Cryptos can be a useful technology in certain targeted fields but they are not the solution to capitalism, it is much more important to focus on social issues and mutual aid.

The value of a crypto token is ostensibly related to the value of the apps which the blockchain supports. It's meant to be both a form of compensation for participating in the network, and as currency for purchasing services from blockchain apps. That's how it derives intrinsic value. So if there is social media which runs on a blockchain, then the hosts within that blockchain get tokens for participating, and eg, advertisements or subscriptions are purchased in tokens. This means those who manage those participant nodes can sell their tokens to those who want to buy blockchain services. As the cumulative value of these services grows, an entire crypto economy is established, and it becomes effectively another form of fiat which has a real exchange rate backed by some real economic activity.

This is how it's supposed to work. The problem is that we just don't have any compelling apps, and the initial speculation has all but ensured that this cannot happen organically because the market cap is already just so much bigger than any realistic medium term outlook for intrinsic value. Bitcoin's blockchain would have to support some form application value which is bigger than the biggest companies in the world, and right now it basically has zero useful applications.

Inventor sounds funny but i guess its correct

What if... crypto currency has been a psyop all along. Ultimately eliminating physical currency and government having full blown control of digital currency.

Is this going to be the most replied to post on the Fediverse? 635 in 2 days and still going strong.

Edit: since it's now at 666 replies, please nobody make any more comments

Like.......he doesn't think it exists?

Love how privileged people who never ever had to hide money from their governments debate the usefulness fo crypto. Ask him about woman hygiene products as well.

comrade Torvalds?