Money corrupts; bitcoin corrupts absolutely. Disregarding all of bitcoin’s shortcomings, a financial instrument that brings out the worst in people—greed—won’t change the world for the better.

  • qyron@sopuli.xyz
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    5 days ago

    What I find funny about the crypto currency concept was that it was originally devised - to what I know - to replace conventional money, under governmental control. But it quickly came the notion that for any crypto currency to hold value it had to be capable of being exchanged by the convention money it was meant to replace. Thus came the crypto markets, which in all emulate the conventional stock exchange markets (or FOREX, pick your poison), where huge chunks of wealth change hands with no real backing.

    A crypto currency, in my opinion, needs to be viewed as a viable means of exchange in order to have value. If I sow potatoes and decide to sell them for crypto, that I can use next to get a massage or a second hand laptop, then a crypto has value. If nobody is using crypto to buy service or goods, then crypto is worth… nothing.

    If an entire parallel economy bloomed around crypto - any crypto - that would make more strides to truly shake governments than anything else.