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Bitcoin is Stupid and Does Not Deserve an Emoji (blog post) (thedabbler.patatas.ca)

submitted 5 months ago* (last edited 5 months ago) by [email protected] to c/technology

361 comments fedilink hide all child comments

35 crypto companies got together to make a change dot org petition called "Bitcoin Deserves an Emoji".

F that

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[–] TootSweet 13 points 5 months ago (20 children)

If you want the name of a payment techology that isn't snake oil, isn't blockchain-based, isn't a cult, doesn't claim to be a currency, doesn't work on proof-of-work or proof-of-stake, but actually does provide certain privacy guarantees for your basic purchasing needs, is cryptographically secure, and can be used with only FOSS, I recommend looking into GNU Taler.

The only downside is that it's not really supported anywhere at all yet. But I do hope it becomes a real thing some day.

[+] radamant -9 points 5 months ago (7 children)

Please describe how I can send the money to my mom in Russia (disconnected from SWIFT) with GNU Taler today. I'll wait.

[–] TootSweet 16 points 5 months ago (4 children)

I don't know how I could possibly have been more explicit about it not yet being ready for any real-world use cases than I was.

[+] radamant -8 points 5 months ago (1 children)

It will never be ready. It doesn't even make sense. To transact with real fiat like the US dollar, you'll have to go through an official on-ramp and an off-ramp of the respective government. And to do an international transaction you'll have to use one of the widely accepted systems like SWIFT. GNU Taler doesn't appear to address anything like that. Anyhow, my comment was made with the premise of this whole thread in mind, i.e. "Bitcoin is stupid" or "snake oil". Yet there's no alternatives to what crypto provides. So is it that stupid after all?

[–] [email protected] 1 points 5 months ago (1 children)

How wasteful!

Anyhow, today I'm going to resume using a currency backed by oil and nukes, which encourages consumption on purpose. I will then either exploit workers by investing in a for-profit business, or get poorer.

But someday, in the future, economics will work the way I expect them to. That's when I'll switch to something better!

[–] iopq 2 points 5 months ago (1 children)

Russia has had oil and nukes and it didn't stop the ruble from collapsing in the 90s