4 ms·

"just build your own platform" The good news is that the continued censorship will fuel adoption of crypto and speed up the demise of parasitic middlemen who t

"just build your own platform" The good news is that the continued censorship will fuel adoption of crypto and speed up the demise of parasitic middlemen who take a cut off every transaction

buboard 8y ago
wishful thinking, unfortunately
- beginningguava 8y ago
  Once upon a time people wondered why people would do online shopping or use credit cards when cash got the job done. Crypto will eventually become the most logical option for most companies, it won't happen over night but it will eventually. Accept payment in any cryptocurrency and then convert them to a stablecoin so you aren't affected by price changes due to speculation
  - pixxel 8y ago
    Indeed. I think credit cards took some 40 years to become mainstream.
  - buboard 8y ago
    as others have pointed out, the problem of accounting/taxation is important to solve before cryptos can become the cash of the web. and it might not be solvable
    - russdpale 8y ago
      Our current financial system has taken 1000 years to formulate into what we know today. People are impatient.
to_bpr 8y ago
Given the current climate where vast swathes of people actively support and encourage this type of de-platforming and censorship, I believe it's far more likely that we'll find ourselves in a situation akin to those in China than the libertarian paradise you've alluded to. Edit: Silently downvoted, no disagreement voiced. Welcome to the new Reddit.
- spookthesunset 8y ago
  > de-platforming God forbid the vast majority of people in the world don't want to listen to a bunch of racist nut jobs ramble on about various ill founded conspiracy theories.
  - erik_seaberg 8y ago
    Maybe they're only burning the bad books, but I wouldn't bet on that.
    - spookthesunset 8y ago
      I don't see any jack booted government goons walking around burning books, do you? I just see a private company choosing to not do business with another private company. Isn't that what the whole "free market" thing supposed to be about?
iamnothere 8y ago
Unfortunately it is not clear that crypto will be able to prevent this. To allow for participation from people in the legacy economy, at some point an exchange between cash and crypto must be made. This is the weak point that can be easily attacked by governments and the banking oligarchy. Additionally, if disfavored entities begin using crypto and thriving on it, the government will simply find an excuse to sieze it under money laundering or terrorism laws, or will make something else up on the spot. Look at what happened to the Liberty Dollar for an example of what can happen to alt currencies when they start to gain real traction. Remember, all that you have to do is make alt currencies inconvenient enough to use for normal payment needs, and this will discourage people from getting involved. Lower participation deprives the alt economy of goods, services, and the ability to exchange currency for "real" cash. That doesn't mean that crypto is totally useless, just pointing out that there is not a technical "silver bullet" solution to this problem. Technical solutions must be part of the answer, but these must be backed by political force.
raverbashing 8y ago
Bitcoin is busy shooting themselves in the foot. Can't wait for a better alternative to really take off.
way2983 8y ago
>fuel adoption of crypto and speed up the demise of parasitic middlemen who take a cut off every transaction Most business owners do not have the technical ability, interest, or logistical overhead to actually accept "crypto" (or cash) without "parasitic middlemen". This is why Coinbase, BitGo, et al. are very successful in this area, and account for virtually all cryptocurrency commerce. The function of Coinbase or BitGo is not parasitic; no business wants to cope with the arduous requirements to be able to accept and store cryptocurrencies.

"just build your own platform" The good news is that the continued censorship will fuel adoption of crypto and speed up the demise of parasitic middlemen who take a cut off every transaction

buboard 8y ago

wishful thinking, unfortunately

beginningguava 8y ago
Once upon a time people wondered why people would do online shopping or use credit cards when cash got the job done. Crypto will eventually become the most logical option for most companies, it won't happen over night but it will eventually. Accept payment in any cryptocurrency and then convert them to a stablecoin so you aren't affected by price changes due to speculation
- pixxel 8y ago
  Indeed. I think credit cards took some 40 years to become mainstream.
- buboard 8y ago
  as others have pointed out, the problem of accounting/taxation is important to solve before cryptos can become the cash of the web. and it might not be solvable
  - russdpale 8y ago
    Our current financial system has taken 1000 years to formulate into what we know today. People are impatient.

to_bpr 8y ago

Given the current climate where vast swathes of people actively support and encourage this type of de-platforming and censorship, I believe it's far more likely that we'll find ourselves in a situation akin to those in China than the libertarian paradise you've alluded to. Edit: Silently downvoted, no disagreement voiced. Welcome to the new Reddit.

spookthesunset 8y ago
> de-platforming God forbid the vast majority of people in the world don't want to listen to a bunch of racist nut jobs ramble on about various ill founded conspiracy theories.
- erik_seaberg 8y ago
  Maybe they're only burning the bad books, but I wouldn't bet on that.
  - spookthesunset 8y ago
    I don't see any jack booted government goons walking around burning books, do you? I just see a private company choosing to not do business with another private company. Isn't that what the whole "free market" thing supposed to be about?

iamnothere 8y ago

Unfortunately it is not clear that crypto will be able to prevent this. To allow for participation from people in the legacy economy, at some point an exchange between cash and crypto must be made. This is the weak point that can be easily attacked by governments and the banking oligarchy. Additionally, if disfavored entities begin using crypto and thriving on it, the government will simply find an excuse to sieze it under money laundering or terrorism laws, or will make something else up on the spot. Look at what happened to the Liberty Dollar for an example of what can happen to alt currencies when they start to gain real traction. Remember, all that you have to do is make alt currencies inconvenient enough to use for normal payment needs, and this will discourage people from getting involved. Lower participation deprives the alt economy of goods, services, and the ability to exchange currency for "real" cash. That doesn't mean that crypto is totally useless, just pointing out that there is not a technical "silver bullet" solution to this problem. Technical solutions must be part of the answer, but these must be backed by political force.

raverbashing 8y ago

Bitcoin is busy shooting themselves in the foot. Can't wait for a better alternative to really take off.

way2983 8y ago

>fuel adoption of crypto and speed up the demise of parasitic middlemen who take a cut off every transaction Most business owners do not have the technical ability, interest, or logistical overhead to actually accept "crypto" (or cash) without "parasitic middlemen". This is why Coinbase, BitGo, et al. are very successful in this area, and account for virtually all cryptocurrency commerce. The function of Coinbase or BitGo is not parasitic; no business wants to cope with the arduous requirements to be able to accept and store cryptocurrencies.