Are cryptocurrencies creating a single world caste system?

[kthejung]

Is the system of cryptocurrencies helping to create a world caste system?  Caste systems or class systems have always existed in all organizations but the biggest exception has been the cultural, regional, monetary boundaries that existed between nations that prevented a person from easily hopping from one society to another and being excepted as the person within the same class (i.e.: a lawyer from one country moves to another and becomes a janitor due to different national laws and language).  By the way, I am not dissing janitors; I know a few who have worked their way to own their own janitorial businesses and are now millionaires.  English is widely becoming a world language.  Cultural boundaries are becoming thinner due to a growing population of international relocation and ...Youtube.  The last factor of this world-merge is a world currency.  It seems as though Bitcoins are becoming the first-world currency with other cryptocoins filling out other monetary values around the world.  I see this world-merge as neither good or bad.  A worldwide caste system would mean that the hope of moving to another region on earth to change one's position of life would be diminished, though changing one's position in life through hard work, education, and luck would still be possible.  A merged world would mean less wars but of course murders and other human ugliness would still exist; more people may also be on prescriptions such as anti-depressants and etc.  So why am I writing this?  Probably because I'm drunk.

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[franky1]

unless bitcoin miners demand less transaction fees. then people trying to gather dust from faucets wont be able to start, or trade it much.

and only the guys moving 100's of coins would do so, because to them the fee's are 0.000001%

but for daily users wanting a 50c pack of gum. or in thailand a 40bhat beer the fee is about 2%-5%

[hellscabane]

I don't necessarily see it as a caste/class type of system. As long as exchanges and intermediaries exist between bitcoin and altcoins (with percent based exchange fees rather than flat exchange fees), I don't think it'll cause a financial schism effect as you're proposing. But I can imagine certain parts of the world being drawn to different crypto-currencies.

[Beliathon]

The socio-economic caste system was here LONG before cryptocurrencies.

Thanks, capitalism.

[kthejung]

The socio-economic caste system was here LONG before cryptocurrencies.

Thanks, capitalism.

True, but cryptocurrencies may aid in combining all different caste systems to create a single caste system applicable to the entire world.  Which is neither good or bad, in my opinion.

[Beliathon]

True, but cryptocurrencies may aid in combining all different caste systems to create a single caste system applicable to the entire world.

Don't know what the hell you're talking about, but capitalism is already a worldwide socio-economic caste system. And again, it has been this way for a very long time.



Cryptocurrency is our first chance since the adoption of capitalism at changing this paradigm, do you understand?

This is the most exciting time we could possibly be alive. We will see more social evolution in the course of the next decade than we have seen in the previous five decades combined.

By comparison, even the internet is mere entertainment, child's play.

[Bit_Happy]

unless bitcoin miners demand less transaction fees. then people trying to gather dust from faucets wont be able to start, or trade it much.

and only the guys moving 100's of coins would do so, because to them the fee's are 0.000001%

but for daily users wanting a 50c pack of gum. or in thailand a 40bhat beer the fee is about 2%-5%

There is a legit use for alt coins:
Super-low transaction fees.

[twiifm]

True, but cryptocurrencies may aid in combining all different caste systems to create a single caste system applicable to the entire world.

Don't know what the hell you're talking about, but capitalism is already a worldwide socio-economic caste system. And again, it has been this way for a very long time.



Cryptocurrency is our first chance since the adoption of capitalism at changing this paradigm, do you understand?

This is the most exciting time we could possibly be alive. We will see more social evolution in the course of the next decade than we have seen in the previous five decades combined.

By comparison, even the internet is mere entertainment, child's play.

Why would bitcoin change capitalism?   Its just a proposed currency.   Not a economic system unto itself.

Decentralized banking and deflationary (gold backed) curency are pre Modern.   Didn't work back then so why would it work now?   Study the history of money and banking and you'll see

[Bit_Happy]

Don't know what the hell you're talking about, but capitalism is already a worldwide socio-economic caste system. And again, it has been this way for a very long time...

True free-market capitalism has NOTHING to do with today's conditions, since we do not have free-market capitalism.

[BitOnyx]

Right now there are institutions that taking high fees from little people. I don't think income difference is same thing as cast system. For cast system you need to regulate it by law and execute it by force. I looks a bit like it in US since bankers get money from government from taxes of little people and little people get completely ignored after mass protests around the country. It was regulated by law in some way.

Altcoin and bitcoin will make bank system much weaker.

[hellscabane]

Right now there are institutions that taking high fees from little people. I don't think income difference is same thing as cast system. For cast system you need to regulate it by law and execute it by force. I looks a bit like it in US since bankers get money from government from taxes of little people and little people get completely ignored after mass protests around the country. It was regulated by law in some way.

