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I agree with the whole thread. I understand the appeal of "decentralized" currency, but proof-of-work #cryptocurrency is already a disaster on many levels, and proof-of-stake seems to be yet another wealth concentration scheme.

JP

2021-05-04 14:02:23


Having recently run across a couple people with avowedly left politics who support cryptocurrency I foresee a major public reckoning in the discourse. Personally I think crypto is ancap ideology in a very pure form (ie capital does whatever the hell it wants).
#cryptocurrency

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Isaac Kuo OLD ACCOUNT
Isaac Kuo OLD ACCOUNT  
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I agree, but ... why in 2021? We already had this same conversation and discourse in 2008 ... and 2009 ... and 2010 .... and 2011 ... and 2012 ... and 2013 .... and 2014 ... and 2015 ... and 2016 .... and 2017 ... and 2018 ... and 2019 ... and 2020.

It's like the gold-bugs. It doesn't matter how stupid they are, they're just going to keep on being stupid the same way for ever and ever. These folks are not driven by facts, and no amount of facts will ever sway them.
Hypolite Petovan
Hypolite Petovan  
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@Isaac Kuo At least for me, I've always be sensitive to the decentralized aspect of cryptocurrencies, but I've grown to hate speculation, Proof-of-Work and I was placing some hope into Proof-of-Stake without knowing anything about it, but I quickly looked it up and while it's certainly better for the environment, it does favor wealth concentration as well and it doesn't solve the main problem. As long as people aren't paid in cryptocurrency, there isn't a good reason to own some other than speculation and anonymity, and neither of them are sufficient to justify the massive costs of cryptocurrency.
@Isaac Kuo OLD ACCOUNT
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