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RE: Things Cryptocurrency Enthusiasts Are Telling You, but You're Probably Ignoring
I understand your concerns, but you might be surprised to see how much more fraudulent fiat currencies are. Cryptocurrencies aren't perfect, but in my opinion they are a far superior ledger which is what money is. Bitcoin isn't doing well as a transactional payment currency, I'll agree there, but there are others which are more focused in that space. Many see bitcoin as a store of value.
Its clear it start to look like its not going to end well lol
What makes you say that? Do you have specific concerns?
I agree there should be more support for valid criticisms, but I also see a hell of a lot of FUD so I understand if the knee jerk reaction is to think it's all FUD.
Because i see the pattern as focus shift to easy money making scheme, rather than to genuine buisness, and all the many abuse and scam which make btc propaganda not mentioning this, decreasing creativity in general replaced by sale pitch without much in depth tech analysis, without true dedication to good interest, lack of rigor and used to easy cash, all this remind of other community and motion before it started to get ugly lol
Maybe there are still good surprise to come and it can find a second breath , and fixing all the issues or being honnest about them, instead of calling fud each time a pb is pointed, or sending back to conspiracy as cheap anti system counter argument instead of seeing things as they are, which is btc hold more scam, ponzi and laundry and shady agenda than genuine income making buisness, cause you wont say me honnestly there are billions of declared income with tax paid behind the "market cap".
Making it a pure store of value ok, but that will put it as a security or so, with following regulation, and tracability that is required by it, and then need to stop the moto with decentralization, and should rename it something else than currency lol
And even as store of value its not backed by anything, and cover many shady buisness that could easily fireback at it.
Its not giving me currently the impression of being focus on self improvment, customer care, and oriented toward becoming mainstream with good quality software, transparent functioning and all this, more quickly made things enough for bare minimum to run exchange and basics centralized app, with many security issues, regular hacks, prone to bad manulation or pb, and zero safety net.
I see that same pattern. Thanks for replying.
It remind me the pattern i saw with free parties and cracking scene :)
A long as it remain underground in small circle making some few money here and there it can stay undetr the radar of prosecution.
When it starts to get big, with big organized thing, making tons of cash, and going pseudo mainstream on shaky fundation, they start to crack down and it can come very fast lol
I still remember the operation fastlink ( https://en.m.wikipedia.org/wiki/Operation_Fastlink ) and wen they do big crack down like this when things becoming too wide spread, it can happen very fast once al the section & judges are on the same line.
Always the same story :D
banditos - vamos con electromad :D
Fbi & co are already probably tracking & infiltrating and building case, and the day the law is falling, and judges have the good procedures bye folks :)
Just saying lol nobody can tell for sure how thats going to end, but need not to take authority for fool too much either, and its probably going to be cleared up at some point, and we'll see what and who remain when all the gray area become under the spot and all the crack down start to get in.
Usually what remain is only big player who operate under big legal buisness, and we ll see how many people are still in without the easy cash and empty promise and scams of all kinds, to do the real tedious work of organisation and clean things.
We'll see. Unlike many other examples, peer to peer systems are notoriously difficult to stop. Napster got us Itunes, Amazon Music, Pandora, etc. We no longer have to pay for a full CD just for the song we want.
Yes probably some system are going to get out of this, but given that all the scam and ponzi & co that make up the thing, need to see what remain if all those get taken out, how much traffic and real use will remain.
Im pretty sure without the easy cash and shady stuff, 90% of the actual scene is out.
Verynfew people actually want to get throught the hassle of cleaning code, increase safety, and deal with all the issue to operate actual genuine buisness with much thinner profits with more tedious hard work.
Most people are in for quick return sitting on coin or trading on exchange like pseudo gamble, rather than doing all th hassle to work out real system who can fit with real economy.
All the crypto & p2p never prevent them to bust the people they want to bust when it become too blatantly out of the line.
Even with p2p & all, there are still not so much actors who make the thing spin, and where there start to be real investigation & head fallings, p2p & crypto doesnt help all that much. Because most people are mostly leech or passive users, and its never too hard to make blow on the system when it become too much out of the law on big scale.
Nobody is going to invest too much ressource or time if its to end in jail or with potential trouble, and not that many people are dedicated and skilled enough to really make the thing spin, even if there is large number of user on a p2p network for fast easy reward and gain.
And i still wonder what are real advantage of using graphene over classic web things, as its still more costly and complex to operate than regular web things, it can find a model probably as its still more transparent and open than facebook or twitter, and clearly a buisness model and thoughful system, need to see how it turn on the long run, and if true investigation and stuff are made on the model, if it doesnt go against some law or so.
But in the end, the fast and deterministic block time come at price of sophisticated delegation of mining and control over relatively small number of high end highly connected witness node, in the end need to see if it has real effective advantage over other system, given the increased complexity and cost, for ending with something not so decentralized, outside of the hype of blockchain and promise of high return for investors.
On the contrary, DAO (distributed autonomous organizations) run on their own. There are no heads. These things spin on their own.
I get what you're saying and I do agree many will go away. At the same time, I watched bitcoin go from $1,200 down to $250 with many people abandoning their crypto projects for "real" jobs and yet here we are. Bitcoin remains.
Decentralized systems that run on their own are quite different than anything the world has yet seen. They are not so easy to stop, as long as the Internet keeps functioning. We're already seeing people tackle that angle with mesh networks and even nodes in space.
I'm optimistic about the future because that's the stance which has always improved the world.
From what i heard of dao, most of the big fund invested are still in few hands.
Even if they are theorically and technically decentralized, its always few people who really have funds, can invest them smartly, and really do something productive out of it.
Well il optimistic nature too, and still think crypto are paving the way to new form of network organisation, but ive lost my idealist illusions about decentralized network already lol
The best illustrations of this is gits sac2 :D it explain how it work with decentralized pseudo revolutionary networks :) the concept of spiritual gravity that lead underground motion toward gangs and crime if there no inspirational leader behind it, it is kinda how i see it, even if there is very sophisticated technological system of anonymity and ressilence and communication etf, everyone will project their own wish on the goal, if there is not minimum of mobilisation and coordination and intelligence into it, it never get very far into ideal outcome.
And not that much people are really able to put things in motion, coordinate, invest time, funds, energy, ideas, to really get to somewhere useful. Without those people the technology behind doesnt matter that much. If things start to get really illegal or gov are giving bad publicy to it, that there is no support from big players, and no common shared ideal behind it, its not going to go very far. Even if the technology is fully decentralized and cant be broken, even by let say nsa or big organisations .
And there are still many things lacking with the way nodes work for it to be really useable for legal and general purpose applications.
And lot of obsfuscation and pseudo propaganda that start to be concerning.