Post
Topic
Board Politics & Society
Re: What makes a currency meaningful?
by
RodeoX
on 17/11/2014, 18:01:48 UTC
I liked your post. But I don't think cryptocoins are going to address human greed. The only way to discourage hoarding of anything is to devalue it. Doing that destroys it's utility and will keep anyone from using it.

The big difference with something like bitcoin is not that it will keep the greedy away, but they must compete equally with you. Take for example the "qualified investor" in the U.S. To be qualified you must have a million dollars and expect to make 500k this year. How insulting is that!?! It implies that the poor are to stupid to invest their own money and that just having money shows how smart you are. The system is rigged to keep normal people from investing and living off of capitol gains, exactly how the rich make their money. The poor are expected to work and create the real value that the rich are cashing in on.