Bitcoin Forum

Is it not inevitable that cryptocurrencies will doom all socialist states to certain collapse? What happens when social wellfare takers and poor People realize they can stop paying off their debts and buy cryptocurrency for all their Fiat? When the light goes up for more and more People that the crash is around the corner everyone will rush to CC's and stop caring about fiat-debts.



 :o

Don't confuse socialism with so-called social programs in the so-called liberal societies.

Actually, cryptocurrency is just another implementation of socialism in action. ::)

Bitcoin and Cryptocurrency is perfectly compatible with the original meaning of the word "Socialism", which means workers to be in control of the means of production.

Big centralized welfare states always collapse sooner or later with or without Bitcoin because they're fragile, as opposed to a society of decentralization and self-organisation, of single entrepreneurs and worker collectives, which would be antifragile (https://en.wikipedia.org/wiki/Antifragile).

Yes, but not a socialist economy. The Whole idea is built upon this:


Unemployed/sick People get wellfare

Unemployed spend this Money in the economy

State and big Finance gets back a huge % of the spent Money

Unemployed can get wellfare again




With Cryptocurrencies:

Unemployed gets wellfare

Unemployed don't want to Waste Money on taxes and bank fees so he puts it into Bitcoin

State gets 0

Unemployed gets wellfare, on the full expense of the state

When it comes to economics I find things usually aren't so cut and dry.  In my opinion alot of unknown variable need to be taken under consideration.