Using crypto is a good thing in my eyes, but you seem to be convinced that crypto is all evil and a scam.
We've seen in recent years that fiat payment systems are ran by bad actors, that will on a whim revoke access to their systems to any entity they deem "problematic", even if no laws have been broken.
Crypto allows entities to freely exchange money without having to worry about passing some arbitrary purity test or getting witch-hunted into oblivion.
The entire space is a scam? Luke makes some good points and some not so good points about the challenges with the technology.
He acknowledges that every single digital transaction you make can be seen by banks, for example, and yet does not propose an alternative solution. Credit card data is among the most valuable, and sold many times over to advertisers.
Do you personally think that that is a problem worth figuring out how to solve? If you don’t, it’s going to be hard to see the point. Similar to how we don’t need encryption because we have nothing to hide.
You are linking to those as if I haven’t read them – I have! I find the grift in the space just as gross.
You didn’t answer my second question about whether you (yes, you, not Stephen Diehl) think that having a private way to transact online is important. Do you?
The next question for you is a little more philosophical – say cryptocurrency is bad, evil and should be “gotten rid of”. What do you propose we do about that? Ban Proof of Work? Yell about it online and pretend that’s going to make it go away? Nothing I have heard about “what to do about it” quite makes sense. I think the actual answer is going to involve convincing people of things – people who work in cryptocurrency. Unilateral critics are working pretty hard against themselves in that regard.
The overall stance reminds me of people who think Facebook or Spotify are evil – they very well may be, but they provided such a massive utility to the world that the ideas are not going away (a social network connecting most humans on earth and an instantly accessible database of most music ever recorded). You have to fix what is out there, because you can’t really put the genie back in the bottle.
Tight regulations is the solution and is needed on the crypto space.
The privacy tokens will be first, Monero, ZCash, etc, they will be completely banned and made illegal due to this, (why does Coinbase still not allow these tokens?)
Next, we need to crackdown tighter on the exchange ramps, we only have to look at the Tether fraud [0] that is happening, then the crackdown will begin on the whole space.
Then the crash will happen from there and the fallout would be terrible for people who bought these now worthless casino chips. So maybe that crypto will still exist but way less people will use them, especially the privacy ones.
So while you refused to answer the question about how you would solve the problem of online financial privacy, your statement that regulation is needed juxtaposed to what looks like excitement that the first thing to be banned (which also BTW ignores part of the challenge you were given: exactly how does one truly ban a private system? at best you are also going to have to ban Tor, which you seem to claim an interest in existing... though I frankly don't believe you anymore) will be "privacy tokens" betrays that you don't give two shits about online financial privacy :/.
You are entitled to your opinion. But it is just that, an opinion. Not fact. Citing other opinions doesn't make your claim, that all crypto and web3 are a scam, a fact.
Only time will tell. In the meantime, I am happy that this project can get any funding from wherever it can. Especially, since open source is a thankless and typically paid-less job.
> I am happy that this project can get any funding from wherever it can.
There is nothing wrong with calling it what it really is. A scam. Complete fact. I can cite countless sources that wouldn't fit this comment box, but instead I point to alternatives as others have asked. [0] [1]
As I said before, solutions exist already outside of accepting and endorsing crypto scam token projects.
We've seen in recent years that fiat payment systems are ran by bad actors, that will on a whim revoke access to their systems to any entity they deem "problematic", even if no laws have been broken.
Crypto allows entities to freely exchange money without having to worry about passing some arbitrary purity test or getting witch-hunted into oblivion.