this post was submitted on 21 Jan 2025
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Decentralized Social Media Is the Only Alternative to the Tech Oligarchy (www.404media.co)
submitted 1 day ago by FundMECFSResearch@lemmy.blahaj.zone to c/technology@lemmy.world
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[–] porsche13@lemmy.today -1 points 23 hours ago (2 children)

Decentralized money as well. We need to move away from the control of government and corporations (they are now one and the same). I'm putting more and more of my money in bitcoin. The dollar will continue to erode while wages stay flat. And Trump and his new oligarch buddies will completely decimate the American economy and stock market while they make out like bandits, leaving everyone else the bag holder. Your 401k isn't safe anymore.

[–] cy_narrator@discuss.tchncs.de 1 points 22 hours ago (1 children)

Trust me bro, if your underground stash of money is robbed or stolen because you refuse to trust a bank to safeguard it, it will be considered your fault

[–] explodicle@sh.itjust.works 1 points 8 hours ago

You should have backups with a passphrase, in different locations. So if the underground stash is stolen/corroded, or if the bank opens up your safe deposit box, then your money is still safe.

Is this easier? No. Is this what we've come to? Yes. Now that we've got a choice, it's our own fault no matter which system fails us.

[–] shortwavesurfer@lemmy.zip 1 points 22 hours ago* (last edited 22 hours ago) (1 children)

Same but with Monero. I don't need my friends, neighbors, $5 wrench attackers, and governments knowing how much money I have. And neither should you.

[–] explodicle@sh.itjust.works 1 points 8 hours ago (1 children)

There's an add-on for Bitcoin called the "Lightning Network" that adds onion routing like Tor.

[–] shortwavesurfer@lemmy.zip 1 points 8 hours ago (1 children)

Yes, but it does not work well. You constantly get failing payments due to inadequate channel liquidity unless you're using a large centralized wallet provider and using a large centralized wallet provider defeats the purpose of peer to peer digital cash that's uncensorable.

[–] explodicle@sh.itjust.works 1 points 6 hours ago (1 children)

I've been using the Electrum wallet for years now with no issues.

[–] MalMen@masto.pt 0 points 6 hours ago (1 children)

@explodicle @shortwavesurfer as someone that is using it profissionaly, we dont have route for payments more times than I would like to admit...

[–] explodicle@sh.itjust.works 1 points 1 hour ago

Electrum or a different wallet?