5 ms·

“Cryptocurrencies are described by their fans as a people-powered revolution, digital banking unchained from the interests of the wealthy and powerful.“ Not qu

“Cryptocurrencies are described by their fans as a people-powered revolution, digital banking unchained from the interests of the wealthy and powerful.“ Not quite correct. The wealthy and powerful can be wealthy and powerful and express their interests. They just have no special powers, as crypto currencies aim to be permissionless and deregulated. That means price manipulation or other financial games are largely quite ok by crypto standards so long as anyone is invited. It’s anti-bank and anti-government.. not anti-capitalist or anti-finance. Whether you are on board with this vision or if it’s good for society is another issue, but crypto is largely fulfilling its goals in my opinion.

llcoolv 5y ago
Yeah. On top of that the article is a bit misleading as the goal of crypto, gold, etc is not to become rich, but not to become poorer due to inflation.
- 0des 5y ago
  The goal is permissionless transactions on an immutable ledger.
  - xadhominemx 5y ago
    What is the goal of that?
    - imtringued 5y ago
      It's funny. What he is saying is that Bitcoin's value is philosophical in nature.
      - deleted 5y ago
        [deleted]
  - kemonocode 5y ago
    You can have different, non-conflicting goals. Specific projects bring something in particular to the table. Permission-less transactions on an immutable ledger is the very least most bring. A form of rebellion against centralized banking and an unfair global financial system where if you have the means and the connections you can get away with pretty much anything: lemon socialism, laundering billions and paying pittances on your taxes. To some, these are important goals; to others they are troublesome things to get rid of because they believe centralized economic systems are superior and inherently more trustful and less prone to abuse by criminals and terrorists, or that the perceived ecological impacts crypto mining are excessive. There are valid points on both sides, but it'll be extremely hard for me to change my position on crypto when it's become a personal lifeline for so long.

llcoolv 5y ago

Yeah. On top of that the article is a bit misleading as the goal of crypto, gold, etc is not to become rich, but not to become poorer due to inflation.

0des 5y ago
The goal is permissionless transactions on an immutable ledger.
- xadhominemx 5y ago
  What is the goal of that?
  - imtringued 5y ago
    It's funny. What he is saying is that Bitcoin's value is philosophical in nature.
    - deleted 5y ago
      [deleted]
- kemonocode 5y ago
  You can have different, non-conflicting goals. Specific projects bring something in particular to the table. Permission-less transactions on an immutable ledger is the very least most bring. A form of rebellion against centralized banking and an unfair global financial system where if you have the means and the connections you can get away with pretty much anything: lemon socialism, laundering billions and paying pittances on your taxes. To some, these are important goals; to others they are troublesome things to get rid of because they believe centralized economic systems are superior and inherently more trustful and less prone to abuse by criminals and terrorists, or that the perceived ecological impacts crypto mining are excessive. There are valid points on both sides, but it'll be extremely hard for me to change my position on crypto when it's become a personal lifeline for so long.