/biz/ - Business & Finance

A number of distinguished people have read Nakamoto’s idea of a “Peer to peer digital cash”

The wealth of those societies where the communistic mode of production prevails,
presents itself as a an immense accumulation of coins, its unit being
a single Satoshi.

The surplus-value produced by a given capital is equal to the
surplus-value produced by each machine. To avoid capitalistic tyranny and
oppression victorious revolution led by the nodes performs a so called
retarget every two weeks.

Retarget is a manifestation of communistic mode of production. Every 2016 blocks
a labour-power is seized and the quality and production target is set collectively,
this form exists first as the price of the electricity offered for sale, then
as an actual sum of coins offered as a mining reward that the wagies exchange
their variable capital for living labour-power.

But assume that the duration of the labour necessary for the production of a
coin becomes doubled every 210000 blocks. In this case, one coin is already worth
as much as two were before, although in both cases one coins renders the same
service as two before, and the useful labour embodied in it remains of the same quantity. But the
quality of labour spent on its production has altered.

The only economist you should listen to.

Prove me wrong

Did he have the right idea about society?

C'mon /biz, admit it. He makes some good points.

Are we in late stage capitalism? Is socialism inevitable?

https://www.youtube.com/watch?v=lOJWP_e3EVA&t=210s

Why do nearly all Marxists assume that entrepreneurs/CEOs and executives earn their livings passively? Nearly every Marxist video I've seen on YouTube portrays one percenters are idle elites, while in reality most of them work far more hours than their employees.

How are you not a Marxist? It takes willful ignorance to believe capitalism is a legitimate economic system.

Can Marx even be refuted properly? It seems that he was the most perceptive economist of all time.

It is his birthday today! !!!