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BTC · 2w

We do the work, they take the profits: some cynically good news for BTC

**The tl;dr here is that I believe BTC is going to go up sooner or later because it will benefit the already-wealthy and their institutions.** Now, here's the **LONG VERSION:** Capitalism is a system of wealth accumulation which allows people with a lot of money to put that money to work so that they can generate more money. It's hard for most workaday schlubs to understand this because our experience with money is totally different. We sell our labor as a commodity to get money so we can buy food and shelter and other commodities we need to live. There's rarely enough money left over for more than a few little luxuries, but if you're very strategic, willing to sacrifice short term pleasure for long-term rewards, and also very lucky, you MIGHT be able to make some of your money work for you and scrape together an early retirement or even buy your way into the capitalist class by starting a business of your own. Assuming your business doesn't fail, like most small business startups, then eventually you will find yourself having a different relationship with money and commodities: Rather than selling your labor as a commodity, you will invest your surplus wealth (your CAPITAL) into commodities (which might include the commoditized labor of other working schlubs) so that you can generate EVEN MORE MONEY for yourself. At this point, you are a CAPITALIST, and your money -- your CAPITAL -- is doing the majority of the work for you. This is what is meant when people say CEOs are in the business of "allocating capital." The real job of a REAL capitalist (someone who is a real mover, not just some poor small business owner working 60 hours a week running a small business with modest profits to pay his mortgage but a REAL ACTUAL CAPITALIST) is to put money to work and let others do the labor and take the real risks for him. As an example, look at the way venture capital and tech startups typically operate. Investors pay for little tech companies to startup with the goa...
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