Blockchain is not only crappy technology but a bad vision for the future
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Re: Blockchain is not only crappy technology but a bad vision for the future
#2>>Let’s start with this: Venmo is a free service to transfer dollars, and bitcoin transfers are not free.
Is the author really unaware of the horror stories of Venmo and PayPal freezing customer accounts?
Articles like this want a return to serfdom, under the control of officialdom. There is no other conceivable reason why someone would not want people to have at least the option of taking custody over their own money, in a form more useful than physical cash.
Re: Blockchain is not only crappy technology but a bad vision for the future
#3>>Let’s start with this: Venmo is a free service to transfer dollars, and bitcoin transfers are not free. Is the author really unaware of the horror stories of Venmo and PayPal freezing customer accounts? Articles like this want a return to serfdom, under the control of officialdom. There is no other conceivable reason why someone would not want people to have at least the option of taking custody over their own mone…
>Articles like this want a return to serfdom, under the control of officialdom
Ironic thing to state given the reality of hash power distribution and supply of bitcoin that actually moves compared to the total
>in a form more useful than physical cash.
Something that is never used equivalently to physical cash cannot be more useful than it. Basically nothing is priced in bitcoin or crypto
Re: Blockchain is not only crappy technology but a bad vision for the future
#4>>Let’s start with this: Venmo is a free service to transfer dollars, and bitcoin transfers are not free. Is the author really unaware of the horror stories of Venmo and PayPal freezing customer accounts? Articles like this want a return to serfdom, under the control of officialdom. There is no other conceivable reason why someone would not want people to have at least the option of taking custody over their own mone…
Maliciously freezing accounts is a result of bad regulation. Overbearing regulation that on one hand encourage companies to be extremely risk-averse and prone to many false positives, and on the other hand not enough consumer-focused regulation that would allow consumers recourse in case things go wrong (false positive or outright malicious theft of funds).
Both can be resolved without blockchain.
Re: Blockchain is not only crappy technology but a bad vision for the future
#5>>Let’s start with this: Venmo is a free service to transfer dollars, and bitcoin transfers are not free. Is the author really unaware of the horror stories of Venmo and PayPal freezing customer accounts? Articles like this want a return to serfdom, under the control of officialdom. There is no other conceivable reason why someone would not want people to have at least the option of taking custody over their own mone…
> Is the author really unaware of the horror stories of Venmo and PayPal freezing customer accounts?
Can as example coinbase do the same?
> want a return to serfdom
From my point of view serfdom is the (block)chain. Only people with enough stake or those who pays are in control.
Re: Blockchain is not only crappy technology but a bad vision for the future
#6More bad takes from people who don't understand the point of Bitcoin and its blockchain. It's all so... tiresome.
The fact that the author is comparing to services like Venmo or PayPal really goes to show how much they don't understand about what Bitcoin was built to achieve.
Also goes to show that people like the author should also check their financial privilege: https://bitcoinmagazine.com/culture/check-your-financial-pri...
FYI the author of this ^ article is the Chief Strategy Officer at the Human Rights Foundation. All his articles on that site are worth reading to gain a more global perspective of what Bitcoin is doing outside of the western hemisphere.
Re: Blockchain is not only crappy technology but a bad vision for the future
#7>>Let’s start with this: Venmo is a free service to transfer dollars, and bitcoin transfers are not free. Is the author really unaware of the horror stories of Venmo and PayPal freezing customer accounts? Articles like this want a return to serfdom, under the control of officialdom. There is no other conceivable reason why someone would not want people to have at least the option of taking custody over their own mone…
> Is the author really unaware of the horror stories of Venmo and PayPal freezing customer accounts? Can as example coinbase do the same? > want a return to serfdom From my point of view serfdom is the (block)chain. Only people with enough stake or those who pays are in control.
>From my point of view serfdom is the (block)chain. Only people with enough stake or those who pays are in control.
I disagree with this but even if one assumes this to be the case, I'd much rather prefer a monetary system subject to the control of free market forces rather than the modern monetary system which is subject to a small group of unelected and unaccountable technocrats operating under the feeble assumption of central bank independence and whose power is extended through coercion and not voluntary association.
Re: Blockchain is not only crappy technology but a bad vision for the future
#8>>Let’s start with this: Venmo is a free service to transfer dollars, and bitcoin transfers are not free. Is the author really unaware of the horror stories of Venmo and PayPal freezing customer accounts? Articles like this want a return to serfdom, under the control of officialdom. There is no other conceivable reason why someone would not want people to have at least the option of taking custody over their own mone…
> There is no other conceivable reason why someone would not want people to have at least the option of taking custody over their own money
You're attacking a straw man here. The author doesn't argue for eliminating the blockchain or crypto assets.
His thesis is that blockchain hasn't gained significant traction (for anything other than speculation, especially as people panic about USD inflation) because people don't want to decentralize trust. They inherently like institutions and want institutions they can trust.
> in a form more useful than physical cash
Literally the whole point of the article is to argue that Bitcoin (and other crypto "currency") is less useful than cash and less appealing to consumers. He is also arguing that this is inherent to the technology itself and will never change.
Nothing is ever going to replace fiat if it's deflationary, and no one is going to "invest" (i.e. buy and keep) a digital fiat replacement unless it's deflationary. It's a catch-22 that digital assets can't solve.
Re: Blockchain is not only crappy technology but a bad vision for the future
#9>>Let’s start with this: Venmo is a free service to transfer dollars, and bitcoin transfers are not free. Is the author really unaware of the horror stories of Venmo and PayPal freezing customer accounts? Articles like this want a return to serfdom, under the control of officialdom. There is no other conceivable reason why someone would not want people to have at least the option of taking custody over their own mone…
we've steadily moved away from serfdom under centralized government and banking for centuries.
yet suddenly because of the actions of a couple private companies, we're going to suddenly go back to serfdom? This makes no sense.
it's impossible to go back to serfdom - the economy is too large and diverse and people are too literate.
sorry, but this is just a doomer fantasy at best
Re: Blockchain is not only crappy technology but a bad vision for the future
#10Earlier quoted context omitted.
> Is the author really unaware of the horror stories of Venmo and PayPal freezing customer accounts? Can as example coinbase do the same? > want a return to serfdom From my point of view serfdom is the (block)chain. Only people with enough stake or those who pays are in control.
>From my point of view serfdom is the (block)chain. Only people with enough stake or those who pays are in control. I disagree with this but even if one assumes this to be the case, I'd much rather prefer a monetary system subject to the control of free market forces rather than the modern monetary system which is subject to a small group of unelected and unaccountable technocrats operating under the feeble assumptio…
If crypto replaces fiat can you really say it is voluntary still if you need to pay your taxes in bitcoin or whatever currency your government wants to collect to pay for things?