Dogecoin's inventor looks to the past for insight into the future
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Dogecoin's inventor looks to the past for insight into the future
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Re: Dogecoin's inventor looks to the past for insight into the future
#2>"To deliver a peer-to-peer alternative to cash that, through decentralization, did away with the need for trust in financial institutions, which the 2008 crisis showed to be unscrupulous, and often corrupt."
The sort of activity which led to the financial crisis would not be mitigated by the establishment of a decentralized currency. Decentralization would not do away with the need for financial institutions (or the toxic incentives that can drive them and the ecosystem in which they exist).
The USD is pretty decentralized already. Sure the money supply itself is centralized, but the USD is a functioning currency because all people who accept and deal in dollars accept the fact that the dollar is a currency. We're all decentralized nodes in the Fiat network.
Re: Dogecoin's inventor looks to the past for insight into the future
#3It may have been meant as a joke but it has a purpose. but it's become a base market in several exchanges.
Re: Dogecoin's inventor looks to the past for insight into the future
#4>"To deliver a peer-to-peer alternative to cash that, through decentralization, did away with the need for trust in financial institutions, which the 2008 crisis showed to be unscrupulous, and often corrupt." The sort of activity which led to the financial crisis would not be mitigated by the establishment of a decentralized currency. Decentralization would not do away with the need for financial institutions (or the…
(author here) I agree! I was calling out Bitcoin's initial goals in the article but don't 100% align with them myself. Financial institutions came to exist for a reason and I'm really not on board with everyone "being their own bank" as I feel it'd be a step backwards from what we have today.
What I do agree with is the need for more audit-able, accountable systems so the institutions we trust are less susceptible to corruption.
Re: Dogecoin's inventor looks to the past for insight into the future
#5Key take-away:
> Once the cryptocurrency price bubble pops and takes all the hype with it, will the community be able to recover the energy it needs to build real, innovative technology once again?
Re: Dogecoin's inventor looks to the past for insight into the future
#6It may have been meant as a joke but it has a purpose. but it's become a base market in several exchanges.
Then those exchanges have no purpose.
Re: Dogecoin's inventor looks to the past for insight into the future
#7>"To deliver a peer-to-peer alternative to cash that, through decentralization, did away with the need for trust in financial institutions, which the 2008 crisis showed to be unscrupulous, and often corrupt." The sort of activity which led to the financial crisis would not be mitigated by the establishment of a decentralized currency. Decentralization would not do away with the need for financial institutions (or the…
(author here) I agree! I was calling out Bitcoin's initial goals in the article but don't 100% align with them myself. Financial institutions came to exist for a reason and I'm really not on board with everyone "being their own bank" as I feel it'd be a step backwards from what we have today. What I do agree with is the need for more audit-able, accountable systems so the institutions we trust are less susceptible to…
Are you sure that was Bitcoin's initial goal? Or just speculation from early adopters?
In the actual white paper, Satoshi does not mention any of this, although like you, I do remember these motivations being used very early on. I don't know their origin, but Satoshi simply talks about non reversible transactions, in the context of payments over the Internet.
Re: Dogecoin's inventor looks to the past for insight into the future
#8It may have been meant as a joke but it has a purpose. but it's become a base market in several exchanges.
Uh?
What exchanges?
I've never seen a DOGE to anything.
Right now, BTC is the most popular. ETH is second most popular. I know some exchanges support monero, but those are very limited in what can be converted.
Re: Dogecoin's inventor looks to the past for insight into the future
#9>"To deliver a peer-to-peer alternative to cash that, through decentralization, did away with the need for trust in financial institutions, which the 2008 crisis showed to be unscrupulous, and often corrupt." The sort of activity which led to the financial crisis would not be mitigated by the establishment of a decentralized currency. Decentralization would not do away with the need for financial institutions (or the…
>The USD is pretty decentralized already
People are insane.
Fiat currency is the definition of centralized currency
Re: Dogecoin's inventor looks to the past for insight into the future
#10Key take-away: > Once the cryptocurrency price bubble pops and takes all the hype with it, will the community be able to recover the energy it needs to build real, innovative technology once again?
Yeah because most people are putting fun money into the alt-coins.
As long as people bought bitcoin and ethereum, they probably will end up positive.
The people that are riding on 3 month old coins like IOTA or TRON will lose. Those risking everything on the future of Ripple or BCH or 1-2 specific coins will lose.
Those that diversify impartially will come out major winners.