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There are two logical somersaults embedded with the crypto scene in its various mutations over the last decade that undermine the whole proposition irrespective
by streamofdigits 5y ago
There are two logical somersaults embedded with the crypto scene in its various mutations over the last decade that undermine the whole proposition irrespective of any other value system or vision.
* That digital decentralization is somehow equivalent to the tightly coupled blockchain architecture. In fact, if people were empowered to run their own "nodes" in a display of increasingly scarce digital self-sovereignty, there are infinite possible ways to connect devices over http (or gopher or ftp any other protocol the future may spawn). NB: The web was born decentralized. Many of those ways will arguably be much more useful in solving real problems as they do not put artificial constraints on how information flow is organized.
* That one can create artificial digital scarcity and put the genie of zero marginal cost back in the bottle. In fact already the very proliferation of thousand of cryptocurrency variants shows that digital scarcity could only ever be achieved by oppressive means. This is the very social malfunction purportedly (some) adherents of crypto are fighting against.
Why are we still talking about a set of ideas that is so distorted and orthogonal to both the true nature of the digital medium and our needs? Blame it on the self-financing juggernaut of bitcoin that triggered every possible speculative instinct out there, whether a new generation of noise day-traders, widows or orphans or professional blood-suckers.