Anus B. Samus

Mullvad Gang 😎

Sorry disagree with most stuff and I also don’t see what such a system would improve for the majority of people.

But let’s not argue anymore let’s just agree to disagree.

In theory. But then real life happens:

• You may not always have interner and power but need goods
• You may send money to the wrong wallet -> gone forever (doesn’t even have to be yout fault, great target for man in the middle attacks)
• You may forget your passphrase or your grandpa dies and you inherit nothing as nobody can access the money
• You want to pay in you supermarket. Great you have to wait till you transaction gets processed as this is super slow. And wait until many more people use this currency.
• It’s pseudonymous not anonymous. Everyone you send money and know in real life knows about your financials in detail 👌🏻

Macro things:

• It’s great to freeze assets of people who are shit
• It’s great to be able to control the amount of money in the system to counter crisis or just keep the economy healthy
• It’s great when people pay taxes
• Fixed amount of coins means deflation in the long run and deflating economies die faster than you can blink
• Proof of Work burns our world and Proof of Stake is oligarchy. Today the distribution of most coins is worse then normal currencies. (Richest have almost everything)

One of my favorite things said about crypto by famous german hacker Linus Neumann about crypto was something like: They where so obsessed with whether they could make digital money work, and the technical is super smart. But they forgot to think about if they should.