Yeah so would many same folks but alas whether it’s the weather or the alcohol or weed or mold or pollution or crab bucket mentality or FAS or poor healthcare - sanity is just in extremely short supply at the moment.

We have essentially two paths: continued vassalisation to whatever circus of clowns runs the US or a more equal and independent-but-unpopular partnership with the EU.

TL:DR: Apple operates in Russia and removes anti-war based relatively good guy non-state-funded anti-Putin podcasts that Russian government doesn’t like within Russia. Afaik.

There is absolutely nothing “natural Ponzi-scheme” about cryptos inherently. They’re obviously used as pump and dumps all the time but this is not inherent to the technology.

Yeah. barteable goods aren’t good currencies, which is why we have currencies for trading rather than bartering as was was done before currencies were created.

Glad you’re somewhat familiar with the history of trade.

Hence if currencies die again, cryptocurrency is a viable alternative as a currency, which barter goods are not an adequate replacement for.

considering that the companies that hold and maintain the Internet infrastructure,

Idk, satellites don’t really require daily maintenance in a best case scenario, nor do undersea cables, I fully expect the internet to outlive humanity altogether.

unless, that is, you’re trying to protect yourself from something so bad the S&P 500 dies, in which case as I explained above and in my previous post, it’s down to stuff like hard cash, gold and bartering) and crypto won’t actually add any security to a diversified wealth protection portfolio, quite the contrary since it’s too infrastructure dependent to work in the worst situations and too volatile

I simply don’t agree with any of this whatsoever. Again, gold and bartering won’t make good currency, currency is currency - like cryptocurrency or fiat currency - diversifying so not all your currency is directly dependant on the government is pretty sound financial principle. You can invest into gold but in catastrophies your attempt to barter or otherwise liquidate these assets will be troublesome. It just makes sense to me, but I’m not econ or finance, I’m a compsci.

Nevertheless I appreciate your perspective, you’ve definitely given me some food for thought for hedging my bets in the future.

We cannot win by changing the fediverse into something like what we left behind because it will no longer be the fediverse we know and love, all we have is the good fight of educating people on why it is better and ourselves as an example - a city on a hill to which others may flock if they see the shine, and it may not be a fight we can win but it is the only fight worth fighting.

This volatility isn’t something inherent to all cryptocurrency - bitcoin and eth and pump and dump cryptos are just especially hot speculative assets for people who enjoy holding bags and pump and dump YouTube grifters.

Tradeable essential goods aren’t a good basis for currency, they would be your best bet without the internet, but with the internet in such a collapse cryptocurrency could actually work.

Diversification is not a concept in opposition to cryptocurrency, the former is a viable financial principle for savings and investments, the latter is one type of asset (a currency) that someone can hold if they choose to if they believe that centralisation of financial institutions and growing connections between corporations and governments is a risk - for instance I would not expect S&P500 to survive a major climate or landemic catastrophy/incident, world war, especially with protectionism, and maybe I’m an alarmist prepper but while remote, these things are growing increasingly likely or if the oversight of the powers that be is undesired e.g. such as with buying drugs on the internet.

Ultimately it all comes down to that.

Gold or other assets don’t necessarily protect you when you own them through government and more broadly not-wholly-independent-from the-government-financial-institutions, unless you have gold bars at your house, and even then, it’s not something you can transfer for payments easily.

On the other hand cryptocurrencies are wholly independent from any institution whatsoever - truly for people by the people - and ones like XMR are actively resistant to them altogether. I don’t think Trump is going to be like Hitler, but if he were, I’d bet on something the government can’t really easily seize like a distributed decentralised ledger rather than a house or gold that can’t be liquidated quickly or transferred for another currency if I was e.g. a targeted minority.

I love Canis Canem Edit!

No it would not prevent the 2008 crash however if you had some money in a cryptocurrency you would be cushioned from some effects of the fallout. Not a replacement, just an addition. Having an alternative is the draw.

Blockchain scams are evidence of it’s unreadiness and naivety.

Hard disagree, it’s evidence of its effectiveness and maturity. No primitive financial system would be capable of being used for:

Pump and dumps, ponzi schemes, front running, market manipulation, rug pulls, and more

Financial systems are primarily tools for fraud and zero-sum transactions, there’s a line there for what is and isn’t legal which is decided by the government, but it’s ultimately all just taking money from one place to another and someone loses.

Sure the currency itself isn’t resistant to a run on itself but having some wealth in the currency will cushion a run on the real IRL banks for fiat currency.

By sending it to an address of the recipient’s wallet from your wallet? I’m not sure what you’re asking. Bitcoing transactions don’t involve intermediaries by default unless you’re using an exchange of some kind. You can even transfer between cryptocurrencies using atomic swaps.

Granted you’d have to buy crypto for fiat currency to begin with and because of unfortunate regulatotions you have to often go through a KYC process with some banking institution, but that’s a fault of glowies getting greedy for data, not the tech.

solution in search of a problem

Idk I think centralised trust is a problem in and of itself but you can just look to history and world events that created bank runs and financial crashes like y’know - 2008, a year later the bitcoin ledger began.

it’s far easier to establish a source of trust.

Yes but it also comes with problems as mentioned above. Blockchain tech being used for scams if anything is evidence of it being a mature and functional technology for finance because under capitalism it’s all inherently a scam of some sort.

That said we shouldn’t let perfect be the enemy of good, I’m glad the technology exists even if I don’t think it achieved what it set out to do quite as well as one would’ve hoped, if for no other reason than the fact we can all just buy any drugs online now with one day delivery instead of being stabbed on the street after calling some number like barbarians in the olden days.

Nothing magical about it, it’s just federation, that’s not what I was referencing in my comment - my interest was more about a potential culture clash - despite what the hordes of retards replying above seems to want to frame it as.

Yeah I don’t mind em too on Mastodon because poor twitter design philosophy makes things hard to search and filter. Not on here though. Blocked.

Of course it does, everyone finds reading difficult the first time they do it. Try it again when you’ve had some rest and you may realize that your interpretation isn’t correct or what was meant at all. I just find it weird that people on mastodon would interact with Lemmy, not that they could.

Your confidence in your ignorance is what’s wrong with the world today. Blocked.

Huh? Nah I just find it weird that people on mastodon would interact with Lemmy, not that they could.

You’re a condescending shitwit for instance either doing a dunning kruger speedrun on reading comprehension or misinterpreting on purpose, probably a 12 year old tiktok child, why would anyone sub to a Lemmy community off mastodon with people like you about? I’m contemplating leaving myself. Blocked.

Huh? Nah I just find it weird that people on mastodon would interact with Lemmy, not that they could.

It’s beyond moronic to misframe my comment as being ignorant of the fediverse and then respond to it like a busted LLM with a skewed data set. Blocked.

That much I know but I guess it’s somewhat wild to me that you would subscribe to a Lemmy community off mastodon. People there seems a bit off

EDIT: Lots of morons below are taking my comment to mean that I’m surprised they could not that they would (want to) which are different words that mean different things.

Everybody and their grandma understands how federation works on here, you ain’t smart for figuring it out. All blocked.

No offense but why are you using hashtags

Anybody got a nice summary for what each of those mean and/or really do?