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Honestly I consider cryptos a trap even worse than actual "official fiat money": yes, formally they are able to operate peer to peer without a central bank/a ba
by kkfx 5y ago
Honestly I consider cryptos a trap even worse than actual "official fiat money": yes, formally they are able to operate peer to peer without a central bank/a banking system. Unfortunately they relay on an append-only "big file". No matter how efficient it can be in storage terms, no matter how much it can be tweaked, a day or another, after years of usage, it will grow too much to be used by essentially all people except those with big datacenters.
I see the same mechanic behind "free services" that start "gratis" and one took off start adding small fees, more small fees, not-so-small fees etc until they get classic commercial-only services and users now deeply tied with them can't escape.
Not counting the fact that without a network and relevant hw and sw we can't just exchange money, with cash we just need to have them and a third party with a hand.
It's a bit condensed but I think the point it's clear enough...