RE: Bitcoin: the currency of an ideal Communist economy or the nightmare of capitalism?

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Bitcoin: the currency of an ideal Communist economy or the nightmare of capitalism?

in bitcoin •  6 years ago 

It seems you don't understand the philosophical basis of Bitcoin, which is Austrian economics. Bitcoin is based on the principle that everyone has the right to his own property, which cannot be collectivised or confiscated by the government. That's the whole concept of peer-to-peer money. Moreover, Bitcoin allows for wealth inequality, as Bitcoin will never be "redistributed". Rather, there will always be some people who are Bitcoin rich and Bitcoin poor. That's based on the Pareto principle. Bitcoin is, if anything, the opposite of communism.

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