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this post was submitted on 09 Aug 2023
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The fediverse solves the decentralisation problem by enabling communities to operate around a basis of trust. Blockchain is antitrust. It is fundamentally built on an assumption that functioning communities cannot exist.
Blockchain solves a problem that doesn't exist. Give me a problem that blockchain solves and I'll consider it. A decentralised ledger is an ancient technology that has never needed immutability in order to work.
Also what odds would you give me on whether reddit don't want to use this blockchain system for a grift? 1/100? 1/1000?
That's the other problem with blockchain, the foundation of antitrust attracts grifters, because it is a technology that enables grifts. Immutable ledgers lock people in with no escape clause, so they fundamentally enable bigger fool scams. I hate fiat currency as much as the crypto bros, but at least it sometimes allows recourse for scam victims.
Your last sentence makes no sense. Why would crypto bros hate fiat currencies? Or do they just hate every other than the one they support?
Go look at any crypto bro explain what's so great about crypto currency. They hate fiat because it's centralised. They basically say it gives the government too much power, not realising that it is an extension of already existing power and not the source of state power.
They're mostly libertarian capitalists, and as far as I can tell they don't understand how power works. It seems like they think currency and laws and capital are magic spells, so if you rip up the laws and replace the currency then you've dispelled the evil magic and you have liberated the people of Middle Earth.
That's why they think crypto will work, and why they say "just get rid of the laws". When you ask how to do that, they don't know what you mean, because they literally think "get rid of the laws" is the method.