# The Crypto Thread **URL:** \ **Category:** Politics & News\ **Created:** [February 3, 2021, 11:43pm UTC](https://unstuckpolitics.com/t/the-crypto-thread/4193 "2021-02-03T23:43:39Z")\ **Posts on this page:** 20\ **Page:** 147
**Author:** ![PapaSmurf](https://unstuckpolitics.com/letter_avatar_proxy/v4/letter/p/90ced4/32.png) [@PapaSmurf](https://unstuckpolitics.com/u/PapaSmurf)\ **Post date:** [November 26, 2021, 5:10pm UTC](https://unstuckpolitics.com/t/the-crypto-thread/4193/3229 "2021-11-26T17:10:34Z")
If they gain control of 51% or more total hashrate. ---
**Author:** ![NotBruceZ](https://unstuckpolitics.com/user_avatar/unstuckpolitics.com/notbrucez/32/151673_2.png) [@NotBruceZ](https://unstuckpolitics.com/u/NotBruceZ)\ **Post date:** [November 26, 2021, 5:40pm UTC](https://unstuckpolitics.com/t/the-crypto-thread/4193/3230 "2021-11-26T17:40:07Z")
The libertarian bros want to get rid of fiat money and go back to the gold standard. Or, in the case, of crypto, create the digital equivalent of gold and base the value of currency off of that. They see crypto as a way to neuter the Federal Reserve, taking away the power of government to manage the economy through various tools made easier by central banking. Even if they aren’t accomplishing what they desire, they are helping to build and strengthen anti-government sentiment on the right. Crypto-billionaires are going to be the new Koch brothers, funding ideological libertarian political efforts and making the world a worse place. ---
**Author:** ![Trolly](https://unstuckpolitics.com/user_avatar/unstuckpolitics.com/trolly/32/192190_2.png) [@Trolly](https://unstuckpolitics.com/u/Trolly)\ **Post date:** [November 26, 2021, 5:58pm UTC](https://unstuckpolitics.com/t/the-crypto-thread/4193/3231 "2021-11-26T17:58:47Z")
> [@NotBruceZ](#): > > The libertarian bros want to get rid of fiat money and go back to the gold standard. Right. Libertarians have weird hangups about money and inflation and especially the Federal Reserve. Satoshi created an elegant solution with cryptomoney that deflates and goes around the Fed. Turns out no one really cares about sticking it to the central banking system when they go out to buy groceries, so crypto has become a nerd toy and a vehicle for wild speculation. ---
**Author:** ![suzzer99](https://unstuckpolitics.com/user_avatar/unstuckpolitics.com/suzzer99/32/132432_2.png) [@suzzer99](https://unstuckpolitics.com/u/suzzer99)\ **Post date:** [November 26, 2021, 6:21pm UTC](https://unstuckpolitics.com/t/the-crypto-thread/4193/3232 "2021-11-26T18:21:09Z")
> [@Surf](#): > > But feel like NFT situation has cut the pretense and just straight up admits going to spend massive resources transacting links to monkey pixels with the sole purpose of hoping you can dump it onto someone else hoping to do the same in a couple weeks. Did you miss Xiaolongbao’s post? It’s all about the online version of showing off your Lambo, Hermes bag, or fancy watch to your discord buddies. Solid utility there. ---
**Author:** ![suzzer99](https://unstuckpolitics.com/user_avatar/unstuckpolitics.com/suzzer99/32/132432_2.png) [@suzzer99](https://unstuckpolitics.com/u/suzzer99)\ **Post date:** [November 26, 2021, 6:23pm UTC](https://unstuckpolitics.com/t/the-crypto-thread/4193/3233 "2021-11-26T18:23:30Z")
El Salvador to become the new Dubai. ---
**Author:** ![Fatboy8](https://unstuckpolitics.com/user_avatar/unstuckpolitics.com/fatboy8/32/46850_2.png) [@Fatboy8](https://unstuckpolitics.com/u/Fatboy8)\ **Post date:** [November 26, 2021, 6:29pm UTC](https://unstuckpolitics.com/t/the-crypto-thread/4193/3234 "2021-11-26T18:29:34Z")
Clearly there is value in NFTs. I paid like $400 for this, and as an art connoisseur I’m pretty sure I stole it. ![Screenshot_20211126-074911_OpenSea](https://unstuckpolitics.com/uploads/default/original/3X/b/2/b27613ec69db031c3768d013e197435d44e8d185.jpeg) ---
