Politics & Philosophy by Dr. Martin D. Hash, Esq.
Bitcoin is imaginary money NOT controlled by government. Its primary appeal is to people who want to evade taxes, or buy cocaine. Bitcoin's promoters claim they save money by eliminating Third Party fees, but Credit Cards are actually a means to loan money to people who don't have it, fees are of a secondary concern to them. Plus, for the segment of the population who have some money, Credit Cards are a convenience without a downside because they actually protect you from thieves & rip-offs, and it costs nothing for that protection. Merchants like credit cards because it brings sales from people who need to borrow money. Certainly, except for shady folks who only want to deal in cash, nobody but ideologues, bootleggers & Venture Capitalists are clamoring for Bitcoin.
Bitcoin is also cited as a stability hedge against inflation but if you know anything about Bitcoin, you know how unstable it is. Not only does the price fluctuate wildly, but in the carefully balanced artifice that is the World's economy, Bitcoin exists at the top of the pyramid, and will be one of the first things that come crashing down in hard times. What military is going back Bitcoin when The Collapse comes, and no nation is going to let their social safety net fail while elites blithely logon to their Bitcoin account in Shanghai so they can buy caviar. Bitcoin is a solution solving no problem, its implementation suspect, and its promoters bordering on charlatanism.
Categories | PRay TeLL, Dr. Hash
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