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Sub.club is here to help the fediverse make money (theverge.com)

submitted 2 months ago by nave@lemmy.ca to c/technology@lemmy.world

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[–] demesisx@infosec.pub 7 points 2 months ago* (last edited 2 months ago)

It's slower

and virtually impossible to hack

It's harder to use

and virtually impossible to hack

It's full of scams

people are idiots. I have literally never been scammed. If it’s not open source and a small group of insiders have massive bags of it, don’t invest, dumbass. Invest in cryptocurrencies that are TRULY decentralized by actually using your brain and reading.

It's backed by nothing

It has intrinsic value. Gold is only worth something because someone says it has value.

There is no consumer protection

It easily could if regulators weren’t intentionally wishy washy about whether it is legal or not. Regulation will come. Sounds like you’re REALLY chomping at the bit to have the inevitable alternative: revocable central bank digital currencies.

It amplifies the existing problems of the financial system instead of solving them (money laundering/scams/financial inequality)

Not really. It is FAR more auditable than legacy systems. People are dumb. AI magnified how dumb companies are and so did crypto. People that understand it and AI will use it well. Those that villainize it (just like AI) do so because they are brainwashed by polarized viewpoints (just like AI). The truth is probably somewhere in the middle.

It's dominated by the same rich cunts you're trying to escape, but they're even worse in crypto

That’s not true. Look at the financial holdings of billionaires in fiat vs. crypto. It’s FAR more egalitarian than fiat. You have to be talking about some fairly shitty cryptocurrencies for that to be true. Ethereum and Bitcoin have massive institutional investment. Their money is as green as anyone else’s.

All networks generally need L2s because they're so shit and slow

It’s called architecture. Do you also not see the need for GPU’s and dedicated modules on a motherboard? Should the CPU do everything. Multithreading is bad I guess? Are you aware of what decentralization and parallelism can accomplish in technological spaces? Do you actually know what an L2 is? Seems like you don’t understand it.