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Ok... so the political and economic foundations of the crypto ecosystem are flawed. It's a movement driven by fascists and criminals posing as libertarians. It'
by agentultra 5y ago
Ok... so the political and economic foundations of the crypto ecosystem are flawed. It's a movement driven by fascists and criminals posing as libertarians. It's based on the Austrian school idea of, "sound money," itself a poorly conceived idea with roots in racism and fascism. If that doesn't corrupt the entire enterprise, what are the good parts?
In the pursuit of this, crypto supporters have blasted exorbitant amounts of excess CO2 into the atmosphere for very little work done in over a decade.
And it literally doesn't do anything. It was adopted as a national currency by one country and hardly anyone who lives there seems to use it. It doesn't by-pass international sanctions. It's not free from government regulation like the criminals want.
All it seems good for is divesting money from technologically illiterate rich people who jumped on the bandwagon, advertised their crypto holdings, and have poor or non-existent opsec. It's a scammers' dream: it's way easier and far more profitable to rip these people off than to run a scam against a bank or old people.
If your goal is truly altruistic and you want to see more transparency in the financial system, access for people from all economic and diverse backgrounds, etc: get into politics, banking, or just vote. Start a non-profit think-tank and hire analysts to help inform positive policy changes.
The technology behind this stuff is pretty useless at providing financial services because those systems are social/political systems. Technology is but a small part of supporting them.