Cryptos can be a useful technology in certain targeted fields but they are not the solution to capitalism, it is much more important to focus on social issues and mutual aid.
this post was submitted on 20 May 2024
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How are you asking Linus about crypto and not about the blockchain.
I only like two cryptocurrencies.
Nano: free transactions, each wallet runs it’s own blockchain, so it’s got no negative impact on the environment.
Monero: allows for anonymous transfers
I ask this sincerely, what have you personally needed an anonymous currency for?
I used Monero to pay for my domain and VPS while under sanctions and thus failed by the mainstream payment system. And in daily life I use pretty much only cash.
Also the phrasing of this implies some "nothing-to-hide" mentality. Would I be in danger if I paid for my stuff with a KYC method? Not really, I connect to my VPS and request my domain daily from home, their existence is not secret. Do I benefit from the transaction being anonymous? Still yes, the less data you trust the third parties with, the better. Same as to why I encrypt my chats even though they are mundane. Just because they are nobody's business.
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Buying groceries. Personally, I guess I don't need an anonymous cryptocurrency, but why wouldn't you have an anonymous cryptocurrency? That would be the equivalent of letting everybody in the world see your bank account and your withdrawals and deposits. And who would do that? That and while people would like you to believe otherwise, you still have a right to privacy.
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The obvious one is buying drugs. I don't feel like arguing the morality of doing that but anonymous money is definitely useful for that.
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Is this going to be the most replied to post on the Fediverse? 635 in 2 days and still going strong.
Edit: since it's now at 666 replies, please nobody make any more comments
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Based