Engels and Marx were savvy investors

https://www.theglobeandmail.com/investing/markets/inside-the-market/article-a-history-of-the-stock-market-investments-made-by-karl-marx-and/

Alexander Finnegan :"Not sure why I have to make this clear, but the “intellectual dilettante,” (this is the term he used for me) “Harold,” from Quora, was confused. This is for him.

First, Marxism is not about individual morality. No amount of individual moral virtue can fix the systemic problems caused by capitalism. So buying an iPhone or using Bitcoin are not “hypocritical” at all. Only a change of systems, from capitalist to socialist, matters.

Turns out, the fathers of communism were quite the savvy investors Karl Marx and Friedrich Engels were trades on the London Stock Exchange https://www.theglobeandmail.com/investing/markets/inside-the-market/article-a-history-of-the-stock-market-investments-made-by-karl-marx-and/

Marx and Engels were both investors and stock market speculators. They didn’t worry about “hypocrisy.” Only Western bourgeois leftists worry about that, while sipping Starbucks and looking for new ways to be offended and shame “tankies.”

Bitcoin is decentralized, and is not controlled by the Federal Reserve. This also means it is harder for it to be regulated, although the U.S. government could use a 1933 law which seized gold to seize Bitcoin on centralized exchanges. However, there are p2p methods and decentralized exchanges to buy and sell Bitcoin. If you cannot control your money, you cannot control your life.

Of course, in a Marxist-Leninist state, there would be a need to eliminate Bitcoin and use centralized, government controlled currency. This is what China is trying to do. The reasons are obvious. Last time I checked, I was an American, so that isn’t a concern of mine unless the U.S. became a Marxist-Leninist state.

Bitcoin’s benefits

This provides some advantages, especially for individuals who seek to have more independent control over their assets. Bitcoin is unlike a bank, because you don’t need to ask permission to withdraw it. You can send it from your phone, securely, any time of day, anywhere on the planet. It also enables a person to avoid sanctions by murderous capitalist governments which seek to use capital controls to choke nations which dare go their own path.

Environmental Concerns

First, the processing units to do the complex computations required to operate the Bitcoin network are becoming more efficient all the time. In fact, there are significant strides being made right now to move those to market. At the same time, renewable energy sources are coming online. So this two pronged strategy is reducing the environmental impact of the Bitcoin network.

One of the leading causes of climate change causing pollution is the U.S. military. The projection of U.S. military power also helps provide the strength behind the confidence of the U.S. dollar. It is joked that bomber jets are “fiat mining machines.” It takes military power to ensure the U.S. dollar is the reserve currency. But we are seeing that within five years, the U.S. dollar won’t be the reserve currency any longer. When that happens, the U.S. won’t be able to afford the massive U.S. military. This means the reduced power of the dollar will also be a leading source of reducing climate change.

We will also see Bitcoin continue to be used primarily as “digital gold” in the Global North and used as currency in the developing world where many are unbanked. In fact, Bitcoin is currently being used by many there, along with the Lightning Network, which is a layer-2 solution which makes Bitcoin transactions cheap and instantaneous.

“Calling out” another socialist without first asking him his position is for pathetic losers. I didn’t ask to be publicly shat upon so this phony could virtue signal. And those who upvoted his post I was careful to note and block.

Thanks, “comrades.”