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by astoor
1649 days ago
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In my view web3 is socialist in the same way that the national socialists were, i.e. claiming to support social ownership while really being bankrolled by big business. There's nothing that gives capitalism a worse name than burning 5% of the worlds electricity to generate imaginary money, nothing more socially unjust than (to quote Satoshi) "Lost coins only make everyone else's coins worth slightly more", nothing more oligarchic than the original gangsters and venture capitalists manipulating the cryptocurrency schemes, nothing more kleptocratic than irreversible transactions and unfixable bugs and systems that seem like they're designed to facilitate fraud, and nothing more plutocratic than pyramid schemes and pareto distributions worse than those of any nation state on earth. |
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Second of all, the crypto 'community' is not one giant community with homogeneous ideas, there are many who scoff at being bankrolled by big business and venture capitalists. I can't imagine anything less 'big business capitalism' than a system where no one entity has any control, and where users have the ability to democratically control the services/protocols they use.
There's no requirement to participate in 500000% APY LP farms or buying a bunch of meme coins and shilling VC funded ponzi schemes to be a fan of crypto. Critique that BS all you want but it's not everything.
I would consider myself a socialist libertarian and a fan of crypto. The best part of being free and open source is that we can always come along and make better software and better ways of organizing ourselves. Personally I see DAOs and zero-knowledge proofs as the most important uses so far, I think there's a lot of really cool potential there for organizing systems in ways that weren't possible before.