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Article: "What if money expired?"

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odeon:

--- Quote from: conlang returns on January 05, 2024, 09:39:43 PM ---
--- Quote from: Pyraxis on January 05, 2024, 02:07:46 PM ---Processing power is a resource. I don't own cryptocurrency but how is it any more virtual than bizarre mortgage derivatives, stock puts and calls, and whatever other layers over layers of financial nonsense that overpaid Wall Street suits come up with?

--- End quote ---

I think it's all just different forms of gambling.  Some of them do have real world effects on the people who don't play, unfortunately.  And it seems exclusively for the worse.  But I think that's mostly a result of our poor implementation of democracy.  Having so much wealth puts people into a position of power without accountability to the people they hold power over.  So it's real easy to "socialize risks while privatising profits" as I've often heard it stated.

--- End quote ---

Gambling exists regardless of the monetary abstraction. Cryptocurrency's mechanics simply differ from the conventional flavours.

Genesis:
Cryptocurrency is also untraceable when processed right as well... from what I heard it's data mining and mathematics that's above my head.

Also heard that it's a hot commodity for the DPRK to steal away from South Korea and other institutions.

odeon:
They are untraceable now. Probably for some time to come. But forever? I doubt it. There will always be a next level of processing.

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