I have a hard time reconciling the social justice goals of some cryptocurrencies with this initial period where people are basically creating wealth out of thin air by doing useless computations at the cost of enormous electricity.
How are we any better for it? A select group gets rich, there is rampant speculation and fraud... but we're fighting "the man" so it's all good?
I can't see how society is better for this (or ever will be).
I've mined some BTC and ETH while thinking about these issues and I can't see a future where anything is different so I've stopped. It seems we'll replace bankers and oil millionaires with miners and early adopters... and the average Joe is where it was always.
Sorry for thinking out loud all these disconnected thoughts. I really want to believe but I'm having a hard time.
Meanwhile, it seems I'm doing better for society if I donate my spare resources to some distributed computing project to research cancer, AIDS, etc.
Where do you see the future in 50-100 years if cryptocurrencies take off for good?
How are we any better for it? A select group gets rich, there is rampant speculation and fraud... but we're fighting "the man" so it's all good?
I can't see how society is better for this (or ever will be).
I've mined some BTC and ETH while thinking about these issues and I can't see a future where anything is different so I've stopped. It seems we'll replace bankers and oil millionaires with miners and early adopters... and the average Joe is where it was always.
Sorry for thinking out loud all these disconnected thoughts. I really want to believe but I'm having a hard time.
Meanwhile, it seems I'm doing better for society if I donate my spare resources to some distributed computing project to research cancer, AIDS, etc.
Where do you see the future in 50-100 years if cryptocurrencies take off for good?