pull down to refresh
0 sats \ 0 replies \ @Daedalus 1h \ parent \ on: Samourai Wallet Developers Plead Guilty To Unlicensed Money Transmission Politics_And_Law
Yeah that's cool and all but they have a monopoly on violence
You just haven't thought the logic through the end conclusion. PoW mining only works as decentralized consensus insofar as a majority of miners are normal honest people. When specific hardware has an advantage, the mining pool centralizes there creating a situation where whoever controls that hardware controls the consensus.
What you've done in your argument is extrapolate the egalitarian principles of RandomX mining into being equivalent to communism. Then you used the specific real-world instance of communist society, Cuba, to conclude that RandomX is bad. This logic is a non-sequitur, it doesn't follow.
Genius idea! You make a great case for how a conservative, minimalist people maximize the human elements of life for all, instead of just in their personal lives.
In these matters I always like to think about the power we have as individuals to affect this change. If all of us spontaneously decided to take steps to reduce consumption, the world would be fundamentally changed. Of course, this is not practical, but just one person's choice to avoid consumption has a knock-on social and financial affect that can very likely spread. This pursuit in all of us is far from fruitless.
In terms of cashflow (ignoring ridiculous U.S. tax laws), it's identical to spend x amount of usd in btc in one transaction vs x amount in plain usd since you create an equal value opportunity cost. Thinking that sats are only earmarked for savings, and fiat is only earmarked for spending is illogical when both are extremely easy to trade for each other.
This thinking drastically reduces bitcoin adoption and contributes to a HODL culture that ensures bitcoin is not a threat.
In short, if you buy a car for $5k it doesn't matter if you spend sats or dollars, you still spent $5k on a car. In both cases you lose out on the opportunity cost of $5k worth of bitcoin at time of purchase.
GENESIS