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by mouzogu 1010 days ago
> It's a technology.

cryptocurrency is hated because it turns every action into a transaction.

a system with mistrust as its core principle. where the enablement of scamming masquerades as freedom.

basically thousands of incompatible pay-to-play messaging protocols all imbued with some pretty dark zero-sum incentives and fancy jargon

1 comments

> basically a technology for transferring and swapping tokens whose value is based on speculation.

So it's a market. Like double entry bookkeeping. Are you similarly triggered by NASDAQ or Quickbooks or point of sale systems that use Postgres instead of a blockchain?

> its basically a pay-to-play messaging protocol with fancy jargon.

It's a fee based messaging protocol with a demand based pricing mechanic for limited block space. All messaging protocols are pay-to-play. Someone is paying for it and whatever infrastructure it runs on, even if it's free for you (via ads, spyware, etc). Only difference with a blockchain is that the infrastructure costs and fees are transparent, and it avoids dependency on a central actor.

i'm not saying there's no merit in it.

just pointing out why I think people hate it and i think there are some valid reasons.