Comment on Please Stop

• emilStigsson@lemmy.world ⁨9⁩ ⁨months⁩ ago

  Bitcoin Core is MIT licensed.

  There is value in having core functions of society like social medla and money decentralized and running on open source software even though it will not fix wealth inequality.

  Like the rest of society, some people get ridiculous wealth by luck of being at the right place at the right time. That is no reason to hate on open source money.

  There are many issues with bitcoin but that one I do not buy.

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  • reassure6869@lemm.ee ⁨9⁩ ⁨months⁩ ago

    Bitcoin Core is MIT licensed.

    the software is, but what relevance does that have to people using it as currency?

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    • emilStigsson@lemmy.world ⁨9⁩ ⁨months⁩ ago

      It is similar to open source social media. No single entity is in control. No single company or government that can use that power to control the users. For the end user the result is that bitcoin is more like paper cash than other digital money. You and only you are in control. It is extremely hard to stop you from sending or receiving money.

      Just like with the fediverse, there is no Elon Musk or Mark Zuckerberg to kick you out. With bitcoin there will be no Putin or Trump to freeze your bank account.

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      • basxto@discuss.tchncs.de ⁨9⁩ ⁨months⁩ ago

        The big difference between bitcoin and cash is: When my employer pays me in bitcoin, they can see which wallets I give it to. If all stores and online shops use bitcoin, they’ll publish their bitcoin adresses on their website etc. like they already do with bank account numbers. That means my employer could see where I’m shopping at.

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      • reassure6869@lemm.ee ⁨9⁩ ⁨months⁩ ago

        It is similar to open source social media.

        thats federation, not open source. reddit was open source for a while, but not federated – and now we are here. whatsapp uses an open source protocol, but isnt federated – some asshole hawaiian (resident of hawaii, not the other option) controls it. Signal is open source, but won’t federate, its controlled by people who are way more into crypto than helping their users.

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  • reassure6869@lemm.ee ⁨9⁩ ⁨months⁩ ago

    Like the rest of society, some people get ridiculous wealth by luck of being at the right place at the right time. That is no reason to not have open source money.

    thats not the point, there have been studies that show bitcoin is fairly vulnerable to 50% control due to early adopters and other wHaLeS controlling the currency. and the studies can show this because bitcoin isnt private.

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    • emilStigsson@lemmy.world ⁨9⁩ ⁨months⁩ ago

      Alright, do you mean concentration in hash rate (mining)?

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      • reassure6869@lemm.ee ⁨9⁩ ⁨months⁩ ago

        don’t recall, it covered both bitcoin and etherium and investigated who owned what. ill see if i can’t find it.

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