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> This is why we need decentralization. That's an interesting interpretation. I read it as 'all cryptocurrencies are scams'.
by flooow 2y ago
> This is why we need decentralization.
That's an interesting interpretation. I read it as 'all cryptocurrencies are scams'.
- lrvick 2y agoNot all cryptocurrencies are scams, not all traffic on Tor is CSAM, and not matrix messages are spam. Some of us use all of these decentralized systems daily for their actual intended use cases of sovereignty and privacy. Things like money and messaging are too important to a functioning society to allow any single party to control. We need -actually- decentralized money and -actually- decentralized communication. MobileCoin and Signal are neither and the results are predictable.
- theamk 2y agoThat's why there is no single party to control communication, and even for money there is US vs EU systems. "Actually decentralized" has a lot of problems, especially with things like spam and scams (see also: usenet). Federation makes sure no single party has too much power, and yet allows one to have usable systems.
- bdjsiqoocwk 2y ago[flagged]
- lrvick 2y agoSo is the paper money in your pocket people historically traded in their gold for. Gold is objectively more inflation resistant and useful, but the paper gold certificates fit in a wallet better. Society made a convenience tradeoff. One day the US government arbitrarily decided to not allow gold trade-ins anymore, but we had all learned to assign psychological value to this worthless paper by then and carried on anyway. Remember it is not a scam if a government does it. Money is all fake. It is a shared delusion. If we must use "worthless" money for practical reasons, would you prefer the rate of production be set by predictable math or by whatever politicians are in power this year?
- omnimus 2y agoCryptocurrencies are securities not money. Unless you have force (army) that enforces your money you will not have money.
- lrvick 2y agoWell I have clients that pay me in cryptocurrencies monthly, and I pay for goods and services with them regularly without Visa or Mastercard learning my purchasing behavior to sell to advertisers. Sure cryptocurrency is not as widely accepted online or in person locally as US dollars, but it is far easier to spend those same places than my Euros which actually meets your definition of money.
- omnimus 2y agoPeople will trade with amazon gift cards or weighted gold. The fact something has value and people will exchange it is not what makes thing money.
- lrvick 2y agomoney /mŭn′ē/ noun A medium that can be exchanged for goods and services and is used as a measure of their values on the market, including among its forms a commodity such as gold, an officially issued coin or note, or a deposit in a checking account or other readily liquefiable account.
- calciphus 2y agoSurely if you're concerned about privacy, an indelible public record of all transactions you made in and out isn't the way to accomplish that?
- blitzar 2y agoIf 'all cryptocurrencies are scams' then those that staff their boards are scammers.
- flooow 2y agoAgree
- deleted 2y ago[deleted]