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this post was submitted on 21 Feb 2024
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It has potential but everyone is going about it wrong.
What would it mean to go right about it in your opinion? Using proof of stake instead of proof of work seems obvious to me, but I have a hard time thinking of an actual use case for crypto
Crypto currency, as we know it, is mainly analogous to the concept of rai stones. There's a misconception that it's "money in a device" like a kind of credit card, but how it works is you have digitally-produced objectively existing entities which can be "dedicated" to its current owner. This combination of modernism and improvisionism also gives crypto inherently authoritative connotations.
And there lies the issue. Trade and trade systems are a universal concept, but government is not, so I can confirm it's a given that combining them just inherits the instability of the latter.
Sucks what happened with NFTs being applied to literally the lowest hanging fruit for what it could be used for
The best use case for nfts i read was providing a nft for digital purchases like books,songs, or micro transactions/dlcs for video games so you could keep track of what you own digitally by the nft possibly even transferring your purchases to other accounts
But no.
Monkey pictures.
Because $$$$
I just realized how much cryptobros sound like tankies.
They probably overlap. Digital money is central money. But that's the oversight I had in mind. What people call "commodity currency" was always the most stable, it didn't hinge on an unstable ceiling.