this post was submitted on 04 Aug 2024
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Bitcoin is Stupid and Does Not Deserve an Emoji (blog post) (thedabbler.patatas.ca)
submitted 3 months ago* (last edited 3 months ago) by smallpatatas@lemm.ee to c/technology@lemmy.world
361 comments fedilink hide all child comments
 

35 crypto companies got together to make a change dot org petition called "Bitcoin Deserves an Emoji".

F that

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[–] deafboy@lemmy.world -3 points 3 months ago (1 children)

GNU Taller is pretty fragile, though. One bank issues unbacked tokens and the credibility of the whole system goes down the drain. It's the current financial system, just rebranded. Also, it promotes taxation which automatically makes it a cult & scam.

[–] TootSweet@lemmy.world 2 points 3 months ago* (last edited 3 months ago) (1 children)

One bank issues unbacked tokens

  1. The Taler protocol has bank auditors built-in.
  2. Your hypothetical would just as much apply to existing debit cards.
  3. Unbacked tokens. You mean like Tether? (Let alone Terra.)

Also, it promotes taxation which automatically makes it a cult & scam?

The fuck? How does Taler "promote taxation?"

Fuckin' Libertarians.

[–] deafboy@lemmy.world -1 points 3 months ago (1 children)

Unbacked tokens. You mean like Tether?

Exactly like Tether. USDT was never backed 1:1 by USD. They don't even try to deny it anymore. They admit it's backed by "various assets, including BTC", which smells like a market manipulation.

How does Taler promote taxation?

"Customers can stay anonymous, but merchants can not hide their income through payments with GNU Taler. This helps to avoid tax evasion and money laundering."

[–] TootSweet@lemmy.world 2 points 3 months ago

Thank you for being honest about being pro-tax-evasion and pro-money-laundering.