this post was submitted on 13 Nov 2024
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Yup. Very well said. People don't realize the extent of wealth inequality (and how ridiculously resource intensive blockchain tech is). If anything important were to be decide by a blockchain, the top 1% would control the network.
More on wealth inequality here.
Today's inequality was created by the Cantillon effect.
What happened in 1972?
Soviet Union launched Venus-8
Automation, computers. It was the early '80s that the Australian tax office started automatic processing of tax, removing maybe 30,000 jobs