RE: Cryptocurrency: The Haves And Have Mores

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I'm more interested in the economic system that arises from it. If cryptocurrancy removes the haves and have nots then capitalism can not exist.

The issue with poverty is that it is needed in a capitalistic society. If everyone is rich and well off then that means no one is poor and in need for employment. Without the unemployed then capitalism has no Labor to access.

Job offers would end companies as there wouldn't be a pool to recruit from.

Poverty further creates a bottom line financial indicator. Shops need to factor in poverty in their price listings. If no one is poor then prices are higher because more people can afford them.

It will be interesting to see what comes next, should cryptocurrancy become a dominant financial sector.

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The challenge I see with this viewpoint is that it is locked in to only what we know yet misses a lot of what took place without us noticing.

For example, in the US, even many homeless people have a smart phone. Decades ago, this was only for the affluent. Yet here is something that most everyone has and uses regardless of income or wealth status.

So while they are still poor, they have the same access as everyone else.

If this extended beyond to food and other necessities, would it change the economic system at all? Obviously smart phones did not.

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I remember when I was working on Ask Izzy this was a topic brought up. 86% of homeless people have a smart phone.

We delved into it a little but not much, I think it has alot to do with tech companies making an accessible product in their development and marketing. Their goal was to put a phone in everyone's hand.

I found it odd that companies could do this with a product but not food.

But the topic got really messy as there is alot that is involved in it.

But yes I see your point. I wouldn't mind exchanges having the ability to use gift cards as payment. I've tried a few times with the few I have. They won't take it. But then that leaves the sector open to tax rorting and anonymous purchases and wealth development.

Crypto isn't that anonymous though. Just more risky.

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