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0 sats \ 2 replies \ @Diego 16h \ on: Bitcoin: "A system built for wealth extraction and concentration" bitcoin
What is meant by ‘It is a tool for the young to access capital before the old are willing to give it to them.’
Is the like inheritance?
Starting a business as a fresh college grad in your 20's, might be a good example.
In a Bitcoin world, no one would give you the capital necessary to start the business because you're young, unproven, high-risk. In a credit-based world, it is relatively easy to get the capital.
Based on this, it would seem that Bitcoin is anti-capitalism.... anti-entrepreneurial.
While there is truth to this, I think the truth is somewhere in the middle. Young entrepreneurs could still get capital in a Bitcoin world, but they would have to work harder to convince the capital allocators. They wouldn't be able to "fake" their way into it, the way they can today (ahem... SBF).
It's a very interesting discussion point, nonetheless.
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