The "mining fleet", if it uses computers, requires electricity. Who controls the supply and sale of electricity.
Nothing against desire to solve world problems but Bitcoin (edit: or any other example of a cryptocurrency) seems to be creating more problems than it purports to solve.
The author calls cryptocurrencies a "predatory investment scheme". In practice, is this not correct. Is it not the lack of "law and order" with respect to cryptocurrencies that allows for this to occur. Please explain. Show me how cryptocurrency is solving world problems. Evidence, not speculation.
When I was young people said that "money" itself was the root of all evil. Today, people online try to convince us that "fiat currency" is the problem. It does not feel like the same idealism.
The original Satoshi paper made his idea sound like it would be possible to implement as peer-to-peer^1 without third parties. All the implementations I have seen to date involve third parties. Doubtful a coincidence that the third parties are all profiting from that involvement.
1. The term now has multiple meanings. Here it is used in the original, Napster sense. Peer-to-peer networking, not, e.g., peer-to-peer financial. Edit: To clarify further what I mean by peer-to-peer, can person A and B, assuming each knows how to reach the other through the internet (address:port), conduct a transaction without involvement of a third party. For example, a requirement for person A or B to "sign up for an account" with anyone else in order to start using a cryptocurrency would be "involvement of a third party". If persons A or B needed to have a third party "mine" the currency before transactions between A and B could occur, this would also be "involvement of a third party".
>The original Satoshi paper made his idea sound like it would be possible to implement as peer-to-peer^1 without third parties. All the implementations I have seen to date involve third parties.
Bitcoin sort of stopped being developed years ago and pretty much everything shifted over to Ethereum where the ethos of Bitcoin were further developed and most of the things people talked about in 2010-2013 were actually developed. For example, Uniswap is completely peer-to-peer and decentralized. Most of DeFi is. If you are at all interested in what is happening in this space it's worth taking a look at what exists and what is being developed.
Nothing against desire to solve world problems but Bitcoin (edit: or any other example of a cryptocurrency) seems to be creating more problems than it purports to solve.
The author calls cryptocurrencies a "predatory investment scheme". In practice, is this not correct. Is it not the lack of "law and order" with respect to cryptocurrencies that allows for this to occur. Please explain. Show me how cryptocurrency is solving world problems. Evidence, not speculation.
When I was young people said that "money" itself was the root of all evil. Today, people online try to convince us that "fiat currency" is the problem. It does not feel like the same idealism.
The original Satoshi paper made his idea sound like it would be possible to implement as peer-to-peer^1 without third parties. All the implementations I have seen to date involve third parties. Doubtful a coincidence that the third parties are all profiting from that involvement.
1. The term now has multiple meanings. Here it is used in the original, Napster sense. Peer-to-peer networking, not, e.g., peer-to-peer financial. Edit: To clarify further what I mean by peer-to-peer, can person A and B, assuming each knows how to reach the other through the internet (address:port), conduct a transaction without involvement of a third party. For example, a requirement for person A or B to "sign up for an account" with anyone else in order to start using a cryptocurrency would be "involvement of a third party". If persons A or B needed to have a third party "mine" the currency before transactions between A and B could occur, this would also be "involvement of a third party".