Bitcoin Forum

Economy => Economics => Topic started by: Geremia on July 04, 2019, 07:48:31 PM


Title: Bitcoin immune to capitalism / usury
Post by: Geremia on July 04, 2019, 07:48:31 PM
  • Usury "is to sell what does not exist (https://isidore.co/aquinas/summa/SS/SS078.html#SSQ78A1THEP1)."
  • "Capitalism is state-sponsored usury. (https://www.youtube.com/watch?v=hgf1B_2MgNg&list=PL-edc4nsbneXvnDvTsnDYlF7hip2OVdPU)" (cf. Barren Metal (http://culturewars.com/Reviews/BarrenMetal.htm))
  • Bitcoin is, by design, unable to perform chargebacks (https://en.bitcoin.it/wiki/Myths#Bitcoin_has_no_built-in_chargeback_mechanism_and_this_is_bad) or force collection of interest on loans (https://bitcoin.stackexchange.com/a/37853/4334), thus making usury within the blockchain (https://en.bitcoin.it/wiki/Blockchain) impossible.
∴, Bitcoin is immune to capitalism and usury.

Title: Re: Bitcoin immune to capitalism / usury
Post by: hatshepsut93 on July 04, 2019, 08:20:45 PM
Quote from: Geremia on July 04, 2019, 07:48:31 PM
  • Usury "is to sell what does not exist (https://isidore.co/aquinas/summa/SS/SS078.html#SSQ78A1THEP1)."
  • "Capitalism is state-sponsored usury. (https://www.youtube.com/watch?v=hgf1B_2MgNg&list=PL-edc4nsbneXvnDvTsnDYlF7hip2OVdPU)" (cf. Barren Metal (http://culturewars.com/Reviews/BarrenMetal.htm))
  • Bitcoin is, by design, unable to perform chargebacks (https://en.bitcoin.it/wiki/Myths#Bitcoin_has_no_built-in_chargeback_mechanism_and_this_is_bad) or force collection of interest on loans (https://bitcoin.stackexchange.com/a/37853/4334), thus making usury within the blockchain (https://en.bitcoin.it/wiki/Blockchain) impossible.
∴, Bitcoin is immune to capitalism and usury.

1. Getting interest on loans is perfectly normal, those who lend money are locking themselves out of spending their money for a long time + they risk losing those money, while those who take loans gain access to money they otherwise wouldn't have.

2. Capitalism is not usury, capitalism is freedom to do with your property whatever you want.

3. When it comes to Bitcoin loans, people generally demand a collateral and punish those who default on loans with red trust on this forum. In real life collectors could be employed to collect loans just like they do with fiat. If Bitcoin will get more widely adopted, Bitcoin banks will start becoming a thing, want it or not.


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