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#and how many people genuinely don't understand that volume and mass are different
pancakeke · 2 months
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US americans, we have got to destroy or dumbass systems of measurement.
drug dealers are too good to put up with this shit so why do the rest of us accept it.
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pissdykebutch · 3 years
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Im genuinely glad that cryptocurrencies seemed pretty doomed to failure in the long run, because on top of the environmental stuff, the entailements that follow from a hypothetical crypto currency system based off what we've observed from crypto economies is genuinely horrifying.
A lot of the sypport for crypto in the 2010s was around it's supposed decentralized nature. Anyone could mine at home, given a functioning computer and an internet connection, in many circles bitcoin was purported to be a reliable future alternative to government control and international inequality.
What we've seen is the exact opposite of that. What crypto currencies exist and how they work and their veritability is quite frankly information that 99% of people born before 1960 don't understand, and even among younger generations, the vast majority of us dont know what coins are reliable if we even know what exists. Furthermore there's so much misinformation intentionally broadcasted by people invested in scamming others, that means you have to verify your sources, in order to verify that a current you use won't disapear overnight. Even from a language perspective, the vast majority of cryptocurrency projects and information discussing it is highly technical english, quite frankly, really defeating the notion of a universal currency addressing global inequality.
And the thing is it can't ever be a universal currency, what we have instead are thousands of projects, not even including nfts that are unique categories of "currency." So even if you don't care about mining or using crypto for trading, you have to do research to have money in your wallet. And sure, you could say fuck it, i want to use my countries officially currency exclusively. And you can, but at that point we would presumably have hundreds of national currencies being exchanged with thousands of highly volatile crypto currencies, among some presumably more stable cryptocurrencies, so even if you have an effective stable national currency, the metric for which we purchase things would likely be volatile. How do your pay your taxes if the exchange rate changes so much that it's often just a better deal to wait. How do you plan for retirement if there's a seemingly stable currency with increasing worth that makes banks look like a cheap deal? What do you do if you're away from technology for a week and all of a sudden it dips a bit more than usual and crashes in the coming days, because everyone else put their retirement money in the coin.
If we really are genuinely using crypto currency in the future somehow, what do we do if our chosen currency tanks because the companies behind them shut down, or change management or get bought by other companies who run them differently. Can you really trust a coin, to have a secure blockchain without a good team behind it? If proof of stake mining is so much more viable than proof of work blockchains at critical mass, can we really expect the corporations creating this tech to make that change correctly?
Can you even trust the blockchain, if the mining industry gets monopolized? Sure forging the blockchain is hard, but this technology that was supposedly created with the intent to slowly disperse new currency to home miners, has long been overcast in volume by corporate mining. What happens when a company designs their own propietary computer hardware they don't sell and does it better than anyone else? What happens when a blockchain no longer contains people mining at home because it's too expensive? What's stopping the mining companies from monopolizing priting money, or a mining company and a cryptocurrency creation company from rigging the system in both of their favor.
Obviously, the environmental impact is horrendous, and while it's current impact is maybe not as massive as other industries, it is certainly more wasteful, because we already have flawed but better currency systems. I want to just TLDR this by saying that cryptocurrencies promise a universal currency as an alternative for the citizens of the world, but that's not they are and it's certainly not we'll get if we keep buying into it. Instead we'll get a confusing and volatile array of half currencies/half investments we can't even count, and we just have to take it at the corporations' word that they won't monopolize, that they won't rig the game in their favor, that the blockchain is secure and the horrendous resources it takes to maintain the blockchain aren't all going through a corporation's pocket.
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id0l-atry · 6 years
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