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by paxpelus 3194 days ago
Many people on HN are so negative in bitcoin that it seems that they are focused on the tree instead of the forest. This technology can solve the main problem human society faces and this is corruption. Human greed is what keeps bitcoin alive but this is not a bug, it is a feature.
2 comments
ship_it 3194 days ago
To be honest, Bitcoin in no way does solve corruption. Actually, Bitcoin in current state can only increase corruption in society by giving a sense of anonymity. Political corruption on other hand, might be solved through it, but thats the case we are left to see.
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paxpelus 3194 days ago
Bitcoin is not completely anonymous. The discussion is not only about Bitcoin or PoW. We found a way to do transactions that nobody can tamper with. We managed to solve a really serious problem and this is that when money is involved people get greedy and corrupt. No human being should be in a high enough position to steal money or tamper the transactions or commit fraud. It is so obvious that distributed ledgers are a solution to this and it disappoints me that the HN community cannot see it.
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knocte 3194 days ago
Maybe the OP refers to corruption as two political/financial practices: QE and fractional reserve banking.
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lawlessone 3194 days ago
>QE and fractional reserve banking.

Those are features.

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knocte 3188 days ago
Nope, those are the main bugs of our current system.
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Asdfbla 3194 days ago
How is bitcoin a good model for humanity? If anything, it strives to do away with the little trust there is left in society and replace it with an antagonistic system where everyone is out to sabotage their peers, only being held back by a (intentionally wasteful) proof-of-work mechanism that enforces compliance with the protocol. That's a dystopic vision for humanity if I've ever seen one. Unnecessary too, since trust-based systems have more or less worked so far.

Not to mention that proof-of-work isn't ecologically sustainable on a larger scale anyway.

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drcross 3194 days ago
>Not to mention that proof-of-work isn't ecologically sustainable on a larger scale anyway.

Anyone who says this hasn't been to massive datacentres to see what infrastructure it takes to share your cat videos and avocado toast images. If Crypto wipes out a few banks the costs will be completely negated anyway.

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