At best, it’s economic rent with holders getting free money from workers.

The workers are the ones securing the network. Anybody can participate, providing they have as little as 0.01 ETH to put up as collateral.

At worst, it’s a game of musical chairs that only people who don’t use the money can win. Profits from securing the network ought to automatically adjust towards zero.

Ethereum base fees are in fact sent to a burn address and removed from circulation. Validators get priority tips only.

PoS is why Ethereum bailed out everyone with money in the DAO.

PoS is unrelated to the DAO hack. PoS is a consensus mechanism change from PoW. Instead of solving increasingly more difficult and energy-intensive puzzles to determine who gets to process the next block, in Ethereum it’s randomly chosen amongst the validators.

• Firstly, the DAO fork was not a rollback or bailout. It was a unique situation where the hackers had to wait 28 days for withdrawals, so a smart contract change was executed.

• There was strong consensus across developers, users, miners and community alike - it was hardly a centralized decision.

• Those who disagreed simply moved to Ethereum Classic. It’s a win-win situation for all.

• Ethereum was still a very, very new project then. You know which other project did a rollback when it was less than 2 years old? Value overflow incident - Bitcoin Wiki

• EIP-999 being rejected is the final deathblow to this hypothesis. There was a chance to rollback 500,000 ETH to an entity managed by one of its co-founders, and the community overwhelmingly rejected it. Rollbacks do not happen on Ethereum.

Upgrading Bitcoin is a great idea

An idea that virtually NOBODY in the bitcoin community agrees with. The entire value prop of Bitcoin is that it’s ossified and simple.

But I would not consider Ethereum’s security model to be an upgrade

Ethereum’s model is sustainable 10, 20, 50 years from now. In order for Bitcoin’s security to be sustainable, the price of BTC must rise. Each Bitcoin halving reduces the block reward for miners … so unless the price just goes up forever as Bitcoin literally burns the planet, the result is a decrease in the overall hashrate of the network, allowing for an easier attack.

This is demonstrably true: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4727999

Aside from the long term security guarantees that every Bitcoiner is just ignoring, the narrative around energy usage has pretty much gone away. Why? I have no idea. Ethereum in comparison has gone to PoS and reduced its energy usage to near trivial amounts while at the same time democratizing securing the network in a way more sustainable way.

Ohhhhh, the “T” word. Ez block for this uninformed and ignorant troll.

Pushing powerlessness? What are you doing to stop this? I’m with DSA and fighting IRL to stop this. Have you organized any protests? Have you phone banked anybody? Have you distributed literature? Have you actually gone out and talked with real human beings about what struggles they are feeling?

Kids were still in cages during Biden. Prison slave population still highest history. Biden started the genocide and handed it over to trump. Biden deported more people than trump. Biden didn’t feel like codifing roe. No min wage discussions whatsoever. No universal healthcare. Harris wanted a stronger border than trump and bragged about it. Half of the US can’t even afford a 1 bedroom apartment under Biden and Trump alike.

The two parties exist to appease their corporate donors. Nothing they do is in your interests.

By the way, progressive measures passed in many states, even states that Trump won. People want progressive policy but neither party is willing to deliver. This is a feature, not a bug, of capitalism.

There’s always conveniently a cohort of Dems that vote against party lines. Every. Time. Then they can shrug and say “welp, we tried”.

Two sides of the same capitalist shit sandwich.

Tunic

I’m an ETH-head. I understand it. It makes sense. Bitcoin? Bitcoin doesn’t make any sense to me. I have severe concern about its long-term security model and the community’s overall lack of desire to change anything about the protocol, including its security model.

That said, I’m overall negative about crypto in general these days. VCs, corporations, institutions, politicians, etc have all seemingly co-oped crypto in a big way. There’s not much about the original cypherpunk ideals that remains anymore.

I’m part of Breadchain, a project spearheaded by The Blockchain Socialist to promote and fund left-aligned crypto projects that help workers and coops, etc. But again, these days I’m getting very jaded about the trajectory of crypto.

USA funded the killing of millions in South America, Asia, and Africa in the 50s-60s. Genocide of Native Americans, Manzanar, slavery, prison slavery, nuking japan…

It’s hard to pick the worst.

Usually, my attempts to use it are either thwarted by issues installing, issues booting, or general problems while using it… leading to “catastrophic failure” that I can’t fix without digging into hours of research and terminal commands.

This was my experience as well … 20 years ago. I’ve not had many of these issues over the past few years using any distro. I used Debian for a couple years and now I’m on Arch. Really, it just works for me…

TBH now that I think about it, I ran in to more issues with Ubuntu than just simply using Debian.

Continue blaming everybody except your out-of-touch party

It’s a meaningless word that liberals and anti-communists use to try and down-punch and discredit us.

https://youtu.be/YVYVBOFYJco

I believe Norway still has a lot of good systems to take care of its citizens.

Sure, I’m not saying welfare programs are bad, but the system is still Capitalist. We’re already seeing policies being rolled back as the pendulum swings. Norway is able to afford its citizens these luxuries because of its historical exploitation and wealth. That, and because of the proximity to the Soviet Union; they feared uprising similar to what was going on there, so concessions were made. It’s always concessions.

tankie triad

Anybody who uses the term “tankie” can safely be ignored and blocked.

but social democracy has been a good way of keeping capitalism in-check in Norway

Even though some of these concessions have been rolled back? Also, Norway, etc were able to offer these concessions by exploiting other countries.

What I am interested in learning is how society would operate and function under socialism / communism. More about the differences. Preferably from less dry sources than The Capital from Marx. Where can I learn more? Preferably a bit entertaining.

A podcast called Actually Existing Socialism is really good!

glad you enjoyed your stay!

Oh look, another liberal blaming eveybody and anybody except the traish-tier Democrat platform/candidate.

At our DSA rally, one one Zionist showed up to stir up some shit, but he left pretty quickly

I don’t really believe in ethical consumption, but Penzys spices are awesome! They’re such troll too, I love it!

I’ve had accounts shadow banned due to VPN. I’ve had more accounts banned from subs due to annoying mods. I’m still on reddit, but I really do prefer the non-corporate/non-VC-backed social media

Liberals will claim that they are furious at what’s going on and then proceed to vote for another capitalist who perpetuates what’s going on, all while refusing to listen to Socialists. 🤷‍♀️

Leftists, of course. Liberals will continue to be in denial for the foreseeable future. Conservatives just dgaf.