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Yes, and it's pretty clear that computing as a whole comes with a huge amount of downsides (hacking, revenge porn, video game addiction, etc). It's also pretty
by albntomat0 5y ago
Yes, and it's pretty clear that computing as a whole comes with a huge amount of downsides (hacking, revenge porn, video game addiction, etc). It's also pretty clear that the overall benefits outweigh the downsides.
I'm personally not convinced that the upsides of cryptocurrencies outweigh the downsides.
- suifbwish 5y agoI was surprised it wasn’t classified as some kind of counterfeiting scam tbh. When you mine crypto you are pretty much printing money. Sure yeah it takes proof of work/storage/stake ect but so does counterfeiting. The philosophical differences are kind of vague.
- yunesj 5y agoMining BTC is as much like counterfeiting USD as mining gold is like counterfeiting USD, which is to say, not alike at all.
- suifbwish 5y agoExcept gold exists as a material/commodity. Cryptocurrency was invented.
- chayleaf 5y agoWhen thr government prints money, it isn't counterfeited. When you mine crypto, it isn't counterfeited, because everyone is crypto's "government"
- thebean11 5y agoCrypto does not pretend to be dollars, so no it's not counterfeiting any more than the X foreign government printing Y non-USD currency is counterfeiting.