Cryptocurrency is a product of that underlying economy, it is in fact a refinement of the greed that drives it, and doesn't at all address the externalities.
-
-
Nope, this again is american delusions of grandeur, you think all great things come from you, this is simply not true. Nearly every cryptocurrency co-inventor or founder is non-american or of unknown nationality.
1 reply 0 retweets 2 likes -
Also ppl seem to assume cryptocurrencies are good for tax evasion and money laundering, this simply isn't true. As a European I have to go through extremely detailed audits of every transaction and I pay much higher taxes for crypto gains compared to stock trading.
1 reply 0 retweets 1 like -
I didn't say it was Americans who built cryptocurrency. I said it's built on top of the global economy, of which the US dollar economy is a huge component and driver. Today's crypto economy is more reflection of the worst excesses of that economy than an alternative.
1 reply 0 retweets 6 likes -
The more that I think about it, the more I see crypto as an alternative to the real economy in a similar sense that MLM is an alternative to the corporate world.
1 reply 0 retweets 8 likes -
There's some legit innovation, but a whole lot of bullshit, and probably significantly worse than that which it compares itself to, on the whole.
1 reply 0 retweets 4 likes -
Of course, people have high hopes for it and there are those who look to scam them, it's easier to get away with, what's needed is very strict regulation when it comes to those schemes
1 reply 0 retweets 1 like -
Agreed. I'm super interested in the field. I think it may yet deliver gamechanging tech infrastructure. I just think that right now, the hype and wishful thinking are so far past the reality, and the finanicialization at the core of the tech has led to a runaway feedback loop.
1 reply 0 retweets 0 likes -
Ethereum 2.0 with sharding and PoS is extremely capable though, think 10 times the TX volume of Visa, actually the TX volume is practically infinite, just add another shard. Will probably issues at various stages of expansion though.
1 reply 0 retweets 1 like -
Ethereum is in an interesting spot. It's both much more ambitious in its core capabilities than Bitcoin, yet maybe not as advanced as the crop of successor dApp chains. I'm intrigued whether they'll execute the 2.0 transition and retain leadership in the dApp world.
2 replies 0 retweets 0 likes
They have no way to connect the blockchain to events in the outside world. None of it can work without a central authority, which makes the whole thing laughable.
-
-
They kinda do, via oracles. But no ability to compel the external world to comply with the blockchain consensus, which is so costly to maintain.
0 replies 0 retweets 0 likesThanks. Twitter will use this to make your timeline better. UndoUndo
-
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.