this post was submitted on 02 Sep 2024
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Are we so hive-minded here on Lemmy that we have been brainwashed into hating crypto so much that we, a DECENTRALIZED community, have decided to start a centralized service to pay posters rather than use the trustless, decentralized systems literally DESIGNED for that purpose that already exist?
All crypto isn’t a scam, people. Stop scoring own-goals against the big banksters and do your part against crypto scams by thoroughly vetting crypto projects before you put your trust in them rather than blindly believing that they’re ALL out to scam you.
This idea should obviously be implemented with cryptocurrency but of course it isn’t because of our unfounded vilification of an entire industry that is clearly more philosophically aligned with the principles of the fediverse than centralized, legacy systems that we’ve been duped into continuing to support.
🤦
All (capitalistic) money is a scam.
We’re just forced to use a currency because governments say so.
So yes, your crypto is still a scam. Because money still vanishes into thin air when line goes down.
Let me ask you this then: How do you think servers will continue to run? Do they run for free on fairy magic?
I don’t live in a communist country. So, I fail to see your point about money being a scam. Yes. Of course. But I can’t tell my landlord that money is a scam. He will want money for me to continue not being homeless.
3rd generation cryptocurrencies are an attempt to decentralize and democratize computation. If you have a better way to pay people for use of their servers, I’d be happy to hear it but right now you are literally using a server that runs because someone decided to do so for free. It won’t always be that way when this technology scales beyond one server operator’s practical limit. We will need ways to pay people for the use of their electricity and hardware. If you can think of a better way that ISN’T fraught with corruption, centralization, and loss of anonymity, I’d love to read it.
Can you see how “there’s not a better solution” isn’t addressing the problem that crypto is fundamentally a scam?
Also, you can’t pay your rent with crypto either….
EDIT: if you want crypto to pass my sniff test, you have to explain where value comes from.
Fiat currency is valuable because I can pay my taxes with it. (This is really the only reason it has value).
So what underpins crypto value beyond “it’s the future”
I mean, I don’t need to do anything. As you implied, it’s similar to any currency. If no one holds it or accepts it, it doesn’t have value. The only reason the US dollar has any value is the military force behind it.
Thankfully, crypto is able to offer something back in exchange for leveraging the greater fool fallacy as a system of security. It actually DOES something that will be valuable to society someday (and let’s be real that day is not today since not one DApp has really gone mainstream..but when they do, you might not even know it).
It serves as a world computer that cannot be censored, stopped, or bent to the will of any one nation or world power and all people need to do is buy into that greater fool fallacy to sustain that illusion. It’s strange and I get your point. But luckily I don’t need to convince you. There are already enough fools greater than I to sustain this thing ad infinitum.
For example, how long do you think people are going to keep paying Fanduel and Draftkings their undeserving cut when a crypto-based alternative that is equal or even superior in every way pops up? It’s only a matter of time. In that particular case: The only technology preventing it right now is an oracle that feeds the data from sports to a smart contract. This technology is in its infancy.
You have, perhaps, developed too strong an opinion too soon and will need time when it does pop up in mainstream use around you.