Cross-gepostet von: https://lemmy.zip/post/61401917
Centralised payment systems are much more efficient. Yes, corporate capture can make them suck (visa/MasterCard duopoly). To ensure security, financial infrastructure tends to be super capital intensive. This leads to an oligopoly in a best case scenario and a monopoly in the worst case scenario.
Being a natural monopoly, I would highly highly be in support of state owned financial “stuff”. Cooperativize operations as much as possible, but let the state raise capital for this. Good for national security too.
Certain types of crypto can be very good if you want transactions to be anonymous (Monero being the best example). Wanna purchase drugs from an illegal ecommerce platform? Monero is untraceable. Wanna buy weapons, launder money, etc? Monero works. Otherwise, it’s pretty much useless in the face of existing non crypto services.
BTC sucks for transactions. But its value proposition is kinda different. It’s kinda like gold (kinda).
Humans throughout history have based currencies based on items that can be easily verified to be real, and are scarce. Gold is an example. Gold can be mined, yes. But it’s pretty scarce. It’s easy to tell gold from “not gold”.
Hence, in a world where financial systems weren’t exactly integrated and digitized, assets and market info was hard to track, trust in other countries and their institutions was super low, gold worked.
But we abandoned the gold standard for a reason. Hence, do we really want a digital gold equivalent (in terms of verifiability and scarcity)? What even is the point? That’s why BTC doesn’t make sense (for me)
Weapons? Money laundering? What I want untraceable transactions for is furry porn.
Like, there are other reasons to want privacy in what you’re paying for, too. Maybe Monero or something could come in handy for that.
How do they handle the traceability aspect? Like, if it’s a blockchain, that makes transactions public by definition right? I’m sure there’s ways to keep stuff private, I’m just curious how it works.
– Frost
Bitcoin has been a scam for 15 years. It’s not money, it’s not official, it’s inefficient, it’s useless and irrelevant.
You’ve clearly not studied Bitcoin, nor do you seem to understand its original intentions.
Maybe read the white paper? (https://bitcoin.org/bitcoin.pdf)
They’re trying to do this with stablecoins, forcing them down everyone’s throats. In America, the GENIUS Act is basically forcing that system as an option from what I understand of it.
I’d go XMR anyway, since unlike stablecoins (Circle or Tether), I’d want to use something that doesn’t have surveillance, a kill switch, and something transparent like Bitcoin’s blockchain (of which is transparent and auditable). All, of course, I’d advocate on hardware designed to self-custody your XMR and BTC, and never sending your Bitcoin anywhere (because you get taxed otherwise).
