i feel most lefty peoples objections to crypto are based on anti-money anti-exchange attitudes, but they use the obviously bad scams and hype in the space as the excuse when debating it. they're right to be mad suspicious because it ends up being the same old capitalism for the most part, but that's because of the underlying system and not because recording numbers on a computer is somehow inherently evil.
i'd agree crypto doesn't solve a lot really, i prefer regular community credit or local exchanges like sardex, though there are crypto-enabled versions of these ideas like Circles UBI that look promising.
but also from my perspective cash is for sure not energy free. it requires the entirety of the state to back up it's value (armies, police etc). i also see the problems with capitalism (speculation, mass accumulation, profit) as a direct consequence of state society
there are *so* many terrible things about cryptocurrency than just proof of work. in fact, id say proof of stake just exacerbates a lot of those issues, especially for a blockchain like Ethereum that is infamous for forking in order to preserve the wealth of the miners.
you're right, riddled with problems, but I don't believe this is a fundamental/essential property of "crypto", but rather a strong bias of implementation, because people found that could make money.
I just get very strong "throwing the baby out with that bathwater" vibes on the topic in fedi.
cryptography is certainly useful as a whole, and there is a lot of work to be done on improving the relationship between technology and governance. however, in my semi-educated opinion, the only modifications that would save cryptocurrency are things that go against its fundamental premise, like mutability and/or developing trust in an off-chain entity with regulatory/consumer-protections power over the cryptocurrency.
ethereums PoS as I understand it, is indeed capitalistic - however it doesn't need to be! At least one group is looking into quadratic staking, where people get diminishing returns on staking. (Then you have to solve Sybil Attack...)
Look, I'm not working in this field, but I can't get why more fedi people are excited about the promise of leaderless decentralisation.
It feels like people sneering at the first mainframe computers...
I skimmed that article, which reads like one of the many other partisan pieces I've read.
There are issues, no one is denying that. A lot even. But "crypto" is not one thing, and people could do it better.
Just saying crypto is bad means we prevent ourselves from appropriating it for our causes (e.g. headless mietshauser syndikat, but global, idk). It's an essential value judgrment that limits us.
Dante Scanline 🏴:bop_cat: •
Doug Webb hat dies geteilt
Doug Webb •
Dante Scanline 🏴:bop_cat: •
but also from my perspective cash is for sure not energy free. it requires the entirety of the state to back up it's value (armies, police etc). i also see the problems with capitalism (speculation, mass accumulation, profit) as a direct consequence of state society
Dante Scanline 🏴:bop_cat: •
jaxter184 •
Doug Webb •
I just get very strong "throwing the baby out with that bathwater" vibes on the topic in fedi.
jaxter184 •
sometimes the bathwater is just bathwater.
thicc shady •
Jasper •
Blockchain re-inforces it and that's one of the big problems with it.
Doug Webb •
Look, I'm not working in this field, but I can't get why more fedi people are excited about the promise of leaderless decentralisation.
It feels like people sneering at the first mainframe computers...
thicc shady •
Doug Webb •
There are issues, no one is denying that. A lot even. But "crypto" is not one thing, and people could do it better.
Just saying crypto is bad means we prevent ourselves from appropriating it for our causes (e.g. headless mietshauser syndikat, but global, idk). It's an essential value judgrment that limits us.