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>How can we create a more equitable financial system, where everyone has access to banking services? I don't think Crypto is a "more equitable financial system" but it is a more equal one.
Waaay back, I thought Bitcoin was a cool technology, and convinced some friends of mine with businesses to accept it. We had a lot of fun with it - it was really cool to pay for your beer by scanning a QR code and seeing the transaction come through this public, distributed, tamper proof ledger, like magic, with no need for money, banks or any of the other financial infrastructure we're used to. Sadly, the "crypto sp…
I saw this happen with the early internet, and then later with crypto... It took a long time for the Internet to go from 1) only know to geeks to 2) grifters promising the world to 3) wider acceptance. Maybe this will happen too with crypto, but until it sorts out its grifter problem, it will be always be stuck at stage 2.
TIL: Being critical of a technology whose fundamental implementation promotes extreme negative externalities is "toxic"
Earlier quoted context omitted.
To me it had leftist anarcho roots, but whatever floats their boat, I guess.
And on my desk as I type, a slim volume entitled "The politics of bitcoin : Software as right-wing extremism". To be fair, it seems to be more about some bitcoiners rather than bitcoin itself. I suspect but cannot prove that we could argue any political leanings we like.
To be honest, I don't know much about BTC. I'm coming from the Ethereum side of things.
It's just tech. If people like it, it belongs to their political side. If they resent it, it belongs to a political side they also resent.
Waaay back, I thought Bitcoin was a cool technology, and convinced some friends of mine with businesses to accept it. We had a lot of fun with it - it was really cool to pay for your beer by scanning a QR code and seeing the transaction come through this public, distributed, tamper proof ledger, like magic, with no need for money, banks or any of the other financial infrastructure we're used to. Sadly, the "crypto sp…
This. I saw this happen with the early internet, and then later with crypto... It took a long time for the Internet to go from 1) only know to geeks to 2) grifters promising the world to 3) wider acceptance. Maybe this will happen too with crypto, but until it sorts out its grifter problem, it will be always be stuck at stage 2.
Waaay back, I thought Bitcoin was a cool technology, and convinced some friends of mine with businesses to accept it. We had a lot of fun with it - it was really cool to pay for your beer by scanning a QR code and seeing the transaction come through this public, distributed, tamper proof ledger, like magic, with no need for money, banks or any of the other financial infrastructure we're used to. Sadly, the "crypto sp…
We have seen BTC and ETH lose their function as internet money as transactions and prices have gone up.
Waaay back, I thought Bitcoin was a cool technology, and convinced some friends of mine with businesses to accept it. We had a lot of fun with it - it was really cool to pay for your beer by scanning a QR code and seeing the transaction come through this public, distributed, tamper proof ledger, like magic, with no need for money, banks or any of the other financial infrastructure we're used to. Sadly, the "crypto sp…
This. I saw this happen with the early internet, and then later with crypto... It took a long time for the Internet to go from 1) only know to geeks to 2) grifters promising the world to 3) wider acceptance. Maybe this will happen too with crypto, but until it sorts out its grifter problem, it will be always be stuck at stage 2.
Bitcoin is over 10 years old.
>How can we create a more equitable financial system, where everyone has access to banking services? I don't think Crypto is a "more equitable financial system" but it is a more equal one.
If you want a bank with a publically accessible ledger, fine, build it, or have your government publish all banking transactions. But don't pretend bitcoin can be an alternative to the current banking system.
TIL: Being critical of a technology whose fundamental implementation promotes extreme negative externalities is "toxic"
The author is incredibly critical of these technologies, and very much does not like them. The article mentions this.