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Morlock Elloi on Fri, 15 Dec 2017 19:46:40 +0100 (CET)
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Re: <nettime> Never Mind the Bitcoin?
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- To: [email protected]
- Subject: Re: <nettime> Never Mind the Bitcoin?
- From: Morlock Elloi <[email protected]>
- Date: Fri, 15 Dec 2017 10:42:45 -0800
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Analogies galore: Bitcoin acts like a dam spillway, when there is too
much water that cannot be used to run turbines or irrigate. Very bad for
everyone downstream.
https://en.wikipedia.org/wiki/Oroville_Dam_crisis
On 12/14/17, 01:20, Felix Stalder wrote:
in a traditional sense. There is simply too much money held by too few
people who now trade it among themselves, rather than seeking to extract
surplus value from labor. There are only so many apartments one can buy
in Dubai and all that money needs to go somewhere.
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