Money - helpful tool or root of all evil?

I didn’t necessarily meant fighting each other for survival, but rather living a far more dangerous and less comfortable life. We have a lot of time and the luxury of safety today (more specifically, we as in we here in the Fairphone forum, not all humans on the planet). Only that allows us to actually spend time thinking about the fair production of Smartphones or, even more extreme, spend complete days and front of our screen wachting TV series.

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I am 100% sure that the concept of other was introduced way before that. Most animals living on social structures know that concept: Don’t you dare to come into my area and eat my food! It’s for me and my family only!

As far as I know, there is no proof whatsoever that neanderthals were more aggressive the other human species. In fact, I also read interesting articles claiming the exact opposite. Whatever, it’s really hard to say why what species was successful anyways. But what we know for sure is that neanderthals and other humans mixed.

I was not claiming every or even the majority of interaction was aggressive, not at all, but to claim we living more peaceful as hunters and gatheres before we had money is equally hard to proof.

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Yup. Perfect example of that is VC funding.

Say, simplified scenario, you got 1M USD. You spread with 10k on 100 VCs. One of them becomes the next Facebook/Google/Apple/Amazon/Microsoft or -more likely- gets bought by Facebook/Google/Apple/Amazon/Microsoft. You’ll get a ROI many times over that 1M you invested. And that’s ignoring the other 99 companies (yeah, some will collapse with all the money gone).

Now imagine you got 1k USD and you spread with 10 USD (as if anyone would care to receive that). You won’t even bother because you can barely keep your head above the water, and you get all these temptations to spend your money right now which you barely have. Lets assume you resist them. The % of money you spend on basic necessities is far higher, and even if you would invest in VC you’d end up with a much lower % of profit. So even if the poor would be able and take the exact same risks as the rich, they’d still end up poorer. And that’s just one example. Playing with interest rate worked historically (right now not anymore), playing the stock market still works, as long as you spread and don’t panic when the economy ends up in recession.

Bitcoin however, is just speculation and furthermore Bitcoin is evil from an environmental PoV. Because it has a huge Co2 footprint, by design. The thing it has going for it, it was the first cryptocurrency and implementation of blockchain, and its the best supported cryptocurrency (as in, with real services) though still not many I’d say. The transactions are expensive and take long. So people resort to hacks like Lightning Network or Bitcoin Visa cards. And many people keep their money on hot wallets (in exchanges) instead of cold wallets. You can see what greed does with people when bugs are found in cryptocurrencies or when exchanges (who got “HACK ME” written on the front door) get hacked. There’s a reason securing physical banks took so us many centuries… the whole Bitcoin soap keeps proving all kind of lessons the physical money & bank world have taught as for centuries. Including that people are not mature/responsible enough to keep money themselves. The whole reason banks got invented in the first place: “We will keep your gold safely”. This 45 min animation explains the problem reasonably well:

The evil side about money stems from the banking system; it is fractional reserve banking where money isn’t backed up by gold as it used to be and can be made with one keystroke by the government(s) (or central bank) who thereby control de- and inflation (ie. means us all paying) however here once again Bitcoin isn’t better. With Bitcoin, there are also people in power with their own interests & propaganda (example: most Bitcoins being mined by a bunch of Chinese who pay pennies for their energy bills), and furthermore Tether (USDT) is akin to that as well since it isn’t backed up by real USD. The company behind it promised an audit, but has failed to deliver:

https://medium.com/@bitfinexed/bitfinex-fails-to-perform-promised-audits-instead-they-have-a-shareholder-tell-everyone-its-all-965ae7037b5d

People do that in order to secure their future; an old, proven habit. Genesis 41:30 includes an example and lesson of this via 7 years of famine in Egypt.

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