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A nice place to discuss rumors, happenings, innovations, and challenges in the technology sphere. We also welcome discussions on the intersections of technology and society. If it’s technological news or discussion of technology, it probably belongs here.

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Crypto Cult Science (www.arscyni.cc)

submitted 2 weeks ago by [email protected] to c/[email protected]

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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.

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[–] [email protected] 1 points 2 weeks ago

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

“[…] In the end, governments aren't inherently bad, but the people in it can be. And if they can be corrupted by bitcoin then we are merely running uphill on the Titanic.

“Strong currencies are not the solution to poor governance. Good governance and democracy makes a country and its currency strong. Not vice versa.” —halukakin, HackerNews, 2021 [26]

So, governments are not without faults, but likewise not the evil bogeymen as many people make them out to be, and neither are bitcoin enthusiasts. I still think most people mean well, but our ideas cannot account for, nor fathom the complexity of it all. Should the US decrease their disproportionally large defence budget?* Most definitely. Will bitcoin stop that? Probably not. Blame is easy, change is hard, and gambling on crypto“currencies” is not hard. It's just playing Monopoly with another currency without changing the game. Maybe that's it. Maybe they don't want it changed and bitcoin is just a charade. “I don't care if we have new banks, as long as I am rich.” But let's not get lost in speculation here as well. […]”