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RE: The Left-Wing Case for Cryptocurrencies

in #cryptocurrency7 years ago (edited)

@louisthomas I completely understand why you would want to support cryptocurrency as it is a move towards decentralization of banking. You oppose the centralized corruption of the banking systems and want a more democratic system. That makes sense. However, I am curious...

Why have you chosen socialism as a philosophy? Socialism, being "governmental ownership and administration of the means of production and distribution of goods", is that not the centralization of economic power you didn't want?

Under our current system in the US, banks have had to acquire and wield that power behind the scenes, with indirect control. Under socialism, the government would wield that power absolutely and with direct control. Isn't that the opposite of what you want?

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