How cryptocurrency (Bitcoin etc) is turning socialism against itself


Thing is socialism always implodes eventually and in proportion to the amount that it is embraced. But if Bitcoin can help it along that’s a good thing.

It should also be noted, because it has been a while since we have, that crony capitalism, “fascism (generally) lite,” is a form of socialism.

(From Reason)

He read about it on an Argentinian gaming forum. An item posted to the site described a process of getting paid in a new internet-based currency denominated in strings of numbers and letters, in exchange for running computations on a home computer. His parents said that the whole thing sounded like a Ponzi scheme. Alberto, however, sensed that his life was about to change.

Four years later, his country is embroiled in a humanitarian crisis. The supermarket shelves are bare. Children are fainting from hunger in their classrooms. A mob recently broke into the Caracas zoo to eat a horse. Many Venezuelans subsist on a monthly government stipend equivalent to about $9.

Alberto, meanwhile, based on his own account, is earning more than $1,200 a day mining bitcoins and other cryptocurrencies.

I hope that “Alberto” has hightailed it to Costa Rica by now.

Click here for the article.