[pixelpoet]

As opposed to the US dollar, or euro, or ruble or ...?

I will never understand how people fault crypto for not somehow magically solving the world's financial ills, as if humanity has ever had another (successful) plan for wealth distribution. How's that communism working out?

Crypto is meant to solve the trustless distributed ledger problem, nothing more, nothing less. Expecting human nature to somehow change because of this technology is ridiculous.

[bobim]

Exactly the point, it’s not bringing any value to the society beyond what any currency is already providing.

[pixelpoet]

Simply asserting something doesn't make it true; concretely, before crypto, we had no means to trustlessly distribute a ledger, now we do and could start working towards a practical solution that doesn't let random banks and governments mess with currencies as much as they like. I'm not an economist but that seems like a pretty big deal.

I'm not a bitcoin proponent by the way, and am well aware that it has massive downsides like the proof of work energy usage (addressed by proof of stake but often ignored because of bitcoin always taking the spotlight). I'm just sick of people naysaying without understanding the fundamental problem it actually does solve, and pretending there's no value or potential in the technology at all.

[npoc]

Proof of stake is not really any different to fiat.

History has proven time and time again that sound money requires equivalent work to create.

[kaycey2022]

With the USD, Euro etc it’s in the hands of bloodthirsty warlords. This has always been the case so it’s mundane and kind of tolerable. With BTC otoh the “whales” are actually a bunch of fat neck beards who have no real power of their own. That is intolerable. I mean I would rather the world be ruled by a violent psychopath than it be ruled by some nerd.

[pixelpoet]

Wow...