Cryptocurrency as long term solution for everyone?

[38PTSWarrior]

Thank you for the replies.

[Ander]

A hacker I met said that she is not in favour of crypto-currencies as the long-term solution to replace money for everyone because:

“it involves (1) computers, which in current setup of energy & raw materials needed for using & making them are not sustainable; (2) internet, which is centralized & comercialized & not "secure" as it is now...   and (3) advanced mathematical knowledge needed to use the "currency", which makes it elitistic“

Point 3: How can we bring bts to the uneducated non-elite people so they don*t suffer?

Point 2: The Keyhotee video shows how bytemaster wants to do it. And I think the decentralized internet is coming soon. Will it be non-commercial too?

Point 1: How long until sustainable? I can imagine the toxic waste which is used to make computers. Maybe the solution is living brain cells instead of processors (lol?)

What are your ideas?

#1) Our technological civilization can continue to expand and grow more efficient as long as there is negative entropy remaining in the universe to consume.  Our sun provides a 'sustainable' (for billions of years) energy source that we can tap, at this stage in our journey, and the amount of energy we are consuming as a species is a minute fraction of its production. 

Also proof of stake cryptocurrencies solve the problem of bitcoin burning lots of energy.

#2) Cryptos are working on decentralizing the web.  Ethereum, Maidsafe, Qora, etc.

#3) Anything that actually works is technically complex.  People with elite technical skills make it work first, and then as they improve it they gradually make it easier and easier for others to use.  In the future crypto will be easy for the masses, because companies will exist that make it easy for them.  Most people who use bitshares in the future wont even need to know it exists, it will simply be the backend for their financial trading systems.

[cylonmaker2053]

Mmmmm.  Did she have anything better in mind? 

good point...crypto may not solve all finance issues for all people, but what are the alternatives? each alt, incl. govt fiat, has pros, cons, risks, etc. i find that people are all too quick to boil every problem down to a binary set of options, when the reality is there are a continuum of diff options with variable characteristics and we should be looking to solution sets instead of single solutions.

[Ben Mason]

Mmmmm.  Did she have anything better in mind? 

Energy technologies are changing, crypto would help to break the energy monopolies and bring about an explosion in innovation.....
There are several promising projects attempting to decentralize the internet......
One does not need advanced mathematical knowledge to use crypto as a currency.  As long as there are thousands of developers that can review code distributed across the planet, the mathematics is irrelevant to the end user....

One step at a time.....secure transactions and therefore wealth, secure privacy, secure speech, increase truth, increase decent education, unlock innovation, increase efficient use of capital & resource, increase ownership of world assets/intellectual property, destroy monopolies, colonize space.

[cylonmaker2053]

your friend seems to be stuck on PoW for the energy issue...LTC, PPC, and gen 2.0 crypto currencies solved that problem. the world now knows we have an Internet centralization problem, so we're working on fixing that; just give it some time, but projects like MaidSAFE, satellite Internet, and mesh nets...maybe some combo of those or others we don't yet know about...should solve that problem. re: advanced math needed to use crypto, why? i'm not a cryptography expert, but i don't have much of a problem downloading a wallet and scanning a QR code. it'll just get easier as more entrepreneurs crowd into the space and dev new payment apps.

but in general, i tend to agree that crypto need not be the full money solution for humanity's future. i do think it'll be a significant part, but there's always room for alternatives. things get even more interesting when we have physical/paper crypto tokens or crypto debit cards, so transactions can look identical to what they are today, but the backend accounting taking place on a blockchain instead of an opaque central bank ledger.

[38PTSWarrior]

Interesting, especially the satellite thing.

By making only business with people who do good stuff, sustainability will become profitable.

[xeroc]

BTS is A LOT more sustainable than POW-based coins ..
Even through the internet may be held by some IPs which is centralized, they cannot easily prevent access to any blockchain.
Besides the internet, there are plenty of different way to broadcast the blockchain or transactions .. e.g. via satellite

[38PTSWarrior]

A hacker I met said that she is not in favour of crypto-currencies as the long-term solution to replace money for everyone because:

“it involves (1) computers, which in current setup of energy & raw materials needed for using & making them are not sustainable; (2) internet, which is centralized & comercialized & not "secure" as it is now...   and (3) advanced mathematical knowledge needed to use the "currency", which makes it elitistic“

Point 3: How can we bring bts to the uneducated non-elite people so they don*t suffer?

Point 2: The Keyhotee video shows how bytemaster wants to do it. And I think the decentralized internet is coming soon. Will it be non-commercial too?

Point 1: How long until sustainable? I can imagine the toxic waste which is used to make computers. Maybe the solution is living brain cells instead of processors (lol?)

What are your ideas?