I keep pointing out that Bitcoin PoW mining based system is not a Capitalist system at all.
I know that you guys think its pure Capitalist system because you associate Capitalism with competition, but this is wrong. Competition is not tied to any specific economic system, its not tied to Monarchy or Slavery or Feudalism or Capitalism or State Capitalism or Communism, competition is natural thing and exists in all of these systems... every single one, so Capitalist is not based on competition at all, all it is based on, are 2 simple rules, which are hidden in plain sight because of all the massive amount of propaganda about it, to make it look like as something what its not, in this case... competition.
1st rule of Capitalism is that production (business) is privately owned
The owner(s) are what is called capitalists (capitalism is not ideology, its not personal belief and unless you own a business in which other people work in, you are not a capitalists, even if you like the system, for whatever reason. You are a capitalist if and only if you are the owner of a privately owned business in which other people work for you.
2nd rule of Capitalism is that capitalist is the central decision making power
This means that capitalist system of production is actually a centralised system. Yes, you read that right. Every person who sees Capitalism as decentralised system is getting it wrong, as I am sure they/you are looking at all businesses, thinking about all businesses combined as the system itself, but this is wrong, this system exists in each and every business, not as a whole.
In fact you can (and we do) have different economic systems used in same country/nation right now... we have capitalist businesses, we have state capitalist businesses, and we also have, believe it or not, Communist businesses, but I know you can't recognise them because you don't understand what makes a business belong to either of these economic system types... and this is because of lack of understanding, which is due to propaganda you've been under your whole life.
Competition is not and cannot be rule of the system, it can however only be enforced (fair competition that is) through law, but law in Capitalism can't enforce this because it would mean the state would be dictating the capitalists what they can or can't do, and this is against the very core design of Capitalism.
PoW is actually a Communist system, not Capitalist because:
- Each and every blockchain is a production line (sort of) because each blockchain produces different "product" (blocks & block rewards are what creates the digital money, ie "coins").
- Each and every blockchain is like a business, and each and every blockchain that uses open source PoW system (which Bitcoin system uses) is not owned by anyone, which means it is not a privately owned means of production, which means by very definition of Capitalist business, it cannot be Capitalist business or using Capitalist system.
- Each and every blockchain can be mined by anyone, and rewards go proportionally to those that do the work of mining, which makes the miners equivalent to WORKERS, and all of these workers are not working for anyone else but themselves, which also means no one is working for them... and they all work as worker cooperatives, which is exactly what Communist system is all about.
In Capitalist system the owners get the rewards, rewards do not go proportionally to those that did the work, if this was the case, the owner would not be getting profits at all, and if the owner did do some work, whatever proportion of the total work he's do, it would not allow the owner to get rewards from work of others.
Capitalist system, same as Feudalism and Slavery, just different flavor of the same system, is designed to have already wealthy people, people/families who got rich in the past, to use their wealth to just own businesses/factories and use work of others to make money.
This is what "Money makes more money" mantra of Capitalism, is all about.
This is literally what PoS system does but not PoW based system. Do you get it now?
So, I'm sorry guys, but almost everyone in crypto, BSV included, are yet to understand these things. You are all still few levels away from understanding the very last (core) layer of the Bitcoin onion ;-)
And of course, those who like to, or already do, use this system for their benefit (to get wealth not from their own work but work of others) will never admit to this.


1 of 1 reviewers say it's worth paying for

0 of 1 reviewers say it's not worth paying for
  earned 0.0¢
I also want to point out to everyone that whatever you think and whatever I think about what Bitcoin system and PoW is all about, what system of production is based on, it does not change the Bitcoin system PoW itself.
I am not trying to make anyone change anything about the Bitcoin PoW system at all, what I am trying to do is to make you all see that your understanding of this system is wrong because it is based on wrong definition of Capitalism itself, but also about Communism... an reason you don't know what Communism is, is for the same reason you don't know what Capitalism really is... its because you grew up in one sided society, driven and controlled by the Capitalists (top richest Capitalists of course, not the little guys owning some small business or even a medium size business)
Just look at what CIA director said... just more pieces of the massive lie you've been living under your whole lives...
I've also mentioned before that CIA is literally formed by top Nazi officials that fled Germany at end of WWII, and US gave them refuge... doesn't this make you wonder WHY? And remember that Nazis were literally also funded by US/UK bankers, and US industrialists traded with them, even during the war... but of course population in western capitalist world, especially US are completely clueless about these things... again, ask yourself WHY you were never told these things?
