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endhits ,

Crypto itself isn’t an issue. My view has always been that it wasn’t meant to be an investment, but a currency. The issues are the grifters and loons that promote this as an investment.

bitsplease ,

And incidentally, the rampant speculation around them has rendered them mostly worthless as a currency due to the high fluctuations in price

febra ,

The most obnoxious people I’ve ever met were all conspiracy loonie right wing crypto bros

Kit ,

This is surprising to me tbh. I always assumed crypto bros were left leaning.

hark ,
@hark@lemmy.world avatar

Crypto bros are likely overwhelmingly libertarian since a lot of crypto bro mentality gels with that ideology, particularly that it makes currency decentralized and more controlled by private entities. Cryptocurrencies as a whole will have various aspects that may appeal to other groups, however. Like yeah, it’d be great if we could reduce the power that banks have over us, but cryptocurrency often devolves into whoever has the most coins controls everything, critically with proof of stake systems. I’m convinced that bitcoin is only as valued now because rich people (who got their riches outside of bitcoin) have controlled it and are playing games with it.

SquishMallow ,

I would it expect to be bi-partisan. What reasons do we have for crypto? Security, faster transaction time, independent of government (more of a global currency), taxes too high, transparency, etc.

realharo , (edited )

Let’s be real, the only reason why the vast majority of people are in it is wanting to get rich by selling it at a higher price to someone in the future.

The term currency is kinda misleading, it’s really more like a commodity whose only purpose is price speculation on exchanges.

Amir ,
@Amir@lemmy.ml avatar

Faster transaction times? Do we really need that, and is that actually the case? I thought bitcoin could have transaction times of double digit minutes, while normal banking transactions here in Europe take 2 seconds

SquishMallow ,

Bitcoin is not the only currency. I’m not saying faster transactions are active, but that is a goal for some currencies no? Wasn’t aware if that first Europe. What about settle time then? That is, time it takes to verify a major transaction is legit?

Honytawk ,

The only people currently using crypto do so in order to get rich.

Don’t see many left leaning people worshipping money and throwing everyone they can under the bus in order to make capital.

alienanimals ,

This article was written by a centralized bank that received huge tax payer bailouts in 2008 because their executives were too busy fucking over the average American.

Fades ,

Sounds like nothing’s changed

idunnololz ,
@idunnololz@lemmy.world avatar

Well something did change. It is no longer 2008.

shortwavesurfer ,

And banks are no longer required to hold your money. Thank god.

Lucidlethargy ,

People who invest in bitcoin aren’t much better.

ZombieTheZombieCat ,

Obligatory fuck psypost. The most click bait, sensationalized headlines for small sample correlational studies that almost always have a divisive basis, like “democrats are better at x than republicans,” or “men are better at x than women” or some shit. I got so sick of seeing it on the front page of reddit every single day because there were ten different subs reposting the same articles.

shortwavesurfer ,

Not super shocking. The circles i see lean quite libertarian to anarchist and they love crypto, gold, and silver because “fuck the government”. I find myself mostly in agreement as i think the governmyth attracts psychos who get off on telling others how to live their lives. If we stopped using their money they could not afford to fund more wars and i would be willing to go out on a limb and say that state government is as big as it should get. With clauses that anyone can enter or leave their jurisdiction at any time for any reason at all or no reason.

aodhsishaj ,

Anarchists are by definition not conservative

ComradeKhoumrag , (edited )
@ComradeKhoumrag@infosec.pub avatar

I would consider cypher punk crypto anarchy the first left libertarian form of governance (edit: that could function on a global scale), an interesting hybrid of communism and capitalism.

Communism today is incompatible with democracy, it needs authoritarianism to have the level of control needed to redistribute all resources.

Right authoritarianism creates social hierarchies

Right libertarianism tries to be decentralized but just recreates feudalism

Left libertarianism is typically impractical. If the government doesn’t have authority to tax, how can you redistribute wealth? If the government doesn’t have weapons, how can it tax? If the social organization is decentralized, how do you maintain cohesion? If anarchy is rules without rules, how do you create rules without rulers?

Blockchain solves some of these problems. Maintaining an identity system is the main hurdle. In a crypto currency like Bitcoin, your private keys which prove ownership of money is your identity. But if it was just your computer was your identity, people could just spin up multiple computers and vote 10 times.

So unfortunately, the “rules of governance” are limited to network rules about the Blockchain. If you can implement a decentralized ID, you can securely automate parts of the government that have to do with things like voting or proposing policy.

wtfeweguys ,

Most informed comment ITT. Thank you for sharing it.

supert ,

Left libertarian has a long tradition. Otherwise I somewhat agree.

