yash on Nostr: The Celsius bankruptcy debacle shines a light on why strong property rights are ...
The Celsius bankruptcy debacle shines a light on why strong property rights are necessary in a functioning democracy.
A plan was proposed to give 85% of the smallest holders 70% of their money while trapping the top 15% in a company they did not want to be part of. Customers are going to vote to accept or reject this plan.
Ideally in a world where everyone upholds property rights, the best plan would be to just sell off all the assets and distribute them equally in proportion to every customers holdings to the individual customers.
But since this is a bankruptcy filing and people dont value other peoples time, this proposal will pass and the people who cry about the world being unfair will themselves take part in perpetuating the crime.
Bitcoin fixes this by changing us and giving us a better unit to value each others time fairly. We become more fair and just being while playing a game where no one cheats. As opposed to people cheating while playing a game where everyone cheats.
A plan was proposed to give 85% of the smallest holders 70% of their money while trapping the top 15% in a company they did not want to be part of. Customers are going to vote to accept or reject this plan.
Ideally in a world where everyone upholds property rights, the best plan would be to just sell off all the assets and distribute them equally in proportion to every customers holdings to the individual customers.
But since this is a bankruptcy filing and people dont value other peoples time, this proposal will pass and the people who cry about the world being unfair will themselves take part in perpetuating the crime.
Bitcoin fixes this by changing us and giving us a better unit to value each others time fairly. We become more fair and just being while playing a game where no one cheats. As opposed to people cheating while playing a game where everyone cheats.