Topic: If Communists came to power all over the planet, would they be bitcoin alone or - page 2. (Read 146 times)

Communists would never use bitcoin or any decentralized currency if they came to power.

Simply because it would give people power. Bitcoin is decentralized, which means the central communist government can't control it fully. That said, they would be afraid of it and outright ban it.

Being decentralized, bitcoin could go against the communists' agenda at certain points by allowing people to bypass certain flash laws and other regulations in place at the time.

For example, if there's a ban on buying pigs, people could bypass that ban by trading with bitcoin.

And if the communist party wanted to spike the price of their currency, they couldn't very well manipulate the price of bitcoin because it's decentralized.

But in reality, if what you're talking about is a true communist world, then there would be no need for bitcoin or money. The definition of communism doesn't allow for money because everyone exchanges services and goods freely. Everything is equal and distributed equally. But true communism never happens.

But in the existing communist countries of the past, they took their currencies and brainwashed their citizens to devalue them. People didn't think much about money except that it's a form of note that you need to buy and sell things. The governments actively promoted the valuation of social interaction and culture over trying to amass wealth via money. This way, people would care less about creating financial inequality and would care more about lending to the communist society.

Can Bitcoin do that? No. Bitcoin engenders a natural instinct to hoard it, to amass it. The price of bitcoin spikes and falls such that a communist citizen would have to worry about its value.

So no, communists won't use bitcoin

You have very good humor))

If communist came to power it wouldn't matter if you had 1 million bitcoin or none, your funds would be confiscated and you would be put to work like the rest of the 'commoners'.

Do not think this would be your biggest worry if that scenario came to be.

A mistake in my question. Right below

If the Communists came to power on the whole planet, WOULD be BANNED if they bitcoin or NOT?

If Communists came to power all over the planet, would they be bitcoin alone or not?