It is sad how this person is giving off of "cryptocurrency" because the answer to most of his complaints is... a cryptocurrency, if not, THE only cryptocurrency worth mentioning here.. Which is Bitcoin of course.<p>> <i>After years of studying it, I believe that cryptocurrency is an inherently right-wing, hyper-capitalistic technology built primarily to amplify the wealth of its proponents through a combination of tax avoidance, diminished regulatory oversight and artificially enforced scarcity.</i><p>Nonsense, if I bought old-school gold or silver coins I could dodge taxes just as easily.
"Artificially enforced scarcity" is the whole point of Bitcoin... If you like money that can be printed out of thin air, just used the Zimbabwe dollar ha ha.<p>> <i>Despite claims of “decentralization”, the cryptocurrency industry is controlled by a powerful cartel of wealthy figures who, with time, have evolved to incorporate many of the same institutions tied to the existing centralized financial system they supposedly set out to replace.</i><p>Like I said, most "crypto currencies" are scams, Bitcoin does not have the stated above drawbacks.<p>> <i>The cryptocurrency industry leverages a network of shady business connections, bought influencers and pay-for-play media outlets to perpetuate a cult-like “get rich quick” funnel designed to extract new money from the financially desperate and naive.</i><p>Same: Bitcoin does not have these drawbacks... other shady "crypto's" unfortunately, do.<p>> <i>Financial exploitation undoubtedly existed before cryptocurrency, but cryptocurrency is almost purpose built to make the funnel of profiteering more efficient for those at the top and less safeguarded for the vulnerable.</i><p>This is a Cold War propaganda tactic: he is saying the OPPOSITE of that is true... Bitcoin helps people who are to poor to have access to a bank account have access to something even better: sound and nonconfiscateable money, right on their mobile devices. Look at the new legislation in Paraguay.<p>> <i>Cryptocurrency is like taking the worst parts of today's capitalist system (eg. corruption, fraud, inequality) and using software to technically limit the use of interventions (eg. audits, regulation, taxation) which serve as protections or safety nets for the average person.</i><p>Again, Cold War tactics by spinning the truth upside down... How much more transparency and audit-ability then in a PUBLIC ledger (blockchain) could you possibly want? Again, this is standard in Bitcoin.<p>> <i>Lose your savings account password? Your fault. Fall victim to a scam? Your fault. Billionaires manipulating markets? They’re geniuses. This is the type of dangerous “free for all” capitalism cryptocurrency was unfortunately architected to facilitate since its inception.</i><p>Again, Cold War "spin the truth upside down" tactics here.
How many bankers, brokers and traders went to jail after 2008? I believe one guy, in Iceland... So the <i>old system</i> is shielding corruption, not the new system.<p>About losing acces to your bank account? Tell that to the people of Cyprus or Greece, where the government decided to do a "haircut" which is in Orwells street of language mis-use... It means they confiscate parts of your savings without you doing anything wrong at all!