this post was submitted on 08 Dec 2024
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Id love a digital currency system to bypass banks and credit card companies trying to legislate. But the scaling power consumption of crypto is fundamentally unsustainable
I don't really see the appeal of currency anarchy in general. Do the proponents of that really think that the power in that space wouldn't be held by what essentially amounts to digital currency warlords (anyone with a lever to apply power and the matching lack of morals to do so)? Not to mention that some regulation of finances are a good thing, it is not as if every currency intervention by central banks is done for bad reasons.
yeah we already have a problem with wealth inequality.
Yeah, and that would only get worse if the only controls over currency were applied by those with a lot of currency (proof of stake) or able to afford a lot of computational power (proof of work).