4 ms·

All of the major world states are making their own crypto currencies - you think they just decided to do that because they think it's a fun thing to play with?

All of the major world states are making their own crypto currencies - you think they just decided to do that because they think it's a fun thing to play with? The Chinese central bank has filed hundreds of patents for CryptoYuan and is fast-tracking its efforts to back it with gold so they can win the crypto war. Must be nothing. The European central bank is currently building it's own crypto likely due for release by 2022, and so is the US Federal Reserve. States want crypto precisely because they'll be able to fully control the finances of citizens. Yeah, that's my idea of utopia alright. You have no idea what the value of a smart contract is, because no one really does. Some projects like ETH are trying to evolve it into something valuable. As for Bitcoin, you can make your own Bitcoin/Lightning nodes, and it's a race to the bottom in terms of charging fees for usage - so how do you imagine a middle-man will appear that will somehow strong-arm you into not being able to use the thousands of much cheaper nodes? Judging by the progress of technology, I'd say we're about 5 years away from being able to download the full Bitcoin blockchain within an hour. Here's the thing, you're arguing with a phantom in your mind and thinking you're winning something. Wake up and take cryptocurrencies seriously.

noddingham 6y ago
>States want crypto precisely because they'll be able to fully control the finances of citizens. Like they largely do already? How do you think cryptocurrency substantially changes any of that? >The Chinese central bank has filed hundreds of patents for CryptoYuan and is fast-tracking its efforts to back it with gold so they can win the crypto war. Must be nothing. DCEP differs from existing cryptocurrencies because it is legal tender, centralized, and not anonymous. It's backed by Yuan deposits for crying out loud! It's nothing like BTC! The Chinese government's plan is to digitize the yuan, not introduce a separate cryptocurrency. They're doing it to capture the missing part of the population not in the existing banking system (and thus the multiple methods of surveillance employed to track citizens and control their liberty). >You have no idea what the value of a smart contract is, because no one really does. Thank you for helping prove my point. >Judging by the progress of technology, I'd say we're about 5 years away from being able to download the full Bitcoin blockchain within an hour. Your _guess_ is irrelevant and unsubstantiated. The fact is that 40% of the world's population isn't even connected to the internet and even less than that have access to broadband indicates to me that it will be more than 5 years before the average user can download the staggering 321GB of the full BTC blockchain. You're mistaken if you think I don't take cryptocurrencies seriously. They're very serious, but it doesn't make them good or right.
- prohobo 6y ago
  I never made the argument that crypto was good. About the global internet coverage, I think Starlink will mostly solve that.

noddingham 6y ago

>States want crypto precisely because they'll be able to fully control the finances of citizens. Like they largely do already? How do you think cryptocurrency substantially changes any of that? >The Chinese central bank has filed hundreds of patents for CryptoYuan and is fast-tracking its efforts to back it with gold so they can win the crypto war. Must be nothing. DCEP differs from existing cryptocurrencies because it is legal tender, centralized, and not anonymous. It's backed by Yuan deposits for crying out loud! It's nothing like BTC! The Chinese government's plan is to digitize the yuan, not introduce a separate cryptocurrency. They're doing it to capture the missing part of the population not in the existing banking system (and thus the multiple methods of surveillance employed to track citizens and control their liberty). >You have no idea what the value of a smart contract is, because no one really does. Thank you for helping prove my point. >Judging by the progress of technology, I'd say we're about 5 years away from being able to download the full Bitcoin blockchain within an hour. Your _guess_ is irrelevant and unsubstantiated. The fact is that 40% of the world's population isn't even connected to the internet and even less than that have access to broadband indicates to me that it will be more than 5 years before the average user can download the staggering 321GB of the full BTC blockchain. You're mistaken if you think I don't take cryptocurrencies seriously. They're very serious, but it doesn't make them good or right.

prohobo 6y ago
I never made the argument that crypto was good. About the global internet coverage, I think Starlink will mostly solve that.