Comment on Bitcoin is Stupid and Does Not Deserve an Emoji (blog post)
mp3@lemmy.ca 3 months agoI 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.
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.
Thanks, I’ll read on it :)
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.
One bank issues unbacked tokens
Also, it promotes taxation which automatically makes it a cult & scam?
The fuck? How does Taler “promote taxation?”
Fuckin’ Libertarians.
Unbacked tokens. You mean like Tether?
Exactly like Tether. USDT was never backed 1:1 by USD. They don’t even try to deny it anymore. They admit it’s backed by “various assets, including BTC”, which smells like a market manipulation.
How does Taler promote taxation?
“Customers can stay anonymous, but merchants can not hide their income through payments with GNU Taler. This helps to avoid tax evasion and money laundering.”
Please describe how I can send the money to my mom in Russia (disconnected from SWIFT) with GNU Taler today. I’ll wait.
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.
It will never be ready. It doesn’t even make sense. To transact with real fiat like the US dollar, you’ll have to go through an official on-ramp and an off-ramp of the respective government. And to do an international transaction you’ll have to use one of the widely accepted systems like SWIFT. GNU Taler doesn’t appear to address anything like that. Anyhow, my comment was made with the premise of this whole thread in mind, i.e. “Bitcoin is stupid” or “snake oil”. Yet there’s no alternatives to what crypto provides. So is it that stupid after all?
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.
shortwavesurfer@lemmy.zip 3 months 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.