this post was submitted on 15 Oct 2023
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Anarchism

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Does the Satoshi revolution need more time?

Most governments are introducing taxes on wallets and NFTs, and all content creators in the industry care to teach you to pay your taxes properly.

The biggest threat to global finance embedded in the system, in general indifference.

Wasn't this supposed to be in every person's hands? Off-grid, decentralized as it is in its nature?

(edit)

Yes, I haven't read "Mutual Aid: A Factor of Evolution" by Kropotkin wich I discovered only recently.

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[–] [email protected] 5 points 10 months ago (1 children)

Crypto hasn't been decentralized for a very long time. For most coins large miners/pools have control over the transactions. Proof of stake is far worse. Most coins are traded via centralized exchanges as doing anything on chain is slow and often has high fees.

Blockchain in its current form is not the answer for decentralized value exchange. I'm not sure if a proper decentralized currency can even work in practice. Currencies must be backed by something to have a stable value. In nearly all cases you need a central entity that will guarantee a currency's value.

[–] [email protected] 0 points 10 months ago* (last edited 10 months ago) (1 children)

Do you think large miners/pools can actually manipulate the blockchain? (Genuine question btw)

[–] [email protected] 2 points 10 months ago (1 children)

For smaller coins probably, for larger ones probably not. The issue is more about the centralization of power. If a group of large miners decided to get together and mess with the chain there's not much the average small miners can do. They could do a hard fork from the main network but if the general public doesn't switch their new chain will have no value.

[–] [email protected] 0 points 10 months ago (1 children)

What do you think about anonymous exchanges, could they have a relevant role in this particular phase?

[–] [email protected] 1 points 10 months ago (1 children)

I'm not sure how much they differ from regular exchanges, but if a central wallet is involved I don't think it really solves any issues.

[–] [email protected] 1 points 10 months ago

Uniswap for example is an open source decentraized exchange.

[–] [email protected] 4 points 10 months ago (1 children)

Are we allowing anarcho-capitalists to call themselves anarchists!?

[–] [email protected] 0 points 10 months ago (1 children)

Why you think that? It's just a technology, you can simply use it to exchange value; It's the capitalism stupidity who chose to use that for finance.

[–] [email protected] 1 points 10 months ago (1 children)

It's a technology that is almost the Platonic Form of a solution in search of a problem. In literally every application that people have come up with for blockchain and other crypto scams, there are other technologies that are superior in literally every conceivable way.

[–] [email protected] 1 points 10 months ago (2 children)

For example? I'm genuinely interested.

[–] [email protected] 2 points 10 months ago

Synchronicity in action. This showed up in my feed today.

[–] [email protected] 2 points 10 months ago

Well, for payment there's dozens of options superior to cryptocurrency ranging from plain old cash to debit and credit cards to online payment systems like, in my neck of the woods, Alipay or WeChat Wallet.

For NFTs there's, well, you know, not using NFTs at all since those do absolutely fuck-all for anybody except the Ponzi scheme grifters who push them.

For some of the weirder ideas that crypto-grifters push (like using blockchain for inventory tracking or delivery tracking or even land title management) there's ... you know ... inventory tracking systems (which have been a thing for literally thousands of years in a myriad of forms), simple QR-code based delivery tracking systems (that I literally use every day when buying things from places like Taobao¹), and, you know, land registries that have also been a thing for literally thousands of years.


¹I currently have six packages incoming:

  • Two are with Yuantong Express and are expected to depart the local depot at 1300hrs today for delivery to the pick-up station in my compound before 1600hrs.
  • One is with postal express and left the Chengdu processing centre at 0600hrs this morning and is expected to be in Wuhan's processing centre tomorrow for final delivery to me tomorrow.
  • Another is with Zhongtong Express and left Zhangzhou City at shortly after midnight with delivery to the Ezhou processing centre this evening for delivery to me tomorrow as well.
  • Another with Zhongtong Express is expected to arrive in Ezhou before the 20th and delivery to me expected before the 21st. (This one is going through a tortuous route so is a bit slow.)
  • The final one is with Yunda Express and was just picked up in Nanning city with final delivery to me expected the day after tomorrow.

This is all information that is trivially available at my fingertips and not a single world-burning blockchain was in the loop.