2 ms·
Cryptocurrency is a political tool nobody asked for. Blockchain is a data structure. There’s not much to understand, it’s not complicated for anybody with a hal
by lwansbrough 5y ago
Cryptocurrency is a political tool nobody asked for. Blockchain is a data structure. There’s not much to understand, it’s not complicated for anybody with a half decent understanding of computer science.
What is complicated, and what nearly every coin-swindler misses in their naive analysis of the value of Blockchain, is that they’re operating in the realm of geopolitics, with actors who have much more at stake. Decentralization, and thus decentralized cryptocurrencies are antithetical to optimal game theory strategy and natural order. To maintain decentralization over time requires infinite energy, because centralization is fundamental to how nature behaves. That’s why governments exist, that’s why central banks exist. That’s why efforts to optimize the pile of shit that is every cryptocurrency revolve around centralizing some aspect of the network. Centralization is optimally efficient.
The entire premise of cryptocurrency is flawed, but that is overlooked by the plebs who just want to get rich quick.
It’s embarrassing really.