candle_lighter comments on Cryptoflation

Microblog Memes

12,119 readers

10,731 active

3,375 users here now

A place to share screenshots of Microblog posts, whether from Mastodon, tumblr, ~~Twitter~~ X, KBin, Threads or elsewhere.

Created as an evolution of White People Twitter and other tweet-capture subreddits.

RULES:

Your post must be a screen capture of a microblog-type post that includes the UI of the site it came from, preferably also including the avatar and username of the original poster. Including relevant comments made to the original post is encouraged.

Your post, included comments, or your title/comment should include some kind of commentary or remark on the subject of the screen capture. Your title must include at least one word relevant to your post.

You are encouraged to provide a link back to the source of your screen capture in the body of your post.

Current politics and news are allowed, but discouraged. There MUST be some kind of human commentary/reaction included (either by the original poster or you). Just news articles or headlines will be deleted.

Doctored posts/images and AI are allowed, but discouraged. You MUST indicate this in your post (even if you didn't originally know). If an image is found to be fabricated or edited in any way and it is not properly labeled, it will be deleted.

Absolutely no NSFL content.

Be nice. Don't take anything personally. Take political debates to the appropriate communities. Take personal disagreements & arguments to private messages.

No advertising, brand promotion, or guerrilla marketing.

RELATED COMMUNITIES:

founded 3 years ago

moderators

[–] candle_lighter@lemmy.ml 5 points 2 years ago (2 children)

Bitcoin doesn't even do the job of decentralization very well either. The blockchain is controlled by the wealthy miners with warehouses full of asic miners. Monero is a better cryptocurrency for that reason.

permalink

fedilink

source

parent

hideshow 4 child comments

[–] Buffaloaf@lemmy.world 3 points 2 years ago (2 children)

I thought Monero was just for buying drugs

permalink

fedilink

source

parent

hideshow 4 child comments

[–] GortexGary@lemmy.world 1 point 2 years ago

Would you want to buy drugs with a centralized currency?

permalink

fedilink

source

parent

[–] candle_lighter@lemmy.ml 1 point 2 years ago

https://monerica.com/

permalink

fedilink

source

parent

[–] Immersive_Matthew@sh.itjust.works 1 point 2 years ago (2 children)

Miners do not control the blockchain though.They just offer to verify transactions and maintain the blockchain. They have no control over the price, the algorithm, the supply etc. not saying Monero is not a good choice too.

permalink

fedilink

source

parent

hideshow 4 child comments

[–] candle_lighter@lemmy.ml 0 points 2 years ago

They just offer to verify transactions and maintain the blockchain.

Unfortunately that's the issue. Only a small amount of miners are the ones making a significant dent in mining. Consumer hardware cannot compete with the corporations with large asic mining warehouses, especially ones run by governments and large corporations. This leads to further centralization due to the high barrier of entry and makes the blockchain susceptible to manipulation and things like a 51 percent attack.

permalink

fedilink

source

parent

[–] adrian783@lemmy.world 0 points 2 years ago (1 child)

still, 90% of the Bitcoin is concentrated in the top 1%

permalink

fedilink

source

parent

hideshow 2 child comments

[–] Immersive_Matthew@sh.itjust.works 0 points 2 years ago

That does not make it bad though. Bitcoin is not able to solve all monetary issues nor was it designed to. No monetary system right now solves that issue. This is like saying an EV is bad as it still can speed and kill people without recognizing all the other benefits over gas cars.

permalink

fedilink

source

parent

lemmy:	0.19.20
mlmym (mschae):	26.3.4