Today I stumbled upon a very intersting (but also lengthy) blog post discussing currencies (crypto and fiat).
Thought provoking.
I definitely recommend reading it.
If anyone has any opinions on what is being said I'd be interested to hear them.
I'm not entirely sure what to make of the article, but points out a lot of interesting things which might be very relevant now that trump was elected.
@serapath "If you want to compare Bitcoin to something else, compare it to fire, the number zero, the wheel, the printing press, or electricity." Sorry this is just hilarious
I agree that this is a rather funny comparison.
The main idea for it - i assume - is that there is no central issuer, it is decentralized and limited in supply. That has never been achieved in history, even if you wanted, nobody could create such a mechanism.
I think it could end capitalism
@serapath @powersource Sorry, but this is just completely false. Early forms of money were often collectively-managed exchanges of value where the money was based on existing things and a mutual agreement about their value. There was no central issuer. These kinds of systems were even cited as an inspiration for Bitcoin!
we also didnt always have capitalism in its current form and we did not have billionaires either.
i am not sure how far back you are thinking... must be at least several hundreds or more years.
i do think we are where we are today, because those older versions of "commodity money" i guess broke down ... or if we are talking accounting... once a specific scale is reached, corruption kills it seems evident.
@serapath @powersource Yes, but this is precisely the point I am trying to make. Those systems *did* break down, and I do not see a reason to believe that cryptocurrency will be magically immune from this (and I would argue that it has reached this state in record time, looking at the state of the cryptocurrency world).
Point being, cryptocurrency and its vision of "P2P money" will not fix any of these problems. It simply cannot. The problem isn't with the choice of currency or issuance in the first place.
i agree with shitcoins and cryptocurrencies.
they went to shit and scam all day long.
but butcoin is the oldest and just now reached again, consistently a new all time high.
the scams happen in shitcoins is my observation.
"but butcoin is the oldest and just now reached again, consistently a new all time high.'
This is evidence that things with it are going *badly*, given that adoption is not actually growing (and has actually shrunk over the years).
Honestly it feels like you're being dazzled by the exchange rate, in the "number go up" sense. I'm not going to have a discussion about cryptocurrency on that basis.
i havent said anything about "number go up", "buy buy buy".
has adoption shrunken over time? i dont believe that. more countries (BRIC), more companies (alao mainstream) and some more people than 5 years ago or 10 years ago or 15 years ago are buying.
i just recently watched a short clip on CNBC
https://youtu.be/QUJNIMh3sMA?si=Awjm9wChQUzt6qZo
what do tou mean by adoption, despite all time high, would be less?
also the most people are aware of it now compared to the past.
...BUT: ..
@serapath @powersource Yes, adoption has shrunk over time. But to be honest I don't think this conversation is going anywhere, you seem far too invested in believing that Bitcoin is doing well.
(And I say this as an early adopter who *to this day* continues to be paid in BTC by a customer, and continuously experiences the frustrations of dealing with it)
i for example dont get paid in BTC.
what you say sounds interesting but still.
here is a CNBC show. even countries/governments adopt it now.
its a 6 minutes clip
https://youtu.be/QUJNIMh3sMA?si=Awjm9wChQUzt6qZo
@serapath @powersource I am not going to watch Bitcoin propaganda. I am very well aware of the tendency for enthusiasts to selectively spread around 'success stories' while being suspiciously quiet about the failure stories. I am extremely close to the cryptocurrency world and I know what the true dynamics are.
@serapath @powersource And to be clear, I have absolutely no intention of following the usual "look at how great Bitcoin is" playbook. I've tried to argue these things with people for literal years, and I am done. It is a waste of your time and mine.
maybe there are other properties you could name that make it worse than status quo capitalism.
maybe i get some of the properties wrong.
i'd be interested to learn.
i am not religious about it, just trying to discuss facts and willing to listen to different takes
..in the end, i am poor, i dont really care, if there is something better than bitcoin, i am happy about it, but i know a lot of things seemingly much worse and i am sick of capitalism to be honest
@joepie91 @powersource
i am not saying bitcoin is great or the best.
i am sure something much better is probabpy possible. all i am pointing out is properties of bitcoin, like
1. open source
2. 21 million hard limit
3. no money printers for a privileged class of billionaires
4. permissionless use for every human
...banks are closed source
...not everyone gets a bank account, most dont
...billionaire class prints more for themselves
...infinte supply for the peivileged and inflation for others