**Author:** ![Xiaolongbao](https://unstuckpolitics.com/letter_avatar_proxy/v4/letter/x/34f0e0/32.png) [@Xiaolongbao](https://unstuckpolitics.com/u/Xiaolongbao)\ **Post date:** [November 26, 2021, 6:33pm UTC](https://unstuckpolitics.com/t/the-crypto-thread/4193/3235 "2021-11-26T18:33:34Z")
The author of this article is the guy that the NFT tweeter name drops > **[What Bitcoin's crypto critics get wrong](https://www.spectator.co.uk/article/a-defence-of-bitcoin/)** > > What’s the truth about Bitcoin? Critics couldn’t be clearer: it’s a fad that can’t decide whether it’s a currency or a speculative investment. ‘You’re betting, essentially, on being the last person holding the bomb before it goes off,’ wrote Sam... ---
**Author:** ![beetlejuice](https://unstuckpolitics.com/user_avatar/unstuckpolitics.com/beetlejuice/32/219300_2.png) [@beetlejuice](https://unstuckpolitics.com/u/beetlejuice)\ **Post date:** [November 26, 2021, 6:40pm UTC](https://unstuckpolitics.com/t/the-crypto-thread/4193/3236 "2021-11-26T18:40:34Z")
if you believe in hope and change and the power of americans to be better than we have been the last 50 years, and that china is going to implode soon and america will be #1 for the rest of our lives, then yeah i can see how there wouldn’t be a desire for a new global currency and i’d probably say, like, “welcome to unstuck politics! you’re obviously very new to following politics and the news. i hope you stick around and learn a lot” ---
**Author:** ![Xiaolongbao](https://unstuckpolitics.com/letter_avatar_proxy/v4/letter/x/34f0e0/32.png) [@Xiaolongbao](https://unstuckpolitics.com/u/Xiaolongbao)\ **Post date:** [November 26, 2021, 6:46pm UTC](https://unstuckpolitics.com/t/the-crypto-thread/4193/3237 "2021-11-26T18:46:32Z")
The truly amazing thing is how stable fiat money has been all these years, despite all the libertarian-bro complaining about 2.5% annual inflation. ---
**Author:** ![Xiaolongbao](https://unstuckpolitics.com/letter_avatar_proxy/v4/letter/x/34f0e0/32.png) [@Xiaolongbao](https://unstuckpolitics.com/u/Xiaolongbao)\ **Post date:** [November 26, 2021, 6:47pm UTC](https://unstuckpolitics.com/t/the-crypto-thread/4193/3238 "2021-11-26T18:47:20Z")
Also, all the overwhelming evidence that hard money (gold standard/dollar pegs) has been a complete disaster over and over again. ---
**Author:** ![Yuv](https://unstuckpolitics.com/letter_avatar_proxy/v4/letter/y/8797f3/32.png) [@Yuv](https://unstuckpolitics.com/u/Yuv)\ **Post date:** [November 26, 2021, 7:13pm UTC](https://unstuckpolitics.com/t/the-crypto-thread/4193/3240 "2021-11-26T19:13:18Z")
what about a jpeg of 2000 new global currencies? ---
**Author:** ![Trolly](https://unstuckpolitics.com/user_avatar/unstuckpolitics.com/trolly/32/192190_2.png) [@Trolly](https://unstuckpolitics.com/u/Trolly)\ **Post date:** [November 26, 2021, 7:25pm UTC](https://unstuckpolitics.com/t/the-crypto-thread/4193/3241 "2021-11-26T19:25:34Z")
Yeah, I’m still gonna bet on goldbug libertarians being wrong once again about monetary theory, although BTC constantly mooning makes me question my logic. ---
**Author:** ![jwax13](https://unstuckpolitics.com/user_avatar/unstuckpolitics.com/jwax13/32/237416_2.png) [@jwax13](https://unstuckpolitics.com/u/jwax13)\ **Post date:** [November 26, 2021, 8:05pm UTC](https://unstuckpolitics.com/t/the-crypto-thread/4193/3242 "2021-11-26T20:05:14Z")
> [@zikzak](#): > > The energy use thing is really overblown though imo. It is an already solved problem that will be largely eliminated soon enough. Can you elaborate ? ---
