People say, Money is the root of all evil. Is it true? Maybe it is that the world is evil, And money is just a means to an end? Maybe it is that people are evil, And money reflects their intentions. Maybe it is that money is just a ledger, And humans are not capable of loving each other unconditionally.
Sad to say but Bitcoin is not much different. Even in El Salvador most of the poorest people just sold their 30$, That’s about a days worth of money for me, Maybe 2 weeks for them. Capitalism is and will never be “fair”. It is easier to imagine the end of the world (nukes) than the end of capitalism. El Salvador repaying it’s debt to the IMF will do more to solve the poverty there than any of the Bitcoin companies moving to be based in El Salvador. If everyone in the world could somehow download an equal share of the whole Bitcoin supply it would be “fair”. If anything Bitcoin is hyper capitalism. Money you acquire through energy or work that ideally you never use to recapitalise later. It is actually more unfair than dollars, It helps only the individual. But it does help.
A major issue with money is that most people do not have a desire for personal financial responsibility. The relevance of Bitcoin is that the individual who is personally responsible can overcome an underwater economy. But there is nothing fair in that economy.
I think studying the developing world really helped me to put in perspective what “rich” and “poor” is. In America, Having less than 4000$ and earning less than 14,000 a year is “poor”. In the developing world, 5$ a day, Down to 1.35$ a day, Is extreme poverty, But these people are less dependent on a financial system to meet their needs. They fish and hunt for resources and build homes out of natural resources. In the United States 100,000$ a year is “rich” and 200 billion and up is as “wealthy” as you (anyone) can be. There are “wealthy” people living in countries with extreme poverty, Luanda, Angola is an interesting case study of this wealth and inequality comparison. People living in the modern sector still live a “rich” lifestyle, Even at American standards, While the extreme poor live on 5$ a day. The subsistence that keeps the poor in America living a higher standard is the ability to commit crimes to meet their needs, Where people in developing countries can not even find resources to steal. The corporations like Wall Mart, Target ect keep the poor in America living at higher standards than in developing countries. India is a good example of this as well, Basic Human Resources like a tooth brush are only available in cities. You could probably make a good business by providing all villages in India with these kind of basic resources.
The government in especially developing countries is bad, usually a knockoff of the American western democracy model, Or some shell of soviet era communism, But Bitcoin does not solve problems in any lives without education. It is still a privileged asset.
I think Bitcoin needs to fix generational poverty in the Congo, Where children carry bags of coltan used to make batteries and microprocessors for 200$ a month. Demanding payment from the Chinese mineral buyers in tether and teaching the local people to pair trade USD-T and Bitcoin would
push lots of privilege down to the people doing literally the most work for the Bitcoin revolution.
https://m.youtube.com/watch?v=_V3bIzNX4co here is some insight. There is a southern Congolese town called Kolwesii, Where the Coltan ore is brought to market. There are Congolese workers negotiating with Chinese buyers. Many locals come to pick the scraps after hours when the mine is closed. The Chinese corporations own the mines, They are purchasing from Swiss owners for supply chain on all technological products. Shenzhen is where almost all tech production takes place. The Swiss and Chinese have owned African resources behind the scenes for a very long time now. Bitcoin is providing an avenue for people to overcome corporate oppression, But actually going to places suffering from extreme poverty and providing resources for Bitcoin education is the first step. There is a Bitcoin mine in the north of the Congo that employs Congolese workers, And somehow drawing a connection between these local bitcoin mine workers and the coltan miners is the missing step.
There is no way to stay legitimate in an insolvent economy, Only law abiding. When the government is underwater everything they create trends toward zero.
Single origin pour over coffee from 90 degrees Fahrenheit to room temperature. Coffee has a different profile of flavour that is expressed when the oils come to the surface at these temperatures. The pour over is also the Highest caffeine content.
Oddbean new post about login | logout
Notes by Theory of Everything | export