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111 sats \ 4 replies \ @nullcount 14 Nov 2023 \ on: Does Bitcoin solve the problem of greed/avarice ? bitcoin
You probably think greed is a problem because traditionally, most systems become corrupted by greedy people.
Anything that can be corrupted will be. Simply because people are greedy and will corrupt something if it gives them an advantage.
Bitcoin works because people are greedy. It rewards selfish actors (like miners), and punishes selfless ones (like zero fee routing nodes). The difference is that Bitcoin is resistant to corruption, so it makes greed a positive trait rather than one that threatens the sanctity of the system.
Recognize that your own desire to "be less greedy" is actually a selfish desire. Maybe you want to feel more esteemed about yourself or you desire to be viewed as charitable by others. Both the desire to be greedy and the desire to eliminate your greed is rooted in ego.
Ego aside, you will see that without any greed, the individual would starve having given everything to beggars. In all things, moderation.
Indeed, Bitcoin "uses" greed to operate as a network.
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I think it's important to distinguish between greed as a motivating force and greed as a destructive force. Greed can be a powerful motivator, driving individuals to achieve great things. However, when greed becomes excessive and unrestrained, it can lead to harmful behaviors.
You raise an interesting point about the role of greed in Bitcoin's success. It's true that people are naturally inclined to act in their own self-interest, and Bitcoin's design reflects this reality. Miners, for example, are incentivized to secure the network because they are rewarded with bitcoins for doing so. This selfish behavior, however, has the positive outcome of ensuring the network's integrity and stability.
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I guess my point is greed is ONLY a motivating force. It can motivate you to be destructive or productive depending on the incentives of the system which you operate. In this way, greed is a tool. Its not that being excessively greedy makes you destructive. It's that when a society allows destructive behaviors, greedy people will be destructive.
For example, Genghis Khan was greedy in his conquest of the ancient world. His greed was mostly destructive to civilization. But he operated in a system of warring states where there was no rule of law and thus nothing external to himself to direct his greed to productive uses.
If someone started doing what Genghis did today, they would likely be stopped very early in their career because we have systems that prevent theft, conquest, murder, etc.
But someone like Jeff Bezos, who is arguably just as greedy as Genghis can direct their greed towards means that are rewarded by the system in which they operate. Both Bezos and Genghis live like emperors because of their greed, but the system in which they operate allowed one's greed to make productivity, while the other system allowed one's greed to make destruction.
I think bitcoin is a system which funnels greed towards production.
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After that example of Genghis Khan and Bezos, I was speechless. Good answer 👍
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