
>>
>
> Really? What rich person has gotten richer through Bitcoin so far?
> Remittances seem like the biggest use of Bitcoin at the moment. Sure,
> there's plenty of speculation, but your claim that Bitcoin's purpose is to
> make the rich richer is also speculation. And FUD.
>

Yours would the Uncertainty and Doubt, I see.

Bitcoin is cold hard money - therefore benefiting those that can exploit it
best. The most capital you have, the better you can exploit it. Therefore,
the wealthy stand more to benefit from Bitcoin than anyone else. Any other
effect would indicate softness of Bitcoin or some human issue. It does
prevent (certain forms of) suppression; it's very hard to censor financial
transactions on the Bitcoin network. It also provides a great deal of
financial and administrative utility to all in similar quantity, it levels
the playing field of the poor/rich somewhat.
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