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Equality

By Craig Wright | 15 Sep 2018 | Economics

Some argue that capitalism fails as it does not lead to equality. That is a fallacy we need to avoid. The only equality we can achieve is one of equal destitution and even that would be one beyond us. We are all equally poor and suffering or we are unequal.

 

This is a reason that there is a division in Bitcoin. A few believe that Bitcoin needs to be maintained equally and that we should hold back development to ensure this.

Why, how could this be you ask?

Easy, we are not equal. We are not born equal. We do not remain equal.

No two people have the same level of intelligence, the same aptitude and nor do we have the same proclivities.

We’re not a Tabler Rosser.

People are not a blank slate.

Some of us are born communicators. Some are good in mathematics. Some of us like to code. Some enjoy fitness and outdoor activity and others would rather sit in front of the computer and develop computer programs.

Just as we cannot take a 5 foot one man and make him an NBA star, we can easily not change those people who are NBA stars into things they are not.

We exist in a world of diversity. This is our strength as humanity. Where one person or one group earns more than another it is because in an open market they have services that are desired more.

As far as employment goes there reasons for this. This is a lack in one field that is not being fulfilled by the people within it. Wages are high in an open market as there is a scarcity. When there are high wages others are attracted to this field. This is the natural equalizer.

We do not require government intervention to achieve this equilibrium. We just need a free-market without intervention.

We need to stop thinking that those who have less cannot achieve themselves. We need to recognize that people from both wealth and from poverty can achieve or fail. We need to allow people to fail for this is how they learn and develop.

We are not equal, we cannot be equal, and it is a fool’s quest to seek equality. The only equality is an equality of misery.

In making a richer world where all people have enough and can survive we create a world with divisions. Until we accept this all we do is make more suffering.

You do not have a right to run a “full verification node” as this is not a part of Bitcoin as a system. You have the right to pay the costs of running this system. You can choose to invest if this is of value to you.

It is time that we start to scale Bitcoin and to do this, it is time to stop thinking that we need to subsidise those wanting to run a node.

 

Bitcoin is capitalism. Get used to it.

Sorry. Bitcoin scales and that alone is what delivers value. As money, as a system to deliver P2P electronic cash to the world, Bitcoin is important. So, no, you do not have a right to limit the growth of Bitcoin, to stop others from using Bitcoin just as you want to have a falsely romanticised idea of running a node at home.

 

It was Keynes who started the Moon myth. The myth of those seeking the thesis of infinite money. And, it is the moon myth in Bitcoin that is Keynes.

Bitcoin is not socialist and it is time to see that it is money, not for green cheese and Lambo’s, but as global cash.