Considering recent incidents on Mozilla and Ubisoft, why do people hate cryptocurrency so much?

    • nutomicA
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      3 years ago

      Try sending money to someone in a different country. Its extremely expensive and slow using traditional banks. With crypto you pay a few cents and its almost instant (depending on the coin).

      • Joe BidetA
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        3 years ago

        Ah! So it’s an ecocidal ponzi-scheme that replaces a financial elite by another one, is full of scams, gives false hopes of decentralizaion and anonymity, raises de price of electronic components worldwide… buuuut… it makes some of them save a few bucks every now and then. I guess it makes it OK then… :)

        • nutomicA
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          3 years ago

          I agree that cryptocurrency (and particularly Bitcoin) has lots of problems today. But it has a lot of potential, like replacing credit cards controlled by two major corporations. Unfortunately, it seems that everyone who works in the space is only focused on making short-term profit, and creating more problems through that.

          • Joe BidetA
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            3 years ago

            It had this potential for 10+y. Sometimes it is just time to call something “a loss” and move on… and try to fix what’s fixable…?

            • nutomicA
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              3 years ago

              If we are talking about Bitcoin specifically then I agree completely, I moved on from it years ago because its just badly managed. Its sad that no other crypto project has managed to replace it yet in terms of visibility and usage.

        • DessalinesA
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          3 years ago

          Proof of Work is the real culprit there, a lot of the 3rd generation (or whatever we’re on) cryptos use Proof of Stake, which doesn’t waste energy and destroy the environment by solving pointless math problems to validate transactions.

    • DessalinesA
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      3 years ago

      Exactly, for 99% of cases, its a solution without a problem.

      The only place where its useful is as @nutomic@lemmy.ml stated, where you need to send money to someone in a different country. But even then you have to deal with a not always easy hassle of converting it to your country’s currency.

    • tracyspcyM
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      3 years ago

      disintermediation in finance is one of important aspects of cryptocurrencies