Hi I hate capitalism, also please gain a better understanding before criticizing blockchain and ledger technology. I know all the headlines are making many of you upset, but also they have lots of misinformation.

I would love to read good critiques of cryptocurrency but its always ignorant in the way the right wing is ignorant about things. Think about the last time you argued with an ignorant chud. That’s a lot of these posts.

Rule of thumb if you don’t understand what it is don’t criticize it. Be angry all you want but when you do make criticisms it’s important that they land. Because there is a lot of really bad garbage. There’s also lots of good things like https://eva.coop/ https://yewtu.be/watch?v=_V7wThsAUs4 .

Anyway I don’t mean to scold too hard here. So I’m gonna provide some information.

NFT: A unique indivisible asset. could be a blockchain domain like .eth .crypto etc. Could be used for ID. Could also be used for speculation.

Smart contract: Lines of code used to program money, this could be used with stable coins to offer interest and replace banks.

Remember there are parts of the world where banks only serve the rich. This could also be use for encrypted messaging and email. Imagine if a company had to pay transaction fees to spam you. It would stop happening.

Stable coins: you know that thing no one seems to mention when they say it’s too volatile to use?

In general just stop grasping at straws because even the gravel institute gets it wrong here. https://yewtu.be/watch?v=0AAUrMuMPlo . Imagine throwing away credibility out of hatred and ignorance. It’s very disappointing.

Also mind you when payment processors shut down HRT for trans people often crypto gets used to bring life saving medicine to trans people.

  • null_radix
    1·
    3 years ago

    Proof-of-Stake is not an ideal solution because it reinforces the systems and organizations that already have influence and power, whether monetary or political, and pooling requires entrusting those parties with the crypto assets

    I would love it if someone could break down how this is any different the PoW’s mining pool. Also we need to clarafy which PoS system you are talking about. System that inhert from DPoS where you only have 1000 or so validators which users are required to delegate to, are not in my mind decentrilized and I think that statement make sense for those. Eth 2.0 on there other hand has no upper limit of fixed set size of validators. And there is no way to delegate to validators (by the base protocol, there are third party solution of this though).