Like cmon now. Isn't that the inevitable progression? And if so, doesn't that mean these folks who insist upon separating state from money just want to become the ruling class?
I dunno. That's just how it always comes across to me.
- https://subconscious.substack.com/p/centralization-is-inevit...
The question is, do you want it to be controlled by rational actors seeking to exploit everyone else, or an organization that has potential for other (maybe even altruistic) motives?
It's a fundamentally contradictory world view, of course. You cannot have cosmopolitan financial capitalism without very strong states propping up an extremely unnatural global order. But you can understand how middle-wealthy tech people ended up there. They were self-made, annoyed with taxes, and primarily held wealth that was generated without geographic ties. This is opposed to traditional middle-wealthy folks, whose revenue streams were historically closely tied to place and/or community.
Now that the End Of History is over, the contradiction is laid bare, and the reaction has been a sort of ideological immune response triggering fever dreams that are increasingly absurd and desperate (metaverse, web3, NFTs).
The majority of people on Earth live in countries which are considered corrupt & incompetent and have regular bank crashes. It would be a good thing if we remove control of money from corrupt governments.
It’s not worth boiling the oceans for.
But even so, crypto was never really about the poor and unfortunate.
Crypto is about pure greed. Money. Tax evasion. Don’t tell waffle stories about people in other countries please. It was never about them. Be at least honest.
Ethereum and PoS is no longer energy intensive.
If you allow for fiat money, then almost definitionally, there's a state that everybody agrees is empowered to create the money or else, why would they continue to ensure the value of money?