this post was submitted on 27 Jul 2025
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Crypto remains a pyramid scheme masquerading as a resistance against tyranny
Ironically you know what ACTUALLY protects from powergrabs by payment processors? A fully centralised, government backed form of digital cash that is fully equivalent to paper money.
Ask a Brazilian about pix. Super low fees (often feeling non existant). And transactions can't be invalidated on the whims of a corporate board. For something to not be buyable by pix it has to be illegal, thus having to go through every layer of checks and balances a democracy has.
The problem with visa and their ilk is that finance has been privatised. Too much power in the hands of corporations that have deftly dodged regulation that would keep them neutral and honest. Thinking privatising things further and turning everyone into a fully unregulated petty digital landlord is gonna solve anything rather than make it worse is foolhardy.
Only if the government is democratic, many governments seems to be autocratizing these days, which wouldn't help when they start enacting puritan policies and refuse payment transfers. Not to mention, even some democracies banned porn (South Korea, for example).
You're not wrong
But keeping a government democratic and under check is a lot easier than trying to do the same to a series of corporations with anonymous investors calling the shots. Every corporation is in and of itself a dictatorship, dangerously close to an old noble clan, and we pretend we don't see it because it's been hypernormalised.
I'd much rather take my chances with a government, that can in fact respond to the will of the people from time to time, than with a corporation that only ever responds to money with exactly no exceptions ever.