Ethereum

U.S. Crypto Reserve finally announced but ETH didn't make the list. Make it make sense.

Even though Trump later stated BTC and ETH are part of the reserve, this is not bullish for crypto long term. The govt having a massive stash of crypto that they can sell off at anytime and decimate the market is BAD. This administration might not sell, but what about the next one? USA will likely flip from red back to blue after this admin. What then? Dems have no interest in crypto currently.

Hi, I’m Jack.🤷‍♂️ chronically unserious, cautiously cynical

Yeah the amount that people here don’t understand the effect of wealth centralization on system centralization is wild. It’s actually the thing we have the most real life evidence of.

writing stuff about tech + decentralization over on blog.thumbsup.me

I think this response speaks to the misunderstanding of the role of the real world, and its inseparable social fabric from the way all things, including finance, markets, and yes, crypto function.

You’re saying the system is not able to be controlled by those in power. Maybe that is true on an operational level. There is less plutocracy than would be necessary to say, reorg all the blocks. In any case, that kind of hostility would break the total functioning of the system and thus be net loss for anyone whose goal is wealth within that system. 

I’m speaking to the power one accrues socially and politically by having wealth and how that, socially and politically, shapes the system as well as the systems within which it symbiotically exists.

One thing people in crypto often refuse to address is that we don’t live in the matrix. We live in the world and social systems are the most important part. And inequality in these systems, creates the prerequisites for actual revolution. Not technological ones.

And as for centralisation, whaling is not necessarily centralising. Unlike any traditional finance, the richer in crypto is not necessarily the one that controls the system, if anyone controls it. And if it happens, we still have social forks. Crypto is not here to fix the fact we have riches and poors. Crypto's here to give everyone the same right to access finance and the same rules, whatever your wealth and goals. This is already a revolution.

This is literally worse than govt regulation on crypto IMO