Permanently Deleted
Digital gambling assets aren't a model for sustainable economic systems, a bunch of online poker chips whose fluctuating value actually makes them worse than the real casino chips
'rather than be at the whim of the federal government, we'd rather be at the whim of a volatile hypercapitalist unregulated 'currency' which could vanish our entire savings overnight!'
Preface: The contemporary culture around crypto is bullshit and capitalist snake oil. Most current cryptos are a net negative in their social effects.
Cryptocurrencies do have an amazing potential to help citizens of the global south, especially ones in AES countries held back by economic sanctions.
Giving the Venezuelan people the power to utilize currency not crippled by runaway inflation could be instrumental to freeing them from the tyranny of institutions like the IMF.
Cryptocurrencies do have an amazing potential to help citizens of the global south, especially ones in AES countries held back by economic sanctions.
North Korea also uses it to get funds IIRC.
With that being said, it's still incredibly damaging to the planet - and systems that don't use proof-of-work are mostly just fiction in terms of wide-scale use.
Proof-of-Stake is literally just rich people get richer, but codified. You could argue that Proof-of-Work is the same thing, as money buys mining rigs which give money. You could also argue that that's true for Capitalism in general, as money makes money which in turn makes more money.
But couldn't the US just mine the coin being used themselves then sell them for near zero artificial inflating them, its not like the security state don't absolutely already have legions of mining rigs
But couldn’t the US just mine the coin being used themselves then sell them for near zero artificial inflating them
Conceivably? Sure. It would probably be easier to just attack the protocols used to network the individual proof-of-work agents, effectively segregating (or at least strangling) certain coin-holders from the global network. But this gets into a broader conversation of electronic warfare. It isn't entirely clear where the US stands in this regard, particularly in light of the recent rash of ransomware attacks.
It isn’t entirely clear where the US stands in this regard, particularly in light of the recent rash of ransomware attacks.
It is quite possible that World War 3 will not begin with a bang, but with a blackout. Russia (and other anti-imperialist countries) have proved themselves to possess immense cybersecurity potential. For example: Russia being able to cause blackouts in Ukraine by disrupting Ukraine's electricity grids with computer viruses, Russia being able to severely disrupt the Ukranian economy with ransomware (that deletes your files anyways even if you pay lmao, see: notpetya), alleged North Korean hacking into American assets, alleged China using cyberwarfare to conduct industrial sabotage, China hacking CIA servers and exposing the locations of every single CIA agent on Chinese soil and then proceeding to totally wipe out CIA presence in mainland China (lmao rekt), etc...
The fact that Russia, China, North Korea, etc... are never affected by cyberattacks while America constantly is, should say something about America's cybersecurity potential or lack thereof.
The fact that Russia, China, North Korea, etc… are never affected by cyberattacks
I don't know how true that is. I think that's more a blind spot in western reporting if anything. A municipal government in a corner of a Chinese providence or a Russian state getting ransomwared just doesn't rate as news to western media.
But it's noticeable how comically vulnerable the US businesses have proven to be, when so much of this software foundationally originates in the US to begin with. Like, US anti-virus has always been bad. But you'd think there would at least be some kind of profit motive behind curbing it.
A local government getting hacked is quite different from the national-level disasters that are happening to the West though. It's one thing when a small town gets hit by ransomware, it's another thing when a national-level pipeline gets crippled by it.
Eh. Solar Winds wasn't a disaster, except in so far as it was a giant embarrassment.
The Texas freeze was a disaster. And that mess was entirely analog. The Suxnet bug was a serious threat to physical infrastructure. The Colonial Pipeline shit was purely about money.
"Hey Native Americans, have I got a deal for you", said the paper of record for white western imperialism.
Funny how a bunch of capitalists also stand to make a shit load of money off of it as well, wonder if that is the bigger story here?
Yeah I'm sure they're really eager to start shovelling coal into an engine labelled "accelerate mass extinction".
