ElSapo there’s a word for what you’re referring to
It’s called The Flippening.
And it is happening.
1 Like
A lot of the dotcom bubble was companies signing huge contracts with each other and reporting it as income. Just saying.
I’m just afraid a crypto crash will spread to global markets, through some currently unknown institutional exposure, like the subprime housing bubble.
proof of stake ending mining and solving the ecological issue of blockchain, the ability for anyone to make all kinds of smart contracts, that’s the new shit and i’m sad for the reactionaries itt who are gonna miss it. like i tried to get all my friends onto the poker train too, i want my friends to be as successful as i am otherwise i’m gonna have to dump them and find a higher class of friends
7 Likes
not sure if it’s worse being a boomer who thinks he’s right or being a boomer who knows he’s wrong but have no idea what to do about it
i feel like the former are having more fun than me
1 Like
This is the way
1 Like
Give me a reason to believe that blockchain can enable greater redistribution of wealth and I would be more willing to get behind it.
I could maybe get behind crypto which is decentralized and outside government control but less anonymous so that government can more easily track who the money launderers and tax evaders are, if it can be used to store wealth in a way that can’t be hidden from a wealth tax.
I want a cryptocurrency that libertarian bros hate.
I think if we can all just figure out a way to commit to increasing our group elation for crypto by 1% a week for the rest of our lives then there should be no cause for concern.
1 Like
on a libertarian/statist perspective i don’t think blockchain is inherently libertarian, it’s just super early.
what ethereum can do is make a way to set “laws” and if you put your trust in some person or group or company to be honest about the smart contract they’re offering, or if you’re clever enough to investigate it yourself, then you can know for sure the law will be executed as described. i love the way royalties are auto paid from rich jerks to the artists on some of these NFTs, and there’s no reason for this not to apply to payments outside of art sales in the future. imagine if you’re a worker and the company offers you some bonus based on every chair you build. bosses can lie, bosses get paid by lying, but blockchain don’t lie, it’d be paying the worker his fair share on every sale. but like i said there’s nothing inherent in the blockchain that creates this system or a more dystopian wild west system, it’s up to people and how they use it.
1 Like
It will spread to the degree that Playstation 5s and KY products will be available for purchase.
Yeah I think SOX did away with a lot of that sort of nonsense. The issue will always be enforcement though as Riverman likes to bch about. but SEC would really like to do the enforcement I think, it’s just that repube admins put management-friendly people in charge + they’re perpetually underfunded so biglaw always crushes them in court so nothing ever gets done, this is why all that happened in the first place imo
From 2002 but still very prescient if you have not seen it
I’m fine with crypto just tax profits as income not capital gains and don’t let them offshore the profits and socialize the losses (lol me though I’m sure)
The main way I view crypto as libertarian is because I see it as a tool to hide wealth from taxes so that it can’t be redistributed by governments and to weaken governments so they can’t enforce redistribution.
Maybe NFTs can be used as proof of ownership for non-digital art. Some company can issue NFTs that act as certificates of authenticity/ownership for physical objects. Sale of these objects will require transfer of the NFT in addition to giving up custody of the object.
Are people doing smart contracts for rental of physical property or is that still too messy to comply with old laws?
Can blockchain be used by movie studios to combat digital piracy? Can someone make video or audio that is only playable if you own the correct NFT?
no that sounds like a different thing
well now that i think about it maybe. it could be a way to access a website like a netflix subscription i guess.
this makes me think of the commercials for online blackjack with live dealers
Blockchain gets used more if you can come up with more uses for it.
If someone could figure out how to use blockchain to verify vaccine passports, that would be great. People get worked up about the idea of anonymity or pseudonymity in crypto. An ideological understanding may blind people to possible applications of blockchain in verifying real-world identities.
Is anyone bothering to ask how blockchain can be used to make government more effective and more efficient at doing the things it already tries to do or are the enthusiasts mainly thinking about how it might make government less relevant?
this is another great idea from you. a flash of a phone can confirm you have it and check if you have it directly from cdc. spend more time in this space please
2 Likes
Google bitcoin and El Salvador.
It’s also possible that the use cases for BTC and ETH are different and they both survive–one as secure, decentralized money/digital property/store of value; and the other as the main platform for decentralized apps.
1 Like
El Salvador is slowly losing their democracy to a populist demagogue. Not the best example of a country doing things right.
Perhaps, but let’s give the experiment more than five months to see if it worked or not.