Aren't cryptos potentially good for a dictatorship of the proles? We can via consensus at any moments notice change the rules to the game, or confiscate billionaires funds, or blacklist entire orgs. Good luck doing that via traditional banking, even if the proles are in charge.
Idk having distributed consensus mechanisms for contracts, money, etc protected by cryptography seems like a good thing in my mind? Like I've always thought of the tech as bringing on more (true) democracy, not less.
Shit, openly auditable systems - imagine a gov apparatus where the entire funding chain from the moment you pay your tax til the moment it pays the factory workers for the train parts being open for everyone to review at any time. Not just that, but in the event of malfeasance the proles can band together and just literally seize the funds with a simple on chain vote.
I mean ultimately we want a state so that we can get rid of class & the state, right? Being able to remove centralized power from bad actors seems dank & the money supply should be high on the list no?
I mean I get how 98% of crypto is shit, but am I completely missing something? Reveal my lib ways
Yeah, rent seeking behavior is bad I agree & any protocol or system that incentivizes that is bad. That's not to say that the underlying technology can't be used for good. Crypto doesn't automatically have rent seeking baked into it
I mean literally everyone having access to the protocol & being able to build consensus about money and contracts in a distributed fashion is dank & dope. Imagine a world where after Chevron loses their lawsuit & decides they aren't going to pay.. Except the proles just seize their money. Seems better than having 500 intermediate steps all designed as a Rube Goldberg device by capitalism for capitalism.
BP can spill oil and overnight we could vote to seize every asset they have, makes for a pretty easy redistribution scheme.
The problem with VOTE ideology is you're voting in their rigged game, it's not that people forming consensus is bad... It's that you're wasting effort in a rigged game that could otherwise be used to make actual material gains elsewhere. A cryptocurrency or contract network isn't necessarily rigged.
Crypto currency has a lot of advantages, which is why China is looking to introduce a nationally-backed crypto in the near future. Instantaneous feedback on how all of your financial systems are operating, where the money is going and where it's pooling, etc. It basically makes it impossible for any enterprise to cook the books.
The main problem with crypto like bitcoin is the "mining" process, which was designed to limit the supply basically by wasting electricity. A nationally-backed crypto could just be issued at an arbitrary rate (much like printed money) without wasting several countries' worth of electricity, which is advantageous.
I mean they're already rolling out proof of stake on ethereum & other alternatives exist. Mining is the worst.
Just make an incentive structure where it's in everyone's best interest to observe the rules of the protocol & distribute that power as widely as possible.
Aren't cryptos potentially good for a dictatorship of the proles? We can via consensus at any moments notice change the rules to the game, or confiscate billionaires funds, or blacklist entire orgs. Good luck doing that via traditional banking, even if the proles are in charge.
Idk having distributed consensus mechanisms for contracts, money, etc protected by cryptography seems like a good thing in my mind? Like I've always thought of the tech as bringing on more (true) democracy, not less.
Shit, openly auditable systems - imagine a gov apparatus where the entire funding chain from the moment you pay your tax til the moment it pays the factory workers for the train parts being open for everyone to review at any time. Not just that, but in the event of malfeasance the proles can band together and just literally seize the funds with a simple on chain vote.
I mean ultimately we want a state so that we can get rid of class & the state, right? Being able to remove centralized power from bad actors seems dank & the money supply should be high on the list no?
I mean I get how 98% of crypto is shit, but am I completely missing something? Reveal my lib ways
the wishful thinking of :vote: ideology but for technocratic redditors.
literally a neofeudal project by wannabee aristocrats like Elon Musk. Anyone who "invests" in this is a "bad actor"
Yeah, rent seeking behavior is bad I agree & any protocol or system that incentivizes that is bad. That's not to say that the underlying technology can't be used for good. Crypto doesn't automatically have rent seeking baked into it
I mean literally everyone having access to the protocol & being able to build consensus about money and contracts in a distributed fashion is dank & dope. Imagine a world where after Chevron loses their lawsuit & decides they aren't going to pay.. Except the proles just seize their money. Seems better than having 500 intermediate steps all designed as a Rube Goldberg device by capitalism for capitalism.
BP can spill oil and overnight we could vote to seize every asset they have, makes for a pretty easy redistribution scheme.
The problem with VOTE ideology is you're voting in their rigged game, it's not that people forming consensus is bad... It's that you're wasting effort in a rigged game that could otherwise be used to make actual material gains elsewhere. A cryptocurrency or contract network isn't necessarily rigged.
Crypto currency has a lot of advantages, which is why China is looking to introduce a nationally-backed crypto in the near future. Instantaneous feedback on how all of your financial systems are operating, where the money is going and where it's pooling, etc. It basically makes it impossible for any enterprise to cook the books.
The main problem with crypto like bitcoin is the "mining" process, which was designed to limit the supply basically by wasting electricity. A nationally-backed crypto could just be issued at an arbitrary rate (much like printed money) without wasting several countries' worth of electricity, which is advantageous.
Just replace Computer mining with people sitting in the room solving sodokus, and whoever solves it first gets the coin.
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I mean they're already rolling out proof of stake on ethereum & other alternatives exist. Mining is the worst.
Just make an incentive structure where it's in everyone's best interest to observe the rules of the protocol & distribute that power as widely as possible.