|
There is nothing in the protocol that will prevent anyone from hoarding or buying large amounts of bitcoin because they already have the capital to begin with. Therefore you can think of those people as similar to institutions or the 1%. So bitcoin is just another investment mechanism. That's all. No panacea here, just an over-hyped new technology that helps create profit for the ones who already have money. One that currently is only available to people who have enough resources to risk. The panacea that "bitcoin" was touted as across the web and forums galore, is just utter bs. I see a world of many private blockchain implementations but nothing that solves these censorship and printing money issues you speak of. Since according to popular theory when you print money your currency get devalued, but bitcoin also goes down when a gov say we don't like it or someone decides to start cashing in at a large scale or overhype of an issue or underhype of another. The end result is the same, less value. But here are your answers: 1) You live and take advantage of many things you might take for granted in a society that has a certain framework that must be maintained by service providers and it is maintained implicitly by the hordes of people on earth, when greed occurs or kinks in the system happen, printing money or not printing money are just tools to deal with issues. 2) Last time i bought something on craigslist, ebay, alibaba, amazon or from Sandy down the street i don't remember any censorship. I could be mistaken though. Maybe i did not think about something. I would like to see an example of this payment censorship you say largely affected your personal life. Now definitely if you are trying to buy armored tanks, automatic weapons, drugs, women, censored dildos, yeah i could definitely see censorship. I just don't try to buy those things. :) Don't get mad now, my sense of humor is an acquired taste :) |
There are a lot of people who got rich because they got into bitcoin early... well, here's the secret-- it's still early. Very early.
Bitcoin solves the censorship issue-- nobody can stop you from transacting your bitcoin. It's not perfectly private, but things like z.cash and other technologies are enabling the anonymous own and control of bitcoin.
Printing money is a form of theft. People will pay for services they want. There's no problem for Amazon or Walmart or any of hundreds of service providers getting people to pay for their services. They don't have the ability to just print money to pay themselves (and give to the well connected-- it's ironic you call this a tool when we have seen $10T in new money issuance since 2008 that has mostly gone to politically connected %1 to enrich themselves at our expense.)
Censorship happens all the time-- government prevents you from buying insurance under Obamacare, for example. (literally, obamacare plans have no underwriting and thus are not insurance) that's a whole category of goods that are moral yet illegal to sell, and you are forced to buy an inferior product to replace it that doesn't deliver on the same promise.
Further, censorship is present in the form of border controls-- there were reports of agents stopping people on jetways as they were boarding jets to search to see if they were taking gold out of the country. From 1915-1975 approximately it was illegal to own gold in the USA and smuggling was occurring.... that's literal financial censorship and it ended not that long ago. There are a great deal of controls on USD movement, FINCEN wants to track your assets internationally, and ultimately restrict what you can move and when... that's censorship.