this post was submitted on 13 Nov 2024
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[–] [email protected] 7 points 5 days ago (4 children)

now your trust relies on your subject never becoming important enough that someone bothers to run 50%+1 of the nodes in your network

Yup. Very well said. People don't realize the extent of wealth inequality (and how ridiculously resource intensive blockchain tech is). If anything important were to be decide by a blockchain, the top 1% would control the network.

More on wealth inequality here.

[–] [email protected] 6 points 5 days ago (3 children)

Today's inequality was created by the Cantillon effect.

[–] [email protected] 4 points 5 days ago (2 children)
[–] [email protected] 1 points 2 days ago

Automation, computers. It was the early '80s that the Australian tax office started automatic processing of tax, removing maybe 30,000 jobs

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