/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.