   1yr ago
  earned 0.0¢
Thanks for your article friend, it's really interesting to quote this:
In an increasingly global world, where societies are solidly interpenetrated with technological tools and the digital world, it is not uncommon to conceive that distributed accounting technologies can break through and transform various political, social and economic sectors around the world. balloon.
Capitalism will fight hard, so as not to make the bitcoin triumph. But we're still struggling. I'm working on a platform called Weku. I invite you to investigate ... My respects.
   1yr ago
  earned 0.0¢
Did you ever stop to consider that YOUR understanding of capitalism might be wrong Ed? It really seems like there are thousands of highly intelligent people who disagree with you and only yourself who maintains this seemingly ludicrous position.
   1yr ago
  earned 0.0¢
Much of what you say is plain wrong, for example that you are only a capitalist if you own a business. This is garbage, anyone who engages in the sale of goods or services is engaging in capitalism whether they own the company or not. If you go to work for a company, you are engaging in capitalism because you are making a financial gain by trading your labor for something that is worth more to you than the labor. Just one example of things you say that are fundamentally incorrect.
   1yr ago
  earned 0.0¢
@poorbrokebastard nope, my understanding of Capitalism is spot on. It is yours, and everyone else's that is wrong because you can't even distinguish the difference between trade and production. Capitalism is system of production, not trade. Trade existed long before Capitalism but you are all too stuck up in the brainwashed definitions that Capitalist system brainwashed you into.
You are in fact a Capitalist IF and ONLY IF, you own a business and have other people work in it as your workers (wage earners). Capitalism is not ideology, its not trade, and the only ideology behind Capitalism is exactly the same as with every other exploitative economic system (and let me repeat, economic system is system of production, not trade) which is to have one class of people be able to exploit work of others. That's all there is to it.
When October Revolution happened, it was the first time in human history that workers rebeled against their exploiters (Monarchs and Capitalists), which is what made the Capitalist west and remaining European monarchies, create both world wars (in case you didn't notice, in both these wars it was the Russians that were attacked by the west, not the other way around, and same with Cold War, to this day as well) because the rich class of fucking Monarchs and Capitalists didn't want the workers in their nations rebel against them as well, which is why the west always attacks Socialism and Communism, labelling it as evil and other shit, and people in west are brainwashed enough to fall for it, but now, the Capitalism in its late stages has gotten people in the west also, pushed into a corner, and people all over the world are starting to see that Capitalism is the underlying problem... and the very reason everything is corrupted and all the wars going on decade after decade.
So no, I am not wrong about this at all.
The whole human history is one same struggle of economic classes... the rich exploiting the poor/workers and Capitalism only accelerated it.... and Capitalism is in its last stages... this system is not sustainable... same as monetary system, which is based on exact same fundamental principles... to have the masses exploited and kept poor, economic slaves.
Communism to Capitalism is what Bitcoin is to Private Central Banking & Fiat system, Communism is only true decentralised economic system, and Bitcoin is only decentralised monetary system... and only once you understand this, can you understand the whole society and what has been happening past 2 centuries.
PS: Think about what you are saying when you say thousands of intelligent people say otherwise... and ask yourself this: How many people figured out that Earth is not flat? Why are intelligent people correct? Many are intelligent in one thing but not in others, and there are different forms of intelligence. Are criminals intelligent people? Are corrupt politicians intelligent people? Also did you ever think that all those people who write those books and say these things, are part of the same system?
Have you ever listened to economists like Richard Wollf? Have you studied Communism and Marxism at all? Have you ever questioned the things you heard and red in some book? Does it actually work the way they say it works? I mean, juts look at BTC or BCH, they now both don't work as Bitcoin, yet those intelligent people claim it is Bitcoin... and they are all wrong no matter how intelligent they are.
What makes you think what kind of "educational system" you have in the west when someone who studied in top universities, got Degree, Masters and PhD in economics, was never even required to study Marxism and Communism?
Such educational system would be called a disgrace in former Yugoslavia, or Russia or any east European country (maybe now as lot of them got under control of the Capitalist west, changed, as I know the books change as masters come and go... just look at any history book of WWII you will see not one points out that Capitalists funded Nazis, not one says that they fund terrorism today... why? BECAUSE ITS ALL ONE BIG FAT LIE CREATED BY CAPITALISM.
   1yr ago