Altcoin and bitcoin will make bank system much weaker.

Yes, crypto-currencies will put the bank system on their heels. Although I'm not sure if it will make the system significantly weaker if banks somehow adopt bitcoin vis a vis new regulations/laws. But it is definitely true that bitcoins provide a chance for most people to leverage an advantage that the larger banks enjoy.

As a side note, income parity is not the same thing as a caste system (like you said). However, most caste systems were not regulated by law and executed by force. Most of the time, they were done via societal pressures and the laws were just codified to justify the established castes.

[r0ach]

It seems you have accidentally stumbled upon Bitcoin's purpose for existing.  It's been known for a long time that the USD as a world reserve currency isn't sustainable and will implode.  Bitcoin is being allowed to exist as a eugenics program where people who are somewhat likely to be able to contribute to society are being given bus passes to the next stop.

[IrishFutbol]

Right now there are institutions that taking high fees from little people. I don't think income difference is same thing as cast system. For cast system you need to regulate it by law and execute it by force. I looks a bit like it in US since bankers get money from government from taxes of little people and little people get completely ignored after mass protests around the country. It was regulated by law in some way.

Altcoin and bitcoin will make bank system much weaker.

Yes, crypto-currencies will put the bank system on their heels. Although I'm not sure if it will make the system significantly weaker if banks somehow adopt bitcoin vis a vis new regulations/laws. But it is definitely true that bitcoins provide a chance for most people to leverage an advantage that the larger banks enjoy.

As a side note, income parity is not the same thing as a caste system (like you said). However, most caste systems were not regulated by law and executed by force. Most of the time, they were done via societal pressures and the laws were just codified to justify the established castes.

If BTC ever becomes mainstream, it'll be because the banks put it there.

Any currency in our current economy cannot be sustained without large banks.

[Polycoin]

The socio-economic caste system was here LONG before cryptocurrencies.

Thanks, capitalism.

True Dat.

[Beliathon]

True free-market capitalism has NOTHING to do with today's conditions, since we do not have free-market capitalism.

Your mythical "free market" capitalism is like Atlantis: It has never existed, and will never exist, because markets imply coercion, and coercion is antithetical to liberty.

Michael Albert will explain. He begins speaking 90 seconds into this video: http://vimeo.com/4041228 - Recommend watching for 10+ minutes.

[jbreher]

markets imply coercion, and coercion is antithetical to liberty.

Free markets do not imply coercion. Exactly the opposite. Free markets involve nothing but voluntary exchange.

Michael Albert will explain. He begins speaking 90 seconds into this video: http://vimeo.com/4041228 - Recommend watching for 10+ minutes.

I watched ten minutes. All I got was the guy explaining some microeconomic aspects of a single exemplar enterprise organized as some 'workers council'. I know several businesses organized in this manner working within our current capitalist (admittedly crony capitalist) system. I don't understand -- what's your point?

[Beliathon]

Free markets do not imply coercion. Exactly the opposite. Free markets involve nothing but voluntary exchange.

Such astounding naiveté. Your cup is full. Empty it. I'm afraid I cannot teach you any truths about capitalism until you have prepared your mind by unlearning the myths you have believed your entire life.

This is no small feat my friend, it is damn near equivalent to a theist unlearning religion. I wish you luck in this intellectual journey, as it will surely be forced upon you in the decades to come.

P.S.
If you haven't found ten minutes enlightening, consider watching beyond ten minutes. It is a two part series with a full three hours of lecture and discussion. Here is part 2, if you ever get there.

[justusranvier]

Is Bitcoin attracting enough concern trolls to create its own singularity?

[jbreher]

Free markets do not imply coercion. Exactly the opposite. Free markets involve nothing but voluntary exchange.

Such astounding naiveté. Your cup is full. Empty it. I'm afraid I cannot teach you any truths about capitalism until you have prepared your mind by unlearning the myths you have believed your entire life.

How do you propose I 'unlearn the myths' without you providing any actual information?

Or do you think that a drive-by firebombing equates to an argument?

eta: you have failed to address the point that your suggested ten minutes of your linked video failed to add any value to this discussion.

[Beliathon]

How do you propose I 'unlearn the myths' without you...

Become your own teacher, and you will answer your own question. Were you not born a curious creature?

Truth is all around you, all you have to do is take off the blinders of indoctrination. No, this will not be easy. It will be slow and painful, and in the end you will be consumed by furious compassion.

I have no illusions that I can convince you of anything, this is after all an internet forum. I'm only here to plant seeds of doubt, in the hopes that a few readers will nourish them and allow them to grow.

Resistance to change and fear of the unknown is perfectly normal. All I ask is that you recognize fear when it arises in your mind, and do your best to route it out. Once the fear is gone, only truth remains.