Late nite #coffee or how I see it: The crypto tale in a shell of a nut Did I tell you all about my love for crypto? I really like it a lot. Not all of it though, some aspects I dislike, to be honest. Satoshi Nakamoto's basic idea of UBI died years ago with mining farms, fauceteering died with ads moving to mobile platforms. POW proved to be a race among the great instead of distributed work/wealth, POS is in part working, but involves risks and community support. Requirement of a community turns assets into playthings sooner or later and gamification is the worst possible scenario in a way. It gives the argument of "crypto is a toy, a calculation, not an asset, it represents no real world value" a foundation. The positive side is that it attracts the masses, but what happens next is actually not in the hands of any other, than the usual centers of power: exchanges (decentralized or otherwise, bound to coins/tokens or even NFTs) and corporations (as game/platform tokens). And so we made a full circle. Any richer? Thanks @noise.cash for a platform that is an exception to the and thank you @MarcDeMesel for sponsoring. #Club1BCH #RandomThoughts #RandomThought #noisecash #KingOfCoffee
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We all owe Mr. MDM many, many thanks for his generosity. Yes, Noise.cash is the exception these days. Is POW any more decentralized for some of the less popular coins? The problem, of course, is that even if POW is decentralized for an obscure coin, should that coin become popular the rich folk corner the POW market. My goal with crypto is a slow and steady accumulation of wealth via HODLing. So far it is going okay, but unfortunately the "slow" aspect of this strategy seems much more prominent than the "steady" aspect.