addisonhammer on Nostr: People calling it a credit score are missing the whole point... Credit scores are ...
People calling it a credit score are missing the whole point...
Credit scores are used when you work with a bank to obtain a line of credit ($1000s) but not for every transaction.
Imagine not being able to book a First Class plane ticket bc your score isn't high enough.
Imagine not being able to book a ticket at all...
Then imagine that there is a government with enough influence out there to forcibly tank your score if you start acting against the interest of said government.
The problem isn't how the score is supposedly compiled, it's the centralization of authority on how and where you're allowed to interact with the economy, and spend your fiat.
Credit scores are used when you work with a bank to obtain a line of credit ($1000s) but not for every transaction.
Imagine not being able to book a First Class plane ticket bc your score isn't high enough.
Imagine not being able to book a ticket at all...
Then imagine that there is a government with enough influence out there to forcibly tank your score if you start acting against the interest of said government.
The problem isn't how the score is supposedly compiled, it's the centralization of authority on how and where you're allowed to interact with the economy, and spend your fiat.