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Crypto is an ideological position first, and a technology second (and only in a subordinate role as a framework for the ideological objective). So whether it i
by ChainOfFools 4y ago
Crypto is an ideological position first, and a technology second (and only in a subordinate role as a framework for the ideological objective).
So whether it is useful depends on how one feels about the tradeoff between highly efficient but potentially more oppressive centralization of public capital (the incumbent position), vs. ineluctably, stupendously inefficient but notionally less corruptable decentralization of public capital (this is the crypto-blockchain position).
And notionally is pulling a heavy load here indeed, as we have seen time and again that cryptocurrency might as well be called kleptocurrency given the endless fiasco parade of rugpulls, outright fraud, concentration of the market's very thin real liquidity in a few hands (thus enabling Number Go Up chart puppetry), facilitation of rampant ransomware and extortion to the point of inflicting naked cruelty on innocent people, shutting down city services, hospitals and more.