Re:Federal Reserve to increase interest rates by 50 basis po...
by UncleMeat on Wednesday December 14, 2022 @10:36PM
(#33994848)
But I have no vote in its adoption. "Anybody can propose a change" is not democracy. Not even remotely close. I am frankly horrified that somebody could conclude that this is a just system under which to operate money.
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Re:Federal Reserve to increase interest rates by 50 basis po...
by rglover on Wednesday December 14, 2022 @10:55PM
(#33995012)
It’s better than democracy. Anyone can influence the direction of the network. The best ideas win (if you want to be pedantic call it a meritocracy). The status quo is a bunch of bankers, behind closed doors, determining your fate. I’m frankly horrified that you think that’s a just system.
Re:Federal Reserve to increase interest rates by 50 basis po...
by UncleMeat on Thursday December 15, 2022 @01:35AM
(#33996054)
You previously used the phrase "100% democratic halving algorithm." If you want to argue that the system is better than democratic control over our financial systems then that's a completely different discussion.
I don't agree that "the best ideas win." I certainly don't agree that the halving system is a "best idea." It massively and almost permanently privileges early adopters, creating a landed gentry of the modern world in a completely unjust. The ideas most valued by a particular set of people (either the core devs or the miners, depending on how you define BTC) are what wins. That's aristocracy.
Re:Federal Reserve to increase interest rates by 50 basis po...
by rglover on Thursday December 15, 2022 @10:10AM
(#34000668)
Well then I guess you're screwed.
Re:Federal Reserve to increase interest rates by 50 basis po...
by UncleMeat on Thursday December 15, 2022 @03:52PM
(#34005584)
"Screw those other people" is not my idea of a just system.
I'm glad you got rich as shit off BTC. That doesn't make you a good person.