Centralize decentralized (cryptos) (lemmy.ml)

submitted 3 years ago* (last edited 3 years ago) by danileonis@lemmy.ml to c/anarchism@lemmy.ml

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Does the Satoshi revolution need more time?

Most governments are introducing taxes on wallets and NFTs, and all content creators in the industry care to teach you to pay your taxes properly.

The biggest threat to global finance embedded in the system, in general indifference.

Wasn't this supposed to be in every person's hands? Off-grid, decentralized as it is in its nature?

(edit)

Yes, I haven't read "Mutual Aid: A Factor of Evolution" by Kropotkin wich I discovered only recently.

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[-] BetaDoggo_@lemmy.world 1 points 3 years ago

Crypto hasn't been decentralized for a very long time. For most coins large miners/pools have control over the transactions. Proof of stake is far worse. Most coins are traded via centralized exchanges as doing anything on chain is slow and often has high fees.

Blockchain in its current form is not the answer for decentralized value exchange. I'm not sure if a proper decentralized currency can even work in practice. Currencies must be backed by something to have a stable value. In nearly all cases you need a central entity that will guarantee a currency's value.

this post was submitted on 15 Oct 2023

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