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A lot of people hate crypto, and I can understand, however... (beehaw.org)
submitted 1 year ago* (last edited 1 year ago) by noctisatrae@beehaw.org to c/chat@beehaw.org
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… the founding ideas are promising, and something I dream of.

Before I start, just a little bit of background on me so you can understand how biased I am (😅): I’m a 16 years old programmer and I won a few crypto hackathon/funding rounds and I made a lot of friends in the field. It allowed me to get quite a bit of ETH/XMR along the way!

I see cryptocurrencies getting a lot of hate, rightly so for the number of scams, shitcoins, NFTs bullshit, “governance”, DAOs and all those often useless & snob terms.

However the founding ideas of decentralisation and freedom with your money are very appealing to me. Smart contracts are really interesting for creating your own banking operation and tokens can represent anything! It’s a world of possibilities to play with, and you get to build something useful for people!

I’d just like to add a bit of nuance tho: I see a lot of apps being built and what’s really making me laugh is the lack of open-source, decentralisation and auditing on privacy. Granted, there is a lot of fake promises, but it’s like everything, you have to find the talented people to follow.

I find it fascinating to build unstoppable, decentralised, user-first apps. I just hope that web3 stays true to its founding principles.

Hope it was interesting, tell me what you think!

EDIT: title+typos+the game is not comfortably played in Act 2

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[-] MayonnaiseArch@beehaw.org 38 points 1 year ago

Main thing: you won't solve societal problems with technology. All of the problems we have today can be solved using what we have but we don't want a better world.

[-] Gaybees@artemis.camp 20 points 1 year ago

Exactly. We have all the tools we need to solve society’s problems, we’ve had them for thousands of years. The issue is that it would make it harder for people in power to continue to accumulate power and money, so it won’t happen.

Crypto cannot solve this, it’s actually making the problem worse since it allows very wealthy people to launder dirty money for (almost) free.

Crypto also has an absolutely horrendous reputation with the general population who only hear about the scams, so using it in/with your products severely restricts who will buy your products.

[-] jarfil@beehaw.org 1 points 1 year ago* (last edited 1 year ago)

CIA triad - https://en.m.wikipedia.org/wiki/Information_security

There is no non-technological way to solve the paradox of "Confidentiality, Integrity, Availability", like for example required for publicly verifiable unique secret votes (that's a societal problem, can even find it in the media these days).

The closest thing there is right now, comes fueled precisely by crypto tech with ZK proofs:

https://en.m.wikipedia.org/wiki/Zero-knowledge_proof

this post was submitted on 24 Aug 2023
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