Sethayy ,

Idk feels a bit like propaganda to me, crypto is the closest to a socialist currency you can get; instead of one or 2 super banks controlling all the money its divided throughout the people.

but then again this study has no (and obviously couldn’t easily) bias control for such a factor

Lucidlethargy ,

Crypto is a pyramid scheme. It’s not currency.

Sethayy ,

Anything under capitalism is a pyramid scheme, its just most noticeable when its more sharp of a pyramid

uriel238 ,
@uriel238@lemmy.blahaj.zone avatar

To be fair, the currency is a collectively managed element. But currency trading is prospective investing, id est majorly doing a capitalism which is quite conservatve.

If we just bought stuff with crypto and tried to stabilize prices that would be a public-service driven effort, ergo socialist

realitista ,

That explains a lot actually.

Companion1666 ,

FFS, make SHIB’s value to $0.01!

trash80 ,

Then, researchers compared the alignment of crypto enthusiasts with what are known as “binding moral foundations” (Authority, Purity, and Loyalty) – typically associated with political conservatives – to “individualizing foundations” (Fairness and Care) which are often linked to liberals.

IMHO, that is a really strange set of “moral foundations”.

WhatAmLemmy ,

Yeah… Almost like those “moral foundations” are what you would expect of the third reich.

Probably just a coincidence, though.

trash80 ,

I don’t see how cryptocurrency exemplifies loyalty or authority.

realitista ,

But does it really surprise you? Sounds spot on to me.

trash80 ,

Yes. I think people like bitcoin because it is decentralized. There aren’t banks or government that control the currency. There is no authority. I don’t see anything unfair about it. On top of that, I don’t understand how loyalty, care, or purity relate to bitcoin or any other cryptocurrency.

realitista ,

It’s related because according to the study, those are the core beliefs of the people who like crypto.

trash80 ,

The purpose of the study was not to determine the core beliefs of the people who like crypto, it was to compare how crypto enthusiasts aligned with selected moral foundations.

realitista ,

Okay fair enough, it’s a better description but I think a bit splitting hairs.

trash80 ,

I think a bit splitting hairs

Maybe so. I wonder if there is some sort of class I can take that would help me to not do that.

wtfeweguys ,

Not sure who they surveyed. Sure as hell didn’t ask me.

TenderfootGungi ,

Sounds correct to me.

treadful ,
@treadful@lemmy.zip avatar

Our analyses of a large set of Bitcoin tweets and a controlled survey indicate that binding moral foundations (Authority, Purity, and Loyalty) that are more closely associated with political conservatives better reflect one’s interest in cryptocurrency than individualizing foundations (Fairness and Care).”

So it’s sentiment analysis of a specific community (Bitcoin). The Bitcoin community has been more libertarian and toxic than others, in my experience. But I wouldn’t ascribe those attributes to the wider crypto community.

meh

joel_feila ,
@joel_feila@lemmy.world avatar

That sounds like “the righteous mind” bs. It included purity as a core value.

Cethin ,

It’s basically properties of fascism vs egalitarianism. They’re not pulling them from nothing.

Gradually_Adjusting ,
@Gradually_Adjusting@lemmy.world avatar

DeFi was supposed to be a rad lefty thing in its conception. Conservatives can truly ruin anything.

BigBlackCockroach ,
@BigBlackCockroach@lemmy.world avatar

reverse midas-touch 🤣

captainlezbian ,

Everything they touch turns to the gold standard

InvertedParallax ,

Rad-lefty?

Rich people can hoard their money without the government?

How much further right can you get?

Gradually_Adjusting ,
@Gradually_Adjusting@lemmy.world avatar

That’s a very small frame you’re prompting me to respond within. Fiat currency is a big complex issue and every attempt to subvert it is also necessarily complex

InvertedParallax ,

Yes, but rich people have, at the end of the day, been at the mercy of the state for currency and protection, and the state can shift left and right.

Once they are free from the state for currency, there is only protection left, and they can buy that, with their currency.

I’m on crypto because I see which way the wind is blowing, and it’s blowing away from anyone with less than $50m by the end of the decade.

yata ,

It was never a “lefty thing”. It was a right wing libertarian thing from its inception, and that hasn’t changed at all.

StalksEveryone ,
@StalksEveryone@futurology.today avatar

i thought i was getting my bumps from mexico wtf mccarthy

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