- cross-posted to:
- news@lemmy.world
- cross-posted to:
- news@lemmy.world
cross-posted from: https://lemmy.dbzer0.com/post/38746769
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And nothing of value was lost.
Fuck crypto.
BTC has been very useful for me a few times. I know it’s not anonymous and it’s an imperfect system (there’s been a period when I was flaming about that in the interwebs most, before the darker times, before the “AI”), but sometimes you are in a sanctioned country and you need to transfer money to someone who isn’t, or the other way around. I understand some people making laws want to consider this illegal and something else not illegal, all by their choice and vote. I could care less about their opinion.
Web3 is not this.
I agree that most of the crypto industry is complete scams, but you are throwing out the Monero baby with the bathwater.
How is Monero diffrent?
Total private blockchain that hides the sender, the receiver, and the amount sent and received. A tail emission to continue to provide an incentive for miners to secure the chain into the future. And a community hell bent on decentralization and peer to peer cash. Monero does not compromise. For example, it has been delisted from nearly every centralized exchange because the community refuses to add anything that would allow easier tracing.
I … understood part of what you said but for me the question is, ‘why should i care?’ The whole idea of cryptocoin just leaves me going ‘ok but how did anyone decide this was money?’
Before 2009, if you wanted to send somebody money over the internet, you had to ask permission from a third party to do so. And the third party could say no if they wished and you would have no recourse. The internet needed a native money so that you could send value just as simple as sending an email disrupted the postal service.
The whole idea of cryptocoin just leaves me going ‘ok but how did anyone decide this was money?’
How is this different with Zimbabwe dollar?
Until it gains stability resembling actual currency, it will remain a niche bartering item. All crypto still behave way too much like stocks to be used as payment methods in general society.
Oh, that’s correct. Too much of their value depends on trust into them, a feedback loop.
One can say that malicious emission of the real world (printing money to cover budget holes) and burning money (literally lost banknotes and such) and unknown untraced amount of cash are factors for stability. You know less and you speculate less, because what you speculate about is not as random, it’s a conscious actor (the emitent), and the rest is unknown, thus not creating a feedback loop.
I don’t know if one can really create such a system that would be extensible into offline applications. Double spending is a problem.
