Oddbean new post about login | logout Define work. Do people who bought BTC 10 years ago get deported for not working? Bitcoin is a “system” isn’t it? And they’re leeching off the labor of others, aren’t they?
No they've allocated capital to the most important project in human history, this is even more valuable than labor
So is allocating capital work? Or is it a system used to leech from the real labor of others? It sounds like Peter Schiff wants to deport people who have no capital to allocate in exchange for people who are even easier to exploit for their labor.
Yes it is work, because to allocate it you must have first earned it and been a good stewart. It's not a system to leech off of others, it deploys their labor. Offering people a job is not exploiting them, this is communist rhetoric. Nobody has a gun to your head when you sign an employment contract. Anyone can start their own business and create jobs.