jones wrote:
Klaus wrote:
The nature of bitcoin makes it utterly useless as a currency. It's an investment scheme and that's all it's ever going to be. A prohibitively expensive one too in terms of power supply and environmental impact.
Exactly. If you can get on board and off it early enough you can make some money with it, but you're pouring money into a toxic garbage heap in the process. Bit surprised at Coombs stance regarding the good part of it because I'm yet to come across any good of it
Bitcoin on its own is basically just a proof of concept (as well as a disruption/critique of fiat currency). The rest of the sector has a lot of very interesting projects, whose ideas already have changed the way we think and operate. There are ways to retain real ownership of digital assets, dismantle centralized banking, give workers ownership of their workplaces, enforce fair trade with origin tracking, support independent journalism, etc. as well as a bunch of libertarian and ultra-capitalist ideas like privacy coins to hide money from the tax man, etc.
What I'm most interested in are decentralized, immutable methods of currency governance democratically determined by the people that use it, coupled with the idea of use-based currencies that actually do something in the world. Obviously most crypto projects don't meet that second criteria yet and the whole thing is investment and profit driven right now, but loads of projects don't pay attention to that as much as they look for funding to continue the work. Loads of others are just scams looking to rob people. You know, like most of the world.
