LJ Articles| 5/09/2021 | #12

Satoshi Marx-amoto

by Lorimer Jenkins, y.at/⌛🚀💎🙌

What is Communism ?

“Communism is a political and economic system that seeks to create a classless society in which the major means of production, such as mines and factories, are owned and controlled by the public.”

Really the thing I’m focusing on in that paragraph is, “owned and controlled by the public.” We can see from old communist systems it leads to totalitarianism, political repression, restrictions of human rights, poor economic performance and cultural and artistic censorship.

I worry that Crypto will just replicate this in one huge re-branded cycle. Crypto proposes to be the people’s money, but in order for it to be that way, we have to have serious conversations about how we want to build out this ecosystem.

For example with new PoS blockchains it proposes a challenge as the way these protocols are built allow the person with the most money to rule over what happens. At least with centralised systems.

The biggest smoke screen Crypto will see yet :

CBDC’s (Central Bank Digital Currencies) could be a marxist ideology to just re-brand central authority. Be aware of everything that is going on as Communist nations aren’t all sunshine and rainbows. And what we are doing here isn’t creating one nation. We are creating a Communist world, we need to re think this spaces future.

I hope that Crypto can find a way to prove this article wrong but it looks like we have a slim chance of creating something brilliant here. Maybe the fact we will be using Decentralised systems while other nations used centralised systems will mean this is different.

But I do think we need to have a serious discussion on the future of this space and not just play it by ear.

It is still the case that the only asset that is even close to becoming what we need is still Bitcoin.

by Lorimer Jenkins

y.at/⌛🚀💎🙌

Disclaimer : I am not a financial advisor these articles for education purposes, new articles released by 12pm BST every day.

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