RE: What is Cryptocurrency, but a Return to Human Dignity in Economics? (Thoughts on crypto, humanity, and the inevitable upcoming clash between coin and state)
I find it interesting that you would start a post on Cryptocurrencies and give the merits of "basic natural law and property rights" I say this because I see Cryptocurrencies as a violation of those same natural laws. As a matter of fact I see it as fiat! Please notice I didn't say government fiat. As I'm sure you know, but others may not "fiat" means "So be it" , and once only a king and his ilk could say "so be it" and have what he said come to pass. However now most of the kings have been replaced with governments so people relate So be it (fiat) to what governments might do. Hence fiat (So be it) money! People want to take back their power to say So be it for their own benefit, and that is all well and good as long as there is no negative affect by your right to say those words to others. Cryptocurrencies in their current form violates the basic natural law that you talk about. However before I can talk about how I think they do that, I have to give you my understanding of what currency is, and what is the difference I believe there is between currency and money.
This is a source of money!
This and any of the other commodities
https://modernfarmer.com/2013/12/chop-wood/
And I am not talking about making it into paper and then printing symbols on it.
This is not a source of money
https://www.dreamstime.com/stock-photos-globe-server-image3002843
And it is not (as some say) the new type of money. It is not even currency unless it is somehow connected with human effort. Money comes from a person's effort. I make this statement because some have called Cryptocurrencies money and that is where the evil side comes in.
a blatant, calculated, unapologetic and brutal denial of the immutable biological and metaphysical reality of individual self-ownership.
I believe that "self-owership" referred to is in direct connection with the fruits of ones labor. A very important question, is a computer's labor 100 to 1000 time more acceptable than a man or woman's labor? Right now you might reply to that question with "YES! because it is going up". Let's take a look at the closing numbers right now Bit-coin is currently at the 14,500 level, the 200 day moving average is at 4,700 which is down 68 percent and the 200 week average is at 1,365 down 89 percent. So you can have a 70 to 90 percent retrace and Bit-coin and it would still be in an up trend. However I don't think people who got it some time back should be to happy with those numbers. Because it shows that people are taking profit and to the people that are taking profit that's a good thing, but for the others, not so much.
Those who have not taken profit.
The Island of Dr. Moreau
Are We Not Men ?
So do I think Cyrpto's are a good thing?
“Venezuela will create a cryptocurrency,” backed by oil, gas, gold and diamond reserves, President Maduro said in his regular Sunday televised broadcast! This is my idea of a real cryptocurrency. What is the reason that people dislike the dollar other than taxes ?
which could be remedy by a flat tax as there are in many nations states
It is because the dollar is printed without anything backing it. You might reply "that's not true it's back by oil." Well for one thing it's not backed by our oil, also that is very quickly becoming a thing of the pass. I personally think that steemit could have a good platform for cyrpto, however the inequality are glaring (which is the reason I stop posting and only comment). This could be a post but as a post I would not make one steem from it, but to give an opinion on a very important subject, to me is worth the time. So, I understand that by this time the reply is a bit much! I will only make one more point. Someone once said to me that cyrpto are back by mathematics. I think I'll let a respected intellect reply to that for me.
Of cause this is just one man's opinion!
Oh! as far as cyrpto taxes " I am for a flat tax! So no to taxes on cyrpto's! Just a tax on all sales only!
Taxation is theft, my friend, and in economics, all value is subjective. Thus, by your definitions above--unless I am misunderstand something--everything is "fiat," as every single money, currency, or commodity ever known to man was first and foremost valued subjectively. Even gold.
Steemit definitely has its weak spots, but ultimately, it is a stake-weighted voting platform. In other words, it is built on inequality, in a sense. The difference between Steemit and a modern day nation state, however, is that participation in Steemit is 100% voluntary and consensual. No force is being employed here to coerce individuals to participate.
It's 100% morally legitimate, in that sense.
OK I can agree with at least one thing you said "Taxation (these days) is theft". As far as everything being fiat, I would say you are mistaken. I said human labor gives things there value that subjective or not the work has been done and the thing is given value . "valued subjectively" To put it more bluntly to equate ones labor to being less than a computer is a problem for me. And we see that problem more and more everyday with computers taking over in the work place. Now they want to do it to the one thing that kept society from braking down before 1933 and (as you must know) we have been on a downward spiral from the day that equity was removed from the system. And the farther they removed us from real things the worst it has gotten and will get. Steemit is built on inequality! OK my error there are two things I can agree with you on. However anything build on inequality is a perfect system for abuse. Which is why it took two days to reply, I just happen to stop by. We all have our opinions, I only come to steemit to find conversation on those things that really matter to our future and to me. I am never here to upset anyone, just to participate. Last thing about taxation. If you can stop taxation altogether it is true, I would have a problem with that. Not because I need it but (if done right) it could help those who could not have acquired a bit coin at 5 dollars much less 14,500 dollars! But then again what does a transfer of wealth matter to someone who can't even feed themselves. Believe me I am already aware that most people who will read this will say that I'm confused and that is there right. Truth be told the whole planet is a prison. But as Morpheus would say "you have a right to be enslaved!" It has always been "the hands that bring forth the commodities as the source of value"
ARE WE NOT MEN?
I think it will all end with the question, does a man labor have worth?
This is basically the Labor Theory of Value in action, no?
The market has shown time and time again, since the dawn of trading and exchange, really, that the LTV doesn’t hold water.
For example. I could put almost zero labor into bottling some water from a stream, and you could put a ton of labor into perfecting your recipe for, and making, a bottle of cola.
In the end, more than likely, I could still sell my spring water for more than your cola in many markets, regardless of the respective amounts of labor put in to making the two drinks.
If value is subjective, as economics says, then saying things can only have value in proportion to the labor used to create them is to deny basic economic principle.
I agree that the market can really hurt people’s feelings, including my own, but this doesn’t change the fact that this is how economics works.
What is your fair share of something someone else worked for or purchased? is what I would ask.
And as an aside, many of those folks who bought in early are helping those in need, and voluntarily, without state guns to their heads!
I’m with you brother. The world is sleeping and in many ways in a horrible state.
We can make it better though, as individuals.
I don't know or have any incite about the "Labor Theory of Value". There are always ( until we advance into a state of love) people who will out right cheat others that is basically the system we have, and that is part of the problem not the solution. It all comes down to Ethics, ie I could be someone who drop ships. A process were by I order a product for one dollar never see the product I order (other than in a picture) and advice the shipper to send it to someone who I have charge ten dollars for the same product. Have I added any value to the product? No! Is it legal? Yes! Is it ethical. Ethics is a personal matter, So I leave that answer to you. However to promote this type of behavior, is to maintain the path that we have been on for some time now. It is long pass the time that we grow.
My reply to that question would be, that share that the giver has allotted. But then that has more to do with community than government. But because government have related (in the minds of the people) community with communism and we all know how bad that is as a political system. We reject it. Our systems these days is not a system of shearing. It is a system made to keep us on the treadmill. Yes the world is sleeping in many ways. I have seen in many posts from people who state what they will, or have done with their cyrpto profits. However I have never seen where someone said I am "helping those in need". I'm not saying that it does not happen and maybe it's being done by more people than I think, I hope it is. Thank you for your reply.
I researched the theory you referred to and find it acceptable (In theory) , and fully understand why the system is not in use, but it is not what I was referring to at all.