alt Hacker NewsThe financial system being under government control is the only proposition consistent with reality.
We, the people, make the rules. Replacing our democratic processes with finance controlled by the one with the most computing power, control of the software, or having horded the most of the tokens, is in no way desirable or realistic.
Even if the proposition wasn't borderline idiotic in the first place, there is no clear explanation how such a system should reward early adopters and allow them to cash out at a profit many times exceeding inflation.
It's all a scam.
Replies
> We, the people, make the rules.
Since when? We merely vote for politicians who promise to enact laws and regulations that are beneficial for us but they almost universally fail to do that, succumbing to self-interests and corruption.
If a government implements authoritarian measures that curb our freedom in an unpopular manner, "we the people" can't do anything about it. In a few years we may or may not vote them out, and the people who replace them may (or may not) do what we, the people, want.
I'm gonna first of all disagree with the notion that our entire democracy rests on control of the financial system, secondly point out that you seem to make some wild leaps about how decentralized currencies work, and thirdly ask how the hell you're getting the idea that early adopters would need to be "cashed out at a profit many times exceeding inflation"(Participation in the new system is the point of adopting it, how is this unclear).
Finally:
If you truly believe that, you are (and I realize this is not the level of discourse I should strive for on HN) beyond redemption.