sorrowforasking on Nostr: In your prior comment you asked me what is extraction, yet here I see you speak of a ...
In your prior comment you asked me what is extraction, yet here I see you speak of a different extraction. Indeed they are not different at all.. whether it’s fiat seigniorage siphoning value before it reaches people or a monopoly enforcing artificial scarcity, the mechanism remains the same: an imposed cost on participation.
The key distinction isn’t whether extraction exists, but whether it is voluntary or coercive, concealed or explicit. Fiat, taxation, and enforced debt function as inescapable tolls, while Bitcoin presents an alternative where participation itself is the price, but without an intermediary dictating terms. We are both on the same page here.
The real question isn’t whether extraction should exist.. it always has. The question is: who holds the power to impose it, and is that power just? If you are familiar with the1919 Gold Fixing and have been keeping up with today's 2020 Coalition for Inclusive Capitalism, then you will see there is no black and white answer, hence my original empathy. We have conversed quite a bit so I'll leave you with this:
"So I’ll get down upon my knees and bless the Working Man,
Who offers me a life of ease through all my mortal span;
Whose loins are lean to make me fat, who slaves to keep me free,
Who dies before his prime to get me round the century.
Whose wife and children toil in turn until their strength is spent,
That I may live in idleness upon my ten percent.
And if at times they curse me, why should I feel any blame,
For in my place, I know that they would do the very same.
(John Turmel, Thoughts of a Rich Man on Usury)"
The key distinction isn’t whether extraction exists, but whether it is voluntary or coercive, concealed or explicit. Fiat, taxation, and enforced debt function as inescapable tolls, while Bitcoin presents an alternative where participation itself is the price, but without an intermediary dictating terms. We are both on the same page here.
The real question isn’t whether extraction should exist.. it always has. The question is: who holds the power to impose it, and is that power just? If you are familiar with the1919 Gold Fixing and have been keeping up with today's 2020 Coalition for Inclusive Capitalism, then you will see there is no black and white answer, hence my original empathy. We have conversed quite a bit so I'll leave you with this:
"So I’ll get down upon my knees and bless the Working Man,
Who offers me a life of ease through all my mortal span;
Whose loins are lean to make me fat, who slaves to keep me free,
Who dies before his prime to get me round the century.
Whose wife and children toil in turn until their strength is spent,
That I may live in idleness upon my ten percent.
And if at times they curse me, why should I feel any blame,
For in my place, I know that they would do the very same.
(John Turmel, Thoughts of a Rich Man on Usury)"