/thread
Opinion on cryptocurrency?
Jaxon Fisher
Austin Morris
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Anthony Reyes
Cryptocurrency becoming a global standard would be brilliant for accelerating the contradictions of capitalism. We'll be living under socialism in no time at all. It won't happen though. The bourgeoisie aren't that stupid.
David Hall
A cool piece of software for drawing won't produce cool pictures if it isn't used by anybody or people who are lazy and got no talent. Likewise, no amount of programmer brilliance can make trading software work if everybody is an absolute shithead. Trading is a social phenomenon linked with production, which is also a highly social process despite what the ruling ideology tells you. A lot of what makes society work is patterns of behavior by masses of people that "libertarians" just take for granted or aren't even aware of.
The concept of proof of work in Bitcoin should really be called proof of waste, since it serves 0 other purpose besides creating the proof. There's an alternative called Gridcoin that actually uses the calculations for something else than just doing random shit, but I haven't looked deeper into it. Proof of stake doesn't look that great either, it just rewards the haves and punishes the have-nots.
I don't want to have electronic coins for their own sake, I want to obtain products and services. And I want to avoid disagreements and disappointments, and if something like that happens anyway, I want to have some avenue for dealing with scammers. Bitcoin and similar concepts don't really do anything about that. It is foolish to focus so much on technical innovation here, since they can't really solve the basic issue, which is social. Impressive tech with a shit community gets beaten by mediocre tech with a nice community.
Bentley Long
Cameron Peterson
I find blockchain to be an incredibly wasteful way of record keeping. Even if it were usedin non crypo applications it would still be wasteful. Centralization is much more energy and storage efficient than the distributed approach of blockchain.
Jaxon Watson
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Brody Bailey
SHUT THE FUCK UP
HOMOSEXUAL
Jackson Young
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Ryan Walker
Will never be anything more than a speculative commodity without a state involved. It's a state's ability to tax in the form of its currency that gives real currencies stability and meaning.