Post AL7ZGC4sHLaGOBhozQ by ruffni@mstdn.io
(DIR) More posts by ruffni@mstdn.io
(DIR) Post #AL7ZGAm37qvoLVtH0a by aktivismoEstasMiaLuo@activism.openworlds.info
2022-07-03T16:03:11Z
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Security expert advising Congress admits he does not understand the problem #cryptocurrency attempts to solve.#WarOnCrypto
(DIR) Post #AL7ZGBE3RjKhkMzdey by ruffni@mstdn.io
2022-07-03T16:18:30Z
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@aktivismoEstasMiaLuo the dude is literally a cryptologist and one of the more advanced consultants in the field... maybe you want to explain your sentiment?
(DIR) Post #AL7ZGBezpYsr5vb9ea by aktivismoEstasMiaLuo@activism.openworlds.info
2022-07-03T16:39:09Z
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@ruffni I know who he is. Not understanding the problems solved by cryptocurrency makes him poorly qualified to present his view to #Congress. If you are in extreme opposition to blockchain existence then it’s even more important to understand the problems it solves when making a case against it. Otherwise there’s no reason to bother- if it solves no problems why look further? scrap it.
(DIR) Post #AL7ZGC4sHLaGOBhozQ by ruffni@mstdn.io
2022-07-03T16:42:14Z
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@aktivismoEstasMiaLuo which problems do blockchain technologies solve?
(DIR) Post #AL7ZGCVofB8PjkJKz2 by aktivismoEstasMiaLuo@activism.openworlds.info
2022-07-03T16:43:15Z
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@ruffni https://thefreeworld.noblogs.org/post/2022/06/28/24-problems-solved-by-cryptocurrency/
(DIR) Post #AL7ZGD1MlsN7Jb4XA0 by aktivismoEstasMiaLuo@activism.openworlds.info
2022-07-03T16:50:39Z
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@ruffni Banks have countless problems. I may be persnickety but I do not want to be dependant on banks who can exclusively control my access to my own money when cash & cryptocurrency are gone. When banks have full power over me they can (e.g.) force me to run their spyware app. I want the right to boycott banks. In a cashless world cryptocurrency is the only escape.
(DIR) Post #AL7ZGKlLzIJhKFdrJQ by aktivismoEstasMiaLuo@activism.openworlds.info
2022-07-03T16:42:18Z
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@ruffni If Schneier understood well the problems #cryptocurrency solves, and then he still advised against it, then there might be some credibility to his analysis because he would have viewed it through the lens of solving those problems and addressed them. Instead he just neglects the existence of the problems, and evades.
(DIR) Post #AL7jAIjlbZCMqbf5iy by ruffni@mstdn.io
2022-07-03T16:54:20Z
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@aktivismoEstasMiaLuo how does ypur dependence on banks differ from your dependence from ledgers or the addition of your transactions within them?de-centralized doesn't mean "less centralized" it means you can be your own bank if you wish -- which is clearly not a thing that is solved by any crypto currency
(DIR) Post #AL7jAJDXor1AKxas8e by aktivismoEstasMiaLuo@activism.openworlds.info
2022-07-03T16:58:33Z
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@ruffni Looking at the 24 problems solved article, I don’t think any of those problems would manifest from a ledger. Most importantly, I wouldn’t want banks to be wiped out entirely because then those in control of the blockchains would have an imbalance of power just as banks do now. Both options need to be on the table competing against each other to avoid the race to the bottom.
(DIR) Post #AL7jAJd4HxQzc7XFvE by aktivismoEstasMiaLuo@activism.openworlds.info
2022-07-03T17:01:46Z
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@ruffni If you consider how payment networks colluded in a voluntary political action to block donations to Wikileaks, that was possible because cryptocurrency was less common then & still hasn’t matured to be substantially viable. It was a demonstration of financial institutions abusing their power even when cash & cryptocurrency had a small role. Imagine when banks have total reign.