Comment on Bitcoin is Stupid and Does Not Deserve an Emoji (blog post)

TootSweet@lemmy.world ⁨1⁩ ⁨month⁩ ago

• mp3@lemmy.ca ⁨1⁩ ⁨month⁩ ago

  I loved the concept at first, the idea of a decentralized currency all handled by encryption, and transactions permamently stored in a public ledger for all to see.

  Then the cryptobros and the scammers caught wind of it and it’s all downhill from there.

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  • shortwavesurfer@lemmy.zip ⁨1⁩ ⁨month⁩ ago

    Scammers use the technology because it actually works and does what it says it does. And criminals and scammers and such are generally the first ones to adopt a new technology. Such as bank robbers adopting the automobile in order to get away faster.

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  • TootSweet@lemmy.world ⁨1⁩ ⁨month⁩ ago

    If you want the name of a payment techology that isn’t snake oil, isn’t blockchain-based, isn’t a cult, doesn’t claim to be a currency, doesn’t work on proof-of-work or proof-of-stake, but actually does provide certain privacy guarantees for your basic purchasing needs, is cryptographically secure, and can be used with only FOSS, I recommend looking into GNU Taler.

    The only downside is that it’s not really supported anywhere at all yet. But I do hope it becomes a real thing some day.

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    • mp3@lemmy.ca ⁨1⁩ ⁨month⁩ ago

      Thanks, I’ll read on it :)

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    • deafboy@lemmy.world ⁨1⁩ ⁨month⁩ ago

      GNU Taller is pretty fragile, though. One bank issues unbacked tokens and the credibility of the whole system goes down the drain. It’s the current financial system, just rebranded. Also, it promotes taxation which automatically makes it a cult & scam.

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      • TootSweet@lemmy.world ⁨1⁩ ⁨month⁩ ago

        One bank issues unbacked tokens

        1. The Taler protocol has bank auditors built-in.
        2. Your hypothetical would just as much apply to existing debit cards.
        3. Unbacked tokens. You mean like Tether? (Let alone Luna.)

        Also, it promotes taxation which automatically makes it a cult & scam?

        The fuck? How does Taler “promote taxation?”

        Fuckin’ Libertarians.

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    • radamant@lemmy.world ⁨1⁩ ⁨month⁩ ago

      Please describe how I can send the money to my mom in Russia (disconnected from SWIFT) with GNU Taler today. I’ll wait.

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      • TootSweet@lemmy.world ⁨1⁩ ⁨month⁩ ago

        I don’t know how I could possibly have been more explicit about it not yet being ready for any real-world use cases than I was.

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  • Melvin_Ferd@lemmy.world ⁨1⁩ ⁨month⁩ ago

    Did they or did a bunch of media get pushed that told us all what these crypto bros were doing like shitting on beaches and taking our jobs.

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