this post was submitted on 04 Sep 2023
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chapotraphouse
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Just to entertain the idea for a second that some shitcoin will actually level the global market. Let's ignore the fact that there are plenty of ways to re-annonymize coins and all the other problems with it.
What would compel any holder of large capital to use it? What is the fulcrum of power that will stop these entities from using fiat currencies? If the global system right now benefits them so much (it does) why would they give it up and use something that doesn't?
This is fanfiction. There's no analysis of power, no analysis of capital, no understanding of the overwhelming problems with any blockchain technology.
And worse it's boring. If you're going to be a leftist crank about some weird thing, do aliens or something
Now hold on, block chains are totally capable of running programs. Smart contracts are a thing. This could be implemented, technically, in some fantasy world where things happen for no reason. Cranking about cryptography is cool and good.
Dont forget that in your fantasy world the program code would have to have 0 bugs!
The periphery will simply align themselves with the existing Chinese pole of influence, why the need for a block chain? Surely a totally new economic technology would take decades to legislate, specify, code, verify, and implement? There's no way it happens as a reaction to something, it would be like a space race level of effort