**Author:** ![alex](https://unstuckpolitics.com/user_avatar/unstuckpolitics.com/alex/32/124689_2.png) [@alex](https://unstuckpolitics.com/u/alex)\ **Post date:** [November 26, 2021, 10:36pm UTC](https://unstuckpolitics.com/t/the-crypto-thread/4193/3246 "2021-11-26T22:36:35Z")
> [@Trolly](#): > > Turns out no one really cares about sticking it to the central banking system when they go out to buy groceries, Probably a bad month to deliver this take. ---
**Author:** ![zikzak](https://unstuckpolitics.com/user_avatar/unstuckpolitics.com/zikzak/32/131974_2.png) [@zikzak](https://unstuckpolitics.com/u/zikzak)\ **Post date:** [November 26, 2021, 10:37pm UTC](https://unstuckpolitics.com/t/the-crypto-thread/4193/3247 "2021-11-26T22:37:17Z")
The most widely used currencies right now run on a proof of work consensus method, which involves all the very wasteful mining. Most of the newer ones use a proof of stake model which uses less than 1% of the electricity the first generation coins use for much higher transaction numbers. The 2nd most used currency is shifting over to this method soon. Even if Bitcoin stays dominant and never switches (I’m honestly not sure it can), it will be under much more efficient layers or side chains or whatever to cope with this. The current energy use isn’t sustainable from any point of view and will not last. It is hurting the networks themselves and preventing them from scaling. Currencies that can’t adapt will simply fail because they will be too expensive to use. ---
**Author:** ![zikzak](https://unstuckpolitics.com/user_avatar/unstuckpolitics.com/zikzak/32/131974_2.png) [@zikzak](https://unstuckpolitics.com/u/zikzak)\ **Post date:** [November 26, 2021, 11:09pm UTC](https://unstuckpolitics.com/t/the-crypto-thread/4193/3249 "2021-11-26T23:09:59Z")
idk, that stuff is way above my pay grade. I do know that small stakes players like me are pretty much completely priced out of the Ethereum ecosystem right now. If they don’t make substantial progress towards 2.0 by this winter I think it’s going to lose its dominance to some other network(s). ---
**Author:** ![NotBruceZ](https://unstuckpolitics.com/user_avatar/unstuckpolitics.com/notbrucez/32/151673_2.png) [@NotBruceZ](https://unstuckpolitics.com/u/NotBruceZ)\ **Post date:** [November 26, 2021, 11:14pm UTC](https://unstuckpolitics.com/t/the-crypto-thread/4193/3250 "2021-11-26T23:14:35Z")
Can’t people just make a proof of stake stablecoin pegged to Bitcoin? ---
**Author:** ![zikzak](https://unstuckpolitics.com/user_avatar/unstuckpolitics.com/zikzak/32/131974_2.png) [@zikzak](https://unstuckpolitics.com/u/zikzak)\ **Post date:** [November 26, 2021, 11:44pm UTC](https://unstuckpolitics.com/t/the-crypto-thread/4193/3251 "2021-11-26T23:44:53Z")
Basically already exists. [https://medium.com/coinmonks/tokenized-bitcoin-comparison-of-different-approaches-18d30eea8c76](https://medium.com/coinmonks/tokenized-bitcoin-comparison-of-different-approaches-18d30eea8c76) ---
**Author:** ![NotBruceZ](https://unstuckpolitics.com/user_avatar/unstuckpolitics.com/notbrucez/32/151673_2.png) [@NotBruceZ](https://unstuckpolitics.com/u/NotBruceZ)\ **Post date:** [November 26, 2021, 11:53pm UTC](https://unstuckpolitics.com/t/the-crypto-thread/4193/3252 "2021-11-26T23:53:14Z")
I assumed it did. I just don’t know how popular it is. ---
**Author:** ![alex](https://unstuckpolitics.com/user_avatar/unstuckpolitics.com/alex/32/124689_2.png) [@alex](https://unstuckpolitics.com/u/alex)\ **Post date:** [November 27, 2021, 12:51am UTC](https://unstuckpolitics.com/t/the-crypto-thread/4193/3253 "2021-11-27T00:51:50Z")
It’s quite popular because you need the token version to stake btc for yield farming or lending. [Previous page](https://unstuckpolitics.com/t/the-crypto-thread/4193.md?page=146) [Next page](https://unstuckpolitics.com/t/the-crypto-thread/4193.md?page=148)