690 karma · joined November 4, 2010
[ my public key: https://keybase.io/gregp; my proof: https://keybase.io/gregp/sigs/QgiIp98x2U7msN3u5ALaQ3QN24GIIjLHJKrbs7su73E ]
The bitcoin payout (which goes to the miner of a block) gets predictably smaller over time.
So no, this affect does not increase expected transaction time.
Goes to show how little faith we all have in our institutions of so-called justice.
It would appear to me that if that quantity is actually increasing, then this is an interesting curiosity and alarming in that we don't understand it, but not actually an outright disaster, as the pie would still be growing fast enough to feed labor more in real terms.
Rather, I prefer the more direct Advaita Vedanta approach: quickly smother it with napalm.
Participating in this marketplace would be somewhat like voting, except it would have a tangible effect.
This would allow thought to proceed on pure merit, rather than social proof.
One possible answer is that communicating on the internet requires the use of a physical commons, which one could reasonably argue carries either innate restrictions or restrictions legitimately imposed by the owners of said infrastructure.
It's just a segmented capital super-structure, rather than a traditional corporate system.
Then we have a greater incentive to automate and deprecated the immorally unfulfilling jobs.
It is human physicality and desire that creates necessity. When humans are freed from servitude under other humans, their own passions are able to flourish.
A proper basic income is fucking trivial to implement. Give every member of society X amount of money per T time period.
This has nothing to do with socialism. The means of production do NOT change ownership.