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Sure, but The point was how Bitcoin and crypto would “work” when traditional legacy systems fail. Relying on HAM radios and satellite links are both legacy sys
by throwaway_kufu 5y ago
Sure, but The point was how Bitcoin and crypto would “work” when traditional legacy systems fail.
Relying on HAM radios and satellite links are both legacy systems and we can’t pretend any significant percentage of the global populace could conduct Bitcoin transactions without centralized 3rd party services subject to the same regulations as the banks, much less use HAM radios, especially the poor and unbanked who always seem to be the goto demographic the proponents of cryptocurrency point to as the people benefiting greatly from cryptocurrency.
It’s on par with saying when supply chains fail we have farming, hunting and gathering. Very few people are capable of getting fresh water much less living off the fat of the land.
I like the technology and do see it as still in the early stages of adoption, but I liked the freedom of the early internet, unfortunately that didn’t stop SV and VC money from putting a strangle hold on it, making it the shit-hole sandboxes it is today, exploiting people and farming their attention and data for advertising dollars.