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> crypto is built to change the people that control the money Yep, crypto is a revolution being staged to replace the establishment (central banks and traditio
by creamyhorror 5y ago
> crypto is built to change the people that control the money
Yep, crypto is a revolution being staged to replace the establishment (central banks and traditional finance) with a new one (crypto/defi founders and adopters). The goal is to use the new marketing to draw people to the new system and become the new rich. The earlier and more you buy into it, the more incentive you have to spread the word.
This is why it makes sense to rebuild everything in crypto despite it being less efficient. It needs to be done, so that the new system (that replaces all parts of the old) is ready for people to be drawn into it.
- gingeropolous 5y agoits less efficient because decentralized things are less efficient by design. they sacrifice efficiency for the authoritiless nature. That is the goal - to remove authority from money. Money should just exist and have rules and thats it. That's what cryptocurrencies are. to me, its that even if what is happening is that some new ruling class is being established, the difference is that the new ruling class won't be able to fundamentally change the rules anymore. Currently our monetary system is managed by rooms of Very Smart People that can change things at a whim and the cracks are starting to show. but yeah, things are interesting though.... there is a recent upswell of proof of stake, which is just central banking all over again. So the new system might end up looking the same as the old system if these PoS coins become more common. The difference is though is that bitcoin is unstoppable. Like, its price could be 40k, its price could be 400k. The protocol will still work. The old system has no choice but to adapt or whatever.