0 sats \ 0 replies \ @om 11 Oct 2023 \ on: Imagine a Bitcoin society, but how will it function? bitcoin
What will be the role of government then
Bandits and parasites, just like today. Even if you transact in Bitcoin, any extortionist including the government can still observe the movement of goods, point a gun at you and demand a cut.
Would it not lead to more corporate crony capitalistic bullshit, since the idea of welfare state would fall apart.
As others pointed out, it would mean less corporate crony bullshit since the government can no longer print money to give to the corporations.
How will people at the bottom-most layer survive, who can not afford education, electronic devices etc. Some people and even countries depend entirely on cash.
Some company would offer a device in exchange for a fee from every payment. See for example how ACINQ offers lightning channel setup and maintenance for a 1% fee. Also that's basically how banks issue cards.
Those who joined Bitcoin early would always have unfair advantage over those who adapt it later.
In other news, those who invested in Internet early got wealthy. If you guess the Next Big Thing and invest in it, you'll get wealthy too. So Bitcoin is par for the course.
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