Im interested in cryptos, because it could serve as a foundation for an internet funded by people and communities. A crypto that protects people’s privacy and has a low energy cost.

But is this enough to make it ethical? Are there other aspects to take into concideration? Or is ethical cryptos possible?

In particular Im looking into Mobilecoin which Signal has integrated into their app.

  •  Kinetix   ( @kinetix@lemmy.ca ) 
    1•2 years ago

    That’s an interesting premise, that somehow a currency is going to change the nature of how “the internet” is funded. So, none of the world’s currencies have done this, but a “currency” that isn’t really a currency is going to change around the entire economics of everything online?

    There’s so many fun presumptions in that notion that it’s hard to even start a discussion.

    The short answer is no. I think there’s more than enough evidence out there that cryptocurrencies will remain niche, and this ridiculous ‘web3’ notion of every interaction being a transaction will simply just not occur, much as any bros try and wish and argue for it.

  •  CHEF-KOCH   ( @CHEFKOCH@lemmy.ml ) 
    0•2 years ago

    Cryptocurrencies is the future, one way or another.

    We need to get rid of traditional banking, improve the blockchain process and find a way to block mining, then we are much more efficient than traditional banking because you can easily do thousand transactions within milliseconds without depending on external middle mans.

    My idea is that Govt. takes over cryptocurrencies and that traditional banks monitor and improve the system. So you still have your bank, the govt is happy because they can monitor potential fraud and we get a more privacy respecting system.

    The entire ponzi scheme discussion only stands and falls with mining. If that is out of the equation then we are pretty much ready to go, China uses their app, so there is no hard cash anymore and it works pretty well for them.