Very normal freedom loving country as always.
Also critical support for buttcoins in this particular case, I guess.
Yes. I’m saying there is value to censorship resistant ways of moving money. If we were ever to see a revolution in the US, do you think it will be funded through BofA?
Ethereum is already moving to a Proof of Stake model. The negative environmental impact really only applies to bitcoin at this point. It’s not insignificant, but it doesn’t apply to the whole ecosystem.
And I know we love to fancy ourselves economists on this site, but I’d like to remind people that money and markets are not capitalism.
Just put a ledger on a server somewhere and replicate it across a few trusted sites. All this crypto nonsense is predicated on the idea that no person or organization can ever be trusted. It’s a made up problem to assuage the fears of libertarians who think the root of all evil is central banking.
How’s the Fed doing at controlling inflation and unemployment lately? Given that they printed more money than was in existence in a single year and then handed it over to large corporations to pad their books, it sure seems to me that it’s been captured and manipulated by the wealthy along with the rest of the political structure
Uh, yeah? The central bank of the most capitalist country is doing a great job at lining the pockets of capitalists.
I mean that’s what a proof-of-stake blockchain would be essentially. What having a blockchain would allow for more transparency and thus lessen the chance of corruption.
You could still have a currency issued from a central bank, blockchain doesn’t automatically mean limited amounts of currency where only the people with the money to buy the right hardware get even more money like with Bitcoin.
Blockchain technology by itself is essentially just a distributed database where outside parties can verify the integrity of the contents.
You’re right that its nonsense that no institution can ever be trusted but if you can remove some of the need for trust relatively cheaply why wouldn’t you?
Why not just use a database though? Take postgres and publish your daily backups.
Engineering decisions shouldn’t be made by taking some new piece of technology and trying to find places that it might be useful. They should be made by finding problems then searching for technologies that might solve them. That’s the fundamental problem with all the “sure bitcoin is bad but blockchain…” stances people come up with. It’s choosing the solution first then desperately searching for a problem.
I would reckon that any revolution would not be funded monetarily, but rather through material support, either domestically, and/or through foreign intervention.
My point is that governments, especially the US, can easily block individuals from accessing the entire banking system with BSA/AML and foreign governments/citizens by cutting them out of SWIFT. A truly decentralized currency might be the best way to fight back against economic imperialism
