Quote from: davis196 on August 24, 2016, 05:21:36 AM

Quote from: lm2f on November 18, 2013, 06:44:17 PM

It's inherently classist. Only those with access to moderately high levels of technology can spend or receive it. Only those with access to exceedingly high levels of technology can "mine" it. Heterosexual, middle class or higher white males are disproportionally represented in the demographics of bitcoin users. Bitcoin only serves to uphold the current kyriarchal socioeconomic structures by making sure the privileged become more privileged.

And it's a terrible idea. You spend more on your parents' electricity bill and replacing burnt out GPUs that your parents buy for christmas and birthdays than you actually theoretically make.

Bitcoins are basically just this weird attempt by lolbertarian children to make their own currency and play stock market and dodge taxes.

You call a cheap PC "high levels of technology"?

It`s no secret that bitcoins can be printed and used as paper money.

You don`t need rocket technology to use btc or mine them.

You are not obligated to mine them, so why do you care about electricity bills?

I really don`t know how bitcoin can make "privlieged become more privileged".

Because only people privileged enough to own computers can own bitcoins. Which results in a feedback loop that keeps the poor people out. Meanwhile those privileged enough to have computers profit off it and become even richer.