/leftypol/ - Leftist Politically Incorrect

Communists aren't terribly interested in creating speculative commodities. You see, communists hate capitalism and their general mission is to eliminate the various processes of capital accumulation–that includes finance capital and the speculation economy that goes hand-in-glove with it. Unfortunately, speculative commodities is all crytotokens will ever be without a state using them for taxation. But let's say a state did in fact allow people to pay their taxes with a cryptoken, and thus transform it into a stable currency? Once you are again dealing with an actual currency, why then force it to be digital like a cryptotoken? So you can make it easier to track people's purchases, control what they're allowed to buy, and waste a ton of energy on some stupid hashing algorithm to "back" your digital token?

The whole thing is for gullible fools impressed by Ponzi schemes that use math they can't understand.

>493950

When Satoshi Nakamoto invented the cryptocurrency, he intended for it to be used like real money.

You see, crypto was never intended to be a stock option. It was a way to put the currency exchange in the hands of the people and not the state.

Satoshi Nakamoto hated how the banks, institutions and the governmemt controlled money.

And besides, if it wasn't real money, then what the hell is El Salvador doing?

The belief that it is a ponzi scheme is a result of a fundimental misunderstanding of crypto itself. I would recommend Luke Smiths videos on it for educational purpouses.

>>493951
>When Satoshi Nakamoto invented the cryptocurrency, he intended for it to be used like real money.
1) You can't even prove Nakamoto is a real person.
2) if "he" actually intended bitcoin to be used like real money, then he was an ignorant neoliberal-propagandized moron who didn't have any grasp of how money functions in the real world

>hated how the banks, institutions and the governmemt controlled money
Too bad, governments and money are inextricably linked. Don't like what a government is doing with money? You're going to have to take over the government. Luckily communists do plan to control a government, and when they do they'll have no need to allow a black market of commodity speculation to exist alongside the real economy.

>what the hell is El Salvador doing?
Being a basketcase banana republic as usual. Do you think some filibusters taking over a small Latin American country to facilitate their Ponzi scheme actually proves something? The presidents of Argentina and America have both abused their positions to dupe gullible idiots in crypto scams now, does that magically make their special snowflake cryptotokens more legitimate as money?

>I would recommend Luke Smiths videos on it for educational purpouses.
I would recommend you read a fucking book on the empirical realities of currency. Try this one.

>>493947
Have you read "Towards a new Socialism"? It describes how a cyber socialist economy would work using what he calls "calculation in kind", which basically equates money and time.

What we call "crypto" is really just a consensus algorithm, it's one of the tools in the toolbox for building distributed computer systems. It may or may not be applicable to building a socialist economy.

>>493951

It is really funny almost sad that people in the crypto space are so ignorant.
First of all, bitcoin is less private than even the scam paper money that central banks have imposed. Just search the huge blockchain of bitcoin and with some effort you can find the IP and other important data from the transactions that people make.

You really, have to ask a question to yourself. Would bitcoin be so popular even for people like president Trump if it really was an anti-system currency?

The answer is of course no. The only real private and reliable at this moment and day cryptocurrency is Monero and that's why it is banned from most exchange platforms.

On the other hand, in an ideological level, communism is all about the destruction of money because it creates inequality. In my opinion, search for alternatives for your finances preferably gold but at the same time remember the final goal.

>Crypto was intended to act in X way!
TOO BAD BITCH! The forces of the market make it act the way it does! You can stamp your feet and hold your breath until you turn blue but that won't change the fact that systems act the way that they act in reality, not how they're intended! Exorcise that liberal idealism from your skull.

>>494279
How do I get Monero then?

t. Newb