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> What is crypto mining if not a textbook Captain Planet villain scheme—to kill and raze and destroy for nothing but imaginary tokens proving that you did lots
by udev4096 1y ago
> What is crypto mining if not a textbook Captain Planet villain scheme—to kill and raze and destroy for nothing but imaginary tokens proving that you did lots of killing and razing and destroying?
Are you serious? You complain about the 2008 crisis and capitalism and yet completely neglect the true purpose of crypto? No wonder you drank the Google kool-aid
- waterlaw 1y agoWhat's the true purpose of crypto? It can be used to escape the banking system?
- roenxi 1y agoAsset that can't be involuntarily taken away or printed by a government.
- ecshafer 1y agoIt seems like Crypto can be taken away by the government. If the government orders you to give up your crypto they will just throw you in a cell until you comply. Or as it happening more and more often, a guy with a wrench persuades you to give it up.
- axus 1y agoOnly if you are "legible" to them.
- koolala 1y agoIt blew my mind they did that with Gold in the US. It's really scary what were are capable of.
- zzo38computer 1y agoMaybe barter should be better, then.
- roenxi 1y agoThey can't actually do that at a mass scale - they don't reliably know how much crypto any given person owns. Ditto, if someone beats me with a wrench and I give them a password accessing $500 of crypto, what % of my stash have they just claimed? Do they stop or continue with the wrenching? What is the stopping condition here?
- ceejayoz 1y agoSure it can. https://www.justice.gov/usao-sdny/pr/us-attorney-announces-historic-336-billion-cryptocurrency-seizure-and-conviction https://www.justice.gov/usao-sdny/pr/us-attorney-announces-h... > On November 9, 2021, pursuant to a judicially authorized premises search warrant of ZHONG’s Gainesville, Georgia, house, law enforcement seized approximately 50,676.17851897 Bitcoin, then valued at over $3.36 billion. This seizure was then the largest cryptocurrency seizure in the history of the U.S. Department of Justice and today remains the Department’s second largest financial seizure ever. Having you physically within their jurisdiction (and/or drone strike reach) permits quite a bit of leverage. As the XKCD comic notes… https://xkcd.com/538/ https://xkcd.com/538/
- oldjim69 1y ago>the true purpose of crypt Fraud?
- udev4096 1y agoClearly there are way too many bad actors now which makes it seem like a fraud to anyone from the outside
- jjulius 1y agoYou've essentially just backed up the quote from your first post with this comment.
- jvanderbot 1y agoA system that enables a proliferation of fraudsters _might_ have an inherent flaw that needs addressing.
- udev4096 1y agoAs if the banking system is any better. How can any legitimate payment system which has no cryptographic operations, is highly centralized, where the money can be printed out of thin air and way too many other reasons, be taken seriously?
- jvanderbot 1y agoI'm so glad to witness the evolution from "Revolutionize finance" to "No worse than banking most of the time, right?"
- rjbwork 1y agoSomehow 99.999% of the world's economy takes place upon it. Is all economic activity from the advent of banks to now not to be taken seriously?
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- mmsc 1y ago>the true purpose of crypto What's the latest version of this one these days?
- Filligree 1y ago“Enabling the Dark Economy” is one I’ve heard.
- jes5199 1y agoavoiding monetary control policies?
- chc4 1y agoIt does seem slightly silly that a through-line of the article is disgust at societal power dynamics and surveillance, and then not recognize that Bitcoin and other proto-cryptocurrencies were invented by anarchist cypherpunks as a solution to the same thing in the monetary system.
- mavhc 1y agoDid it work?
- chc4 1y ago"Privacycoins" exist and lots of anarchist cypherpunks are able to use them to buy drugs, so I'm liable to say yes
- udev4096 1y agoNot for you. Come to think of it, a monetary system which is designed on cryptographic operations would never be truly understood by people who love being oppressed and thrive under the mass surveillance of the banking system. You are just a stupid pawn
- windowshopping 1y agoThe author of this article is not slamming the authors of the protocol. They're criticizing what it became and what it's used for now. There's a difference. You can not seriously claim that this modern incarnation of Bitcoin is what was originally intended. That would be ridiculous.