this post was submitted on 05 Jan 2022
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cryptocurrency
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The original idea of crypto-currencies was they anyone could participate in the infrastructure. Proof of Work allowed this for many years on pretty standard PCs. Yes today there are the huge mining pools, but that is still better then an oligarchic system of who got in the earliest and was best at manipulating the system since then aka Proof of Stake (which is ironically exactly how normal money in capitalist society works).
Maybe it worked for a little while, but it clearly doesn't anymore, and there is no real solution to make POW and co. sustainable, either environmentally or in terms of control of the infrastructure.
Then again, POS gave us NFTs and shit like that.
Basically, trying to improve cryptos is trying to polish a turd either way.