this post was submitted on 20 Aug 2023
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Block chain - there's still no legitimate practical use for it
I wouldn't agree, but I have no example in mind, so I agree (?)
A legitimate practical use is anonymised online transactions using cryptocurrencies designed for such purposes (like Monero)
To buy drugs, guns and hitmen right? Otherwise stick to paypal m8.
Might as well use reddit if you cant see a little (if not a lot) of benefit to using something decentralized over its centralized counterpart.
The anonymous aspect and lack of fees/operation should be self explanatory.
The problem is that is used for illegal shit moslty. Be it the aformentioned or scams. And the problem is that money as a concept is centraliced and controled by whatever entity holds the most of whatever is based on, be it gold or whatever. It shouldnt but it is. And the whole " you better use reddit since you suck centraliced feet" thing, to that i say to you grow up.
Cash is used to buy most illegal shit. Which doesn't mean we should abolish cash. And if you can't see the risks in governments and corporations tracking every little expense of yours, well you have a very low threat model. But don't assume that anonymous transactions and tools are only useful to criminals, because minorities, journalists and whistleblowers use them every day to avoid prosecution under authoritarian governments.
I didnt say they werent usefull for other activities, i sayed its main use is for criminal activity, and i didnt sayed nor imply that it should be abolished. And money abolition in an of itself i suport acctually, but that would imply private property abolition, witch would be nice if it was made in a sociodemocratic way but with the current state of affairs i doubth it. And also i know that you where arguing it in bad faith as a wathabaoutismso that makes me think you already decided im wrong, so what is a man? A misserable little pile of secrets, but enough talk, have at tee (not really thoug). And while i too worry about privacy and fully suport it, but money in itself is not private since is part of the stablishment and what keeps it going. Block chain is a technology that solves an already solved issue in a very clever, but enviormentally hostile way. And since is outside of banks and control from the government, its gonna be the wild west in more litteral ways than one, since its mainly adopted by criminal organisations and outlaws, but it still is usefull for the type of people you already mentioned. So imo its not gonna be the future of finances or ownership on the internet that would be the abolotion of digital ownership when it comes to software, not privacy, and besides, an argument i hear a lot for bñockchain is that you will be able to sell used dogotal goods like videogames and other media...do you really whant that? To buy used software? Why not buy it directly from the publisher? Do you think the publisher is gonna allow you to do that? Besies Some one is gonna torrent it somewere on the internet, the fact that is digital and can be copyed with no limit and it doesnt degrade kinda solves scarcity, at least on a digital level, so... yeah, all of this is kinda meaningless when you take that into account i think.