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Re:Cryptocurrency is something people tell lies about in hop... by krageon on Friday September 24, 2021 @09:19AM (#28641920)
> centralized

If you want to trust a conglomerate of folks who have a vested interest in keeping you small and poor to solve your problems, then there is no advantage. If you do not, then the advantage is exactly that it is not centralised.

Re:Cryptocurrency is something people tell lies about in hop... by acomms on Friday September 24, 2021 @09:29AM (#28642057)
Why are you so convinced that cryptocurrency solves the "outside forces much larger and more powerful than me have influence over the system" problem? It exchanged a solution to some problems for a new set of problems to be solved.
Re:Cryptocurrency is something people tell lies about in hop... by krageon on Friday September 24, 2021 @09:37AM (#28642162)
You are questioning what I'm saying by telling me something incredibly vague. I'm afraid I just don't know what to do with your question.
Re:Cryptocurrency is something people tell lies about in hop... by secondaryacct on Friday September 24, 2021 @04:18PM (#28647327)
I can rephrase it: why do you think it impossible for vastly resourceful entities to acquire so much power they can control the decentralized system - in a softer way, probably but still.

Imagine a world tmr where bitcoin is everywhere. You ll have mining conglomerates in the cheapest electricity providers working as cartels to help each other and protect their interests (so can envision centralizing a blacklist of addresses they dislike, coordination on software version etc), de facto cartels of whales (like todays "billionaires" people describe as a collaborative force), and large lenders who concentrate capital and therefore still can buy out whatever they want (today called banks).

How do you think the blockchain solve any of that?

Re:Cryptocurrency is something people tell lies about in hop... by megameter on Friday September 24, 2021 @10:29PM (#28649942)
It's easy. Copy-paste the blockchain and start over with a fork. When the system delegitimizes itself, a debt jubilee lies around the corner. This stuff is just glue now - a cheap way of making a financial system.
Re:Cryptocurrency is something people tell lies about in hop... by DangitBobby on Saturday September 25, 2021 @01:43PM (#28654857)
So if you don't like the history of the currency, scrap it entirely and start over. That seems like the opposite of the point of Blockchain.
Re:Cryptocurrency is something people tell lies about in hop... by imtringued on Friday September 24, 2021 @02:09PM (#28645882)
What keeps people small and poor is the insistence that people should save in monetary terms.

It's not rocket science. When you keep your wealth in monetary terms, you don't get to have it in physical terms. Money represents how much real wealth you could have if you spent it. It's deferred consumption. There is no real wealth in something that didn't happen.

Re:Cryptocurrency is something people tell lies about in hop... by Cipater on Sunday September 26, 2021 @02:18AM (#28658800)
Money is a store of value. Money is a measure of wealth.