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Yes but there’s also real value in developing better technology and encoding transparency and accountability into our financial and social systems. Evil banker
by dcow 5y ago
Yes but there’s also real value in developing better technology and encoding transparency and accountability into our financial and social systems. Evil banker men and corrupt authorities do exist and people rightfully want to rebalance the power distribution to mitigate the damage manipulative people can do.
- acdha 5y agoThe question is whether any of the cryptocurrency companies are actually able to deliver that. Traditional MLMs always claimed to be doing something noble like being healthier or democratizing real-estate, too, and the cryptocurrency pitches notably revolve around people selling things which they know cannot solve the stated problem but promise that they’ll figure out how to built a viable system after you buy in and make them rich first.
- throwaway248329 5y ago99% of all crypto companies are scams looking pump the price and sell their premine. Bitcoin is the only crypto that matters.
- bradwood 5y agoand there is no Bitcoin "company"
- dcow 5y agoAnd Chia.
- throwaway248329 5y agoNah, another shitcoin that is run as a startup with a large premine.
- duxup 5y agoI wouldn’t be surprised to find that if given the choice any given crypto company would gladly become “the man” they would seem to be fighting against.
- acdha 5y agoI feel like an awful lot of the market could be summed up as “Wouldn’t it be great if <ordinary activity> had microtransactions like a pay-to-win mobile game?”
- boh 5y agoI love how crypto is somehow morally superior bcs "technology". Somehow crypto enthusiasts can explain away the opportunist cesspool that surrounds crypto as isolated anomalies, while making corruption a characteristic exclusive to existing institutions.
- rglullis 5y agoWho said anything about morally superior? There is no morals in regard to the technology. The tech itself has no morals, it is the people that use the tech for good or evil.
- lottin 5y agoNot really, "evil" bankers are held accountable by the judiciary and regulators. If anything crypto-currencies hamper the ability of those authorities to hold them accountable, so they make things worse in that respect, not better.
- bradwood 5y ago> ..."evil" bankers are held accountable by the judiciary and regulators ...by the judiciary and regulators only so far as the (imperfect) legislation of the day allows. You are forgetting the unelected central bankers who knowing refer to inflation as "transitory" when they know, and we know, it isn't. You are forgetting the guys who decide to print 40% more US Dollars in 18 months without giving the electorate an opportunity to weigh in on this drastic decision. These central bankers are the so-called "evil bankers" -- the Wall St types just want to make money and while that might be greedy, at least they're honest about it.
- lottin 5y agoManaging the money supply according to a democratic mandate doesn't constitute "evil", sorry. I thought this was a serious discussion.
- bradwood 5y agoNote the word "so-called". And note the use of quotes citing the OP. This is a very serious discussion. On a side note, where is that "democratic mandate" of which you speak? Been looking for a while and can't seem to find it.
- lottin 5y agoYou can't find the mandate? https://www.federalreserve.gov/aboutthefed/section2a.htm https://www.federalreserve.gov/aboutthefed/section2a.htm
- Kbelicius 5y ago> You are forgetting the unelected central bankers who knowing refer to inflation as "transitory" when they know, and we know, it isn't. This is not true, that bankers refer to inflation as something "transitory" as you put it. Maybe they talk like that about current inflation rates but certainly not about inflation itself.