… the founding ideas are promising, and something I dream of.

Before I start, just a little bit of background on me so you can understand how biased I am (😅): I’m a 16 years old programmer and I won a few crypto hackathon/funding rounds and I made a lot of friends in the field. It allowed me to get quite a bit of ETH/XMR along the way!

I see cryptocurrencies getting a lot of hate, rightly so for the number of scams, shitcoins, NFTs bullshit, “governance”, DAOs and all those often useless & snob terms.

However the founding ideas of decentralisation and freedom with your money are very appealing to me. Smart contracts are really interesting for creating your own banking operation and tokens can represent anything! It’s a world of possibilities to play with, and you get to build something useful for people!

I’d just like to add a bit of nuance tho: I see a lot of apps being built and what’s really making me laugh is the lack of open-source, decentralisation and auditing on privacy. Granted, there is a lot of fake promises, but it’s like everything, you have to find the talented people to follow.

I find it fascinating to build unstoppable, decentralised, user-first apps. I just hope that web3 stays true to its founding principles.

Hope it was interesting, tell me what you think!

EDIT: title+typos+the game is not comfortably played in Act 2

  • argv_minus_one@beehaw.orgEnglish
    1·
    1 year ago

    … the founding ideas are promising, and something I dream of.

    Hard disagree. The founding idea of cryptocurrency is to trick people out of their real currency. It’s an elaborate fake-money scheme. Good riddance.

    • BruceTwarzen@kbin.social
      1·
      1 year ago

      What always got me was that in these bitcoin bros were always like: yeah, no more big banks, i want to use my bitcoins like money.
      While at the same time go: haha some idiot bought a pizza with bitcoin which would now be worth 40k dollars now, what a dork.
      And everyone goes, you need to hold, i’m gonna hold are you all gonna hold? We’re all holding right? Btw look at this cool billionaire selling his bitcoin at the right time, i wish i was him.
      How did they never seen that they are all just people waiting to fuck over some other people. Bot a pyramid scheme tho

    • Sharp312@lemmy.oneEnglish
      0·
      1 year ago

      It just isn’t though. The major currency, bitcoin, was made avalible in 2008, there weren’t any scams going on back then. It was meant to be as simple as a decentralised currency that the people had full control over. I think that’s a great thing. It wasn’t until scammers and grifters saw a new market that could be exploited because it required a good understanding of how it works to be used properly. Scammers dumbed it down and huge centralised exchanges came in opening the door to scams. However it’s definitely not a currency yet, I’ll agree, it’s more of an asset. It’s such a shame that a technology that could’ve helped put people in full control of their money has been diluted into such a shit show. Whenever I hear about a new project touting “crypto based” or Blockchain i wince like I’m sure you do, because NOW it’s become a scam, it wasn’t originally.