Re:Bitcoin Technology Piques Interest on Wall Street
by ilaksh on Saturday August 29, 2015 @05:05PM
(#10141348)
> Money has one important purpose :
1) Efficient allocation of labor for society's benefit.
The real numbers show that maybe around a billion are obtaining much more benefit than they other 5/6 billion, and often because of the have-nots' labor.
So on that basis you are wrong. But also, tevhnology is rapidly making labor irrelevant, as more and more work is automated.
> Since by definition society requires centralization to direct its purpose.
Bitcoin is an example of a decentralized system with a common purpose. So is bittorrent.
Or see any technology for distributing work or decision making.
Centralization in economics or politics leads to stagnation, authoritarianism, inequality. It is the primary problem that technology allows us to solve. Ordinary money was the first technology for solving over-centralization. We can do much better.
The real numbers show that maybe around a billion are obtaining much more benefit than they other 5/6 billion, and often because of the have-nots' labor.
So on that basis you are wrong. But also, tevhnology is rapidly making labor irrelevant, as more and more work is automated.
> Since by definition society requires centralization to direct its purpose.
Bitcoin is an example of a decentralized system with a common purpose. So is bittorrent. Or see any technology for distributing work or decision making.
Centralization in economics or politics leads to stagnation, authoritarianism, inequality. It is the primary problem that technology allows us to solve. Ordinary money was the first technology for solving over-centralization. We can do much better.