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Preface: The contemporary culture around crypto is bullshit and capitalist snake oil. Most current cryptos are a net negative in their social effects.
Cryptocurrencies do have an amazing potential to help citizens of the global south, especially ones in AES countries held back by economic sanctions.
Giving the Venezuelan people the power to utilize currency not crippled by runaway inflation could be instrumental to freeing them from the tyranny of institutions like the IMF.
Cryptocurrencies do have an amazing potential to help citizens of the global south, especially ones in AES countries held back by economic sanctions.
North Korea also uses it to get funds IIRC.
With that being said, it’s still incredibly damaging to the planet - and systems that don’t use proof-of-work are mostly just fiction in terms of wide-scale use.
Proof-of-Stake is literally just rich people get richer, but codified. You could argue that Proof-of-Work is the same thing, as money buys mining rigs which give money. You could also argue that that’s true for Capitalism in general, as money makes money which in turn makes more money.
But couldn’t the US just mine the coin being used themselves then sell them for near zero artificial inflating them, its not like the security state don’t absolutely already have legions of mining rigs
But couldn’t the US just mine the coin being used themselves then sell them for near zero artificial inflating them
Conceivably? Sure. It would probably be easier to just attack the protocols used to network the individual proof-of-work agents, effectively segregating (or at least strangling) certain coin-holders from the global network. But this gets into a broader conversation of electronic warfare. It isn’t entirely clear where the US stands in this regard, particularly in light of the recent rash of ransomware attacks.
It isn’t entirely clear where the US stands in this regard, particularly in light of the recent rash of ransomware attacks.
It is quite possible that World War 3 will not begin with a bang, but with a blackout. Russia (and other anti-imperialist countries) have proved themselves to possess immense cybersecurity potential. For example: Russia being able to cause blackouts in Ukraine by disrupting Ukraine’s electricity grids with computer viruses, Russia being able to severely disrupt the Ukranian economy with ransomware (that deletes your files anyways even if you pay lmao, see: notpetya), alleged North Korean hacking into American assets, alleged China using cyberwarfare to conduct industrial sabotage, China hacking CIA servers and exposing the locations of every single CIA agent on Chinese soil and then proceeding to totally wipe out CIA presence in mainland China (lmao rekt), etc…
The fact that Russia, China, North Korea, etc… are never affected by cyberattacks while America constantly is, should say something about America’s cybersecurity potential or lack thereof.
