Peck by twetch#13821

twetch#13821 6.7y

1JLBut…aTuZ Key · twetch

Capitalism isn't the enemy, it's the state and fiat.

When you're free to redefine capital, capital ceases to be a system of control, but one of freedom.

What the chain says

Transaction: 2616f6e1c568fb64f94534a5eea112cc6a2c6d4141cbea2fb039e1b12c374351
Block: 618 487
Time: 2020-01-20T17:42:55Z
Signer: 1JLButMZPU7xu2PUBPxekTcpJKPzZuaTuZ
App: twetch
Type: post
Content type: text/plain
Name in tx: twetch#13821

Fields the transaction did not carry are omitted. Open the payload to see the bytes as stored.

Signed by 1JLButMZPU7xu2PUBPxekTcpJKPzZuaTuZ Verified

Replies (15)

twetch#864 6.7y

1JLBut…aTuZ Key · twetch

Replying to@1JLBut…aTuZ

Satoshi chose proof of work. Contrary to proof of stake or other governing mechanisms, it’s powered by capitalist mindset that must compete in the open which also prevents it to cheat. That’ll drive everyone who wants to work to prosperity and freedom.

twetch#13821 6.7y

1JLBut…aTuZ Key · twetch

Replying to@1JLBut…aTuZ

You're not wrong. Blockchains that support second layer tokens also allow for a wide variety of capital definitions, from traditional to otherwise.

This is where the freedom opens up, and it's not incompatible with Satoshi's first level settlement layer.

twetch#13821 6.7y

1JLBut…aTuZ Key · twetch

Replying to@1JLBut…aTuZ

For instance, let's say you're using tokenization to instrument a smart grid. Does it matter to your smart meter and lightbulb that your token has a monetary value? Or is it more important that it has a kw/hr value?

twetch#864 6.7y

1JLBut…aTuZ Key · twetch

Replying to@1JLBut…aTuZ

Best if your token has it's own intrinsic value for work/info it carries. It is only bound to the monetary value so it can't be cheated.

Continue thread →

twetch#864 6.7y

1JLBut…aTuZ Key · twetch

Replying to@1JLBut…aTuZ

Word. We just needed a proper scaling on the byzantine fault proof decentralized main contract layer so we can program against it fast and cheap and then we can start to use merkle proofs on the application layers as well. So many open doors here.

twetch#1612 6.7y

1JLBut…aTuZ Key · twetch

Replying to@1JLBut…aTuZ

Capitalism discourages competition. it's proof-of-stake that's similar to capitalism. You're maybe thinking of free markets. Supporing free markets is orthogonal to supporting capitalism.

twetch#864 6.7y

1JLBut…aTuZ Key · twetch

Replying to@1JLBut…aTuZ

Creativity is what drives capitalism, it wants to be free so it must compete and find ways to surprise with solutions in the sense to outperform existing ones. Whereas socialism wants to control, govern everything for optimising and redistributing.

twetch#1612 6.7y

1JLBut…aTuZ Key · twetch

Replying to@1JLBut…aTuZ

State control is also orthogonal to both of those. There are both anarchist and statist socialists. There are socialist anarchists in favor of markets, and socialist anarchists opposed to markets. Sorry if this is too complex for you. You've been lied to.

Continue thread →

twetch#13821 6.7y

1JLBut…aTuZ Key · twetch

Replying to@1JLBut…aTuZ

It's probably surprising to learn, but many AnComs are huge fans of blockchain for this reason.

twetch#1612 6.7y

1JLBut…aTuZ Key · twetch

Replying to@1JLBut…aTuZ

Capital literally means anything you can use to produce value. Nobody believes there shouldn't be capital at all, that's completely absurd. It's not capital that's the problem, but the ownership of capital by a ruling class that uses it to oppress workers.

twetch#1612 6.7y

1JLBut…aTuZ Key · twetch

Replying to@1JLBut…aTuZ

It's not capital that's the problem with capitalism. The problem is ownership of capital by a ruling class that use it as a mechanism to demand work while doing literally nothing in return. (Entrepreneurs and managers are doing work but many owners don't!)

Post by twetch#13821

Replies (15)