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Re:Blockchain is not only crappy technology but a bad vision... by timeon on Tuesday January 18, 2022 @07:46AM (#29978211)
> Is the author really unaware of the horror stories of Venmo and PayPal freezing customer accounts?

Can as example coinbase do the same?

> want a return to serfdom

From my point of view serfdom is the (block)chain. Only people with enough stake or those who pays are in control.

Re:Blockchain is not only crappy technology but a bad vision... by Qasaur on Tuesday January 18, 2022 @07:51AM (#29978262)
>From my point of view serfdom is the (block)chain. Only people with enough stake or those who pays are in control.

I disagree with this but even if one assumes this to be the case, I'd much rather prefer a monetary system subject to the control of free market forces rather than the modern monetary system which is subject to a small group of unelected and unaccountable technocrats operating under the feeble assumption of central bank independence and whose power is extended through coercion and not voluntary association.

Re:Blockchain is not only crappy technology but a bad vision... by kemotep on Tuesday January 18, 2022 @07:58AM (#29978325)
If crypto replaces fiat can you really say it is voluntary still if you need to pay your taxes in bitcoin or whatever currency your government wants to collect to pay for things?
Re:Blockchain is not only crappy technology but a bad vision... by goesnowhere on Tuesday January 18, 2022 @09:01AM (#29979183)
Look up wildcat banking. Being "subject to the control of free market forces" is not a good thing for working class folks who only hold onto currency.
Re:Blockchain is not only crappy technology but a bad vision... by CryptoPunk on Tuesday January 18, 2022 @09:24AM (#29979542)
Re:Blockchain is not only crappy technology but a bad vision... by bko on Tuesday January 18, 2022 @08:15AM (#29978535)
> For instance, you can't use Venmo if you're under 18 (sorry, kids). And several Venmo users told BuzzFeed News that the company suspended their accounts and held their funds after they wrote silly captions to friends or tried to sell something to a friend — like a used computer. [0]

Lots more examples in the article.

Also they regularly kick off sex workers [1]

[0] https://www.buzzfeednews.com/article/leticiamiranda/people-a...

[1] https://www.aclu.org/news/lgbtq-rights/paypal-and-venmo-are-...

Re:Blockchain is not only crappy technology but a bad vision... by egeozcan on Tuesday January 18, 2022 @08:22AM (#29978621)
If the government decides paid sex work is illegal, it'd also be hard to make transactions for it via Bitcoin.

If you think taking your wallet (the key) and running away with it is an option, then how is it better than using cash?

Re:Blockchain is not only crappy technology but a bad vision... by bko on Tuesday January 18, 2022 @08:55AM (#29979089)
It's not that its illegal. It's that its "discouraged" via arbitrary regulation usually under the guise of money laundering or high charge backs. For instance, cam girls are legal in the US, but they have a difficulty getting a payment provider Same is true for states with recreational marijuana.

Cryptocurrency also solves the problem of charge-backs. Venmo and PayPal gives a sense of finality, but it actually takes days to transfer the funds. That's why there are so many paypal scams on craigslist

Re:Blockchain is not only crappy technology but a bad vision... by egeozcan on Tuesday January 18, 2022 @04:07PM (#29985824)
> the problem of charge-backs

Charge-backs aren't there to purely annoy/scam sellers, you know.

> difficulty getting a payment provider

Because there are too many money laundering attempts via transactions in that industry. If you want to deal with the stuff Paypal/Venmo/etc doesn't want to deal with, go ahead.