Of course you can theoretically do anything you can do with cryptocurrency without it, as long as you have full trust in some central authority who is willing to implement the thing you want. Two big problems with this, first not everyone trusts the same authority or even any authority, so we all have to use different systems that are difficult and expensive or impossible to connect. Second, the institutions which currently process financial transactions are very much not willing to implement whatever code you want on their servers. I can't deploy an automated market maker or prediction market to chase bank, I can't ask them to use zero knowledge proofs to reveal something about my assets to a third party while keeping something like my account balance a secret. I for sure can't ask them to do more communisty things like create a form of money or asset that automatically redistributes itself. There are a whole bunch of applications that are currently happening on blockchain that absolutely could not exist otherwise, not because the technology is tied to blockchain, but because governments and corporations aren't interested in them.
I can’t deploy an automated market maker or prediction market to chase bank
at last crypto will free us from the oppression of Chase Bank not letting everyone set up anonymized stock trading robots on their servers. surely the future is bright now that crypto has solved this problem
I'm giving examples of things that are currently happening on blockchain which you can't practically do any other way, what the parent comment asked for, not saying these are good things we definitely should do.
thank you for earnestly and knowledgeably replying to the question i posed. what i assumed implicit in the question and your answer is that any reply given would be for things that are good and should be advocated for. apologies for the snark and misunderstanding
Unfortunately most of the really good stuff isn't happening, I admit that the majority of people interested in participating in crypto are... not friendly to socialism, but as OP shows it's not 100%, and I can tell you from interacting with the community there is a lot of ideological diversity on the margins and even among the top influencers. The good stuff as I see it would be having a borderless communist economy in which all powerful institutions are under public or worker control, with automatic and continuous redistribution of wealth, and which cannot be easily couped from within or destroyed from without. I don't see an obvious way to get there at a scale that matters, you need a lot of people to participate, but I also don't see any reasons why growing such a thing would be impossible, and putting it on the blockchain has the advantage of giving it protection from hostile actors while it's still in early stages and unable to defend itself with military force.
Of course you can theoretically do anything you can do with cryptocurrency without it, as long as you have full trust in some central authority who is willing to implement the thing you want. Two big problems with this, first not everyone trusts the same authority or even any authority, so we all have to use different systems that are difficult and expensive or impossible to connect. Second, the institutions which currently process financial transactions are very much not willing to implement whatever code you want on their servers. I can't deploy an automated market maker or prediction market to chase bank, I can't ask them to use zero knowledge proofs to reveal something about my assets to a third party while keeping something like my account balance a secret. I for sure can't ask them to do more communisty things like create a form of money or asset that automatically redistributes itself. There are a whole bunch of applications that are currently happening on blockchain that absolutely could not exist otherwise, not because the technology is tied to blockchain, but because governments and corporations aren't interested in them.
at last crypto will free us from the oppression of Chase Bank not letting everyone set up anonymized stock trading robots on their servers. surely the future is bright now that crypto has solved this problem
I'm giving examples of things that are currently happening on blockchain which you can't practically do any other way, what the parent comment asked for, not saying these are good things we definitely should do.
thank you for earnestly and knowledgeably replying to the question i posed. what i assumed implicit in the question and your answer is that any reply given would be for things that are good and should be advocated for. apologies for the snark and misunderstanding
Unfortunately most of the really good stuff isn't happening, I admit that the majority of people interested in participating in crypto are... not friendly to socialism, but as OP shows it's not 100%, and I can tell you from interacting with the community there is a lot of ideological diversity on the margins and even among the top influencers. The good stuff as I see it would be having a borderless communist economy in which all powerful institutions are under public or worker control, with automatic and continuous redistribution of wealth, and which cannot be easily couped from within or destroyed from without. I don't see an obvious way to get there at a scale that matters, you need a lot of people to participate, but I also don't see any reasons why growing such a thing would be impossible, and putting it on the blockchain has the advantage of giving it protection from hostile actors while it's still in early stages and unable to defend itself with military force.
I think capitalism had a rather distasteful, yet supremely effective way of dealing with this problem at the beginning.