Much of this thread seems to be a case of blind leading the blind for the sake of hate.

The crypto community has more than its share of scams, memes, hype-driven projects, and speculations which give it a bad and unprofessional perception, but that’s just the surface.

Ethereum/cryptocurrency has the power for great change and is actually a pretty complex topic under the hood, the details of which most people will never need to understand, just like the Internet.

Time will tell I guess!

When the world economies collapse and the people are trading in hotdogs atleast I know who to blame… or thank ?

I couldn’t have said it better myself.

The only thing I’d add is that through the rise of the interent and email scammers hopped on the train to exploit the technology as much as they could. That doesn’t mean we shouldn’t use the Internet or that it’s inheritently bad, we just have to be aware of the possible dangers when using it.

The Internet had its neigh sayers but I’m sure noone here would disagree that it is overall a useful and beneficial tool.

Cheating is a catch all term and there are various factors that play into it. Ultimately its not in the interest of holders to even try and mess with the system because the only thing it would do is cost them money.

I am going to leave you with this article as it talks about some attack vectors and compares POW to POS, it explains it better than I can: https://vitalik.ca/general/2020/11/06/pos2020.html

It’s interesting how I am being down voted for relaying facts about the Ethereum blockchain, come on people you may not like what I am saying but what I’m saying is truth.

An investment for sure but how long could you hold on to them?

I think you need to read more about the technical aspects of how POW actually operates.

It has nothing to do with controlling value, a person who holds a large amount of that crypto can use it as a “stake” think collateral to operate as a consensus node, if they are caught cheating the stake is burned.

It’s in their interest to operate efficiently and fairly or lose there stake and overall network value.

Its built on Ethereum, each community will have a token that runs on the arbitrum L2. Ethereum is one of the most trusted chain in existence, and doesn’t burn the environment like Bitcoin.

Look at R/cryptocurrency MOONs which were the test bed for this, it’s been in the making for years.

As @schooner said ethereum uses POS which is environmentally friendly as it uses 99% less energy than the old POW mechanism.

Also yes the account could be blocked but the crypto wallet can’t be. As far as tracking goes nothing stops as user selling on am exchange amd then purchasing more from another. Tracking is effectively stopped at that point.

Correct it’s built on an L2 of ethereum.

Without going into the technicals too much L2s address the some of the scaling issues of ethereum making transactions cheap. Combined with the POS system ethereum now uses, its the best choice. Cheap fees and it doesn’t kill the environment.

The point of tokenisation is to create an ecosystem currency, it’s not for buying hotdogs with unless you’re using hotdog coin.

I do not disagree with much of the criticism Reddit is getting right now, especially the action taken leading up to this being the reason many of us are here right now.

What I will say though is that this community points system is not brand new and has been operating in the big crypto subs like R/cryptocurrency for some time using MOONS.

Now this system does not prevent the over arching power Reddit can exert on its platform but what it has done is meant is moderators are paid, well paid actually from the one I know personally. The value is determined by market forces so Reddit has little to no control over this.

Also because the points are tokens on the Ethereum ecosystem users can move there points to another wallet that is not controlled/created under the Reddit vault system meaning they can’t just be taken away.

Again, this move far from fixes many of the problems with Reddit, causing us to move to the feddiverse but as far as the idea of “points” go it’s actually the best system yet.

What makes me laugh is what Reddit did recently forcing users to spend or lose the last iteration of points, this is the kind of thing the new system should protect against.