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I think most of crypto is a scam, but I can see the upside in a few things like ENS where a distributed consensus might be better than a centralized authority.
by donmcronald 3y ago
I think most of crypto is a scam, but I can see the upside in a few things like ENS where a distributed consensus might be better than a centralized authority.
However, the tax implications are insane for me in Canada. I won't touch anything where I have to pay in crypto because it creates a huge burden when it comes to doing my taxes at the end of the year. How does crypto solve that? IMO, they've already been regulated to a place where they can't compete.
I also feel like proof of stake is literally the code-is-law version of "the rich get richer". If the injection point for newly minted ETH is the rich that already own the majority of the existing ETH, how is that any different than the government printing FIAT and the rich that already own the majority of the FIAT being the injection point? For me, it's all the same because I don't see how anything changes for me (besides more complex taxes).