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Only Monero gets it? Rest of Crypto ignores FOSS
(monero.town)
It seems like both the larger cryptocurrency community, as well as the FOSS community both just don’t get it. Cryptocurrency and Open Source are clearly related yet only the Monero community seems to give a shit.
FOSS community is so left-brain washed socialist that they are stuck in the money is evil and bitcoin is climate change. Crypto community is stuck in the no-adversaries mindset, as the SEC declares their products illegal but they use google, cloudflare, telegram, no understanding of any threat.
Monero & Linux are linked: https://simplifiedprivacy.com/cryptocurrency-ignores-open-source/
There’s nothing wrong with digital ledgers like blockchains; they have very limited application to finance, however. Thousands of years of history have shown us that federated centrally controlled currencies with the ability to revoke and semi-privacy (the currency can be tracked but not the user of the currency) are the way to go.
Unfortunately, no blockchain-based currency has yet met these requirements, including Monero. It gets some things right, but still fails on a number of others where physical cash continues to be the best option.
It’s not cryptocurrency everyone is against, just all the implementations that we’ve seen so far.
For thousands of years people used 100% private, difficult to revoke not centrally controlled currencies actually. These are gold and silver standard weights and coins. The current state of affairs started in the 30s and really kicked off in the 70s, with not redeemable cash. Even then, we still had privacy and it was hard to revoke. The non privacy aspect of money is really 30 or so years old. What the fuck are you on about man?
Lots of human history was dominated by trading in commodities/ gold / physical objects. I recommend the great book debt: the first 5000 years
I'm confused how a central authory revokes physical currency in the past? Especially when talking about precious materials.
The same way they'd revoke your crypto: kick your door in and crack open your safe. This guy doesn't have a clue what he's talking about. Crypto is no more difficult than gold coins or cash to revoke.
It is much harder to compel someone to divulge the contents of their mind than it is to confiscate a physical object, whether locked away or tied to their body or not. If your seed phrase or password is memorized or sufficiently disassociated then the threat actor can't simply break into your safe, identify the crypto and take it. It lives on the blockchain and is never really in your possession. You only have the keys to access it. And those keys are much harder to get at than a physical object IF you take the precautions to avail of this benefit that is distinct from self-custodied physical commodities storage.
Hard assets and digital currencies both have strengths and weaknesses that shine in different circumstances. It doesn't have to be an either/or scenario.
You're correct in relation to precious metals and other commodities that attain some form of communally accepted value independent of a centralized authority. In that case someone has to physically come take them from you by force or theft as the other poster noted. Or alternatively turn peoples minds collectively away from perceiving value in it to accomplish a similar effect by different means.
As for other physical currency, that can be "revoked" by a central authority like a central bank at will. If they deem it worthless and disable use of it in commerce tomorrow, it's not long before the average person agrees and it becomes only as valuable as the base paper or coin representing it. There is no need to physically seize it, but it has a similar effect as revocation or seizure would in terms of ongoing usefulness of its previous purpose to you.
This can also occur slowly over time via currency manipulation. The USD has lost somewhere in the range of 96% of its value or purchasing power since 1913. This isn't complete revocation, but again, accomplishes a similar goal without the need for physical confiscation.