Why does the left hate crypto so much?

Dusty

Tone deaf
I can tell certain people on Twitter SERIOUSLY hate crypto and equate it with the far-right. Can anyone explain?

The core of crypto-twitter historically is very white, US-based, Libertarian. With that comes some baggage. They were pro-Trump, they are pro-gun, they are misogenistic, there's a high incidence of people on the spectrum, incels. Who else would have been taking big risks buying alternative tech currencies on an old Magic The Gathering card swapping website and then bragging about it on Twitter?

Whilst not the traditional far-right... the rise of the alt-right fitted perfectly. These people naturally rub everyone else up the wrong way and give crypto a bad name. Especially now many of them are driving around in custom liveried Lambourghinis.
 

luka

Well-known member
the left broadly speaking is a particular section of the middle class who consider money and the pursuit of money and
talking about money to be crass.
 

luka

Well-known member
i am a member of that class by upbringing and i share these aversions, instinctively. i dont examine them
i just know i feel revulsion for people who focus their attention and energy on the aquisition of wealth.
 

luka

Well-known member
its a section of the middle class that is oriented, loosely speaking, towards service, albeit reasonably
well renumerated service eg doctor lawyer etc
 

luka

Well-known member
i am interested in the spectacle of eg constantescape and his naked acquisitiveness. it disgusts me on a very visceral level
but it interests me by provoking that response
 

luka

Well-known member
i think its also the dream that fuels it is secession from society. you can make enough to not work, to not contribute, to
just live a life of hookers and cocaine. and that is a tawdry and demeaning dream
 

luka

Well-known member
i often tell corpsey this. stay away from people who are younger better looking and more succesful than yourself and you will
feel just fine.
 

Mr. Tea

Shub-Niggurath, Please
Only option then is to find an otherwise uninhabited island in the Outer Hebrides and live there on dew, lichen, and the occasional vole.
 

IdleRich

IdleRich
Where does this idea come from that spending money on hookers and cocaine is somehow less worthwhile than, say, spending it on books or food or using it to help improve a struggling child's life or something? People are so weird and precious about this sort of thing and tie themselves into the most bizarre knots desperately trying to argue that paying for sex is somehow not contributing. It's necessary for many to insist that it's their revulsion towards pleasure and a simple noble-minded choice to rise above petty enjoyment that explains their living a life they hate.
 

Mr. Tea

Shub-Niggurath, Please
Plus, you know, prostitutes have to eat and pay the rent and whatnot, just like the rest of us. So it's practically an act of philanthropy when you think about it.
 

Clinamenic

θερμοδυναμικός καπιταλιστής
One of the unrealistic expectations across crypto, in my opinion, is that the leading permissionless blockchains (Ethereum, Cardano, etc) will manage to totalize the financial fabric of tomorrow.

They will almost undoubtedly play a profound role and, once we get more comfortable and familiar with the tech, enable a better degree of financial inclusion, but the incumbents financial institutions around the world are unsurprisingly choosing permissioned blockchains.

The difference? Permissioned networks only include nodes (computers) that have been approved, one way or another, by whichever party has authority over the blockchain. Makes perfect sense. Last I checked, Wells Fargo is going with Paxos' permissioned bespoke blockchain rather than, say, Ethereum, because that way they get to supervise the protocols and mechanisms that best suit their business model.

If the likes of Wells Fargo went with a permissionless blockchain, all it would take is an influx of nodes operated by those with intentions contrary to big banks (there seem to be a few here and there) and, generally speaking, new updates can be forced upon the blockchain by a renegade majority.

That said, there could well be means of nesting a permissioned blockchain within a permissionless one. Having some exposure to the likes of Ethereum, as a sort of blockchain commons, could reasonably be in the interest of this or that financial institution enterprise.

But I'm far from convinced this is going to flush out the major financial institutions. If anything, it could optimize their business models, from T-2 to T-0, provided they jump on it now, which they sure seem to be.
 
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