[axanoeychron]

Bitcoin is technically interesting and awesome. My problem with Bitcoin and why it does not completely solve the problem described in the article - it is a social problem.

Like land, a lot of Bitcoin is landed wealth. It has an inherent inequality in who starts with it. This is what makes me uncomfortable with it. If you transact two goods or services to obtain Bitcoin, that eliminates the inequality.

For an unbanked person to obtain this digital currency, they would have to provide services in exchange for BitCoin. They would have to 'serve' someone else. A bit like land rent.

[icebraining]

Bitcoin miners provide a service in exchange for the bitcoins they receive, too. The network can't work without mining. And there's no rent - the coins only keep coming if you continue to provide that service, usually having to invest money and time into new hardware.

It's a capitalist system, but it's hardly landed wealth.