How cryptocurrency (Bitcoin etc) is turning socialism against itself

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Thing is socialism always implodes eventually and in proportion to the amount that it is embraced. But if Bitcoin can help it along that’s a good thing.

It should also be noted, because it has been a while since we have, that crony capitalism, “fascism (generally) lite,” is a form of socialism.

(From Reason)

He read about it on an Argentinian gaming forum. An item posted to the site described a process of getting paid in a new internet-based currency denominated in strings of numbers and letters, in exchange for running computations on a home computer. His parents said that the whole thing sounded like a Ponzi scheme. Alberto, however, sensed that his life was about to change.

Four years later, his country is embroiled in a humanitarian crisis. The supermarket shelves are bare. Children are fainting from hunger in their classrooms. A mob recently broke into the Caracas zoo to eat a horse. Many Venezuelans subsist on a monthly government stipend equivalent to about $9.

Alberto, meanwhile, based on his own account, is earning more than $1,200 a day mining bitcoins and other cryptocurrencies.

I hope that “Alberto” has hightailed it to Costa Rica by now.

Click here for the article.