• 36 Posts
  • 1.4K Comments
Joined 2 years ago
cake
Cake day: June 11th, 2023

help-circle
  • Disclaimer: Not an expert on this.

    It was previously not really possible to send money digitally directly, except in the form of cyptocurrency. It always goes through banks or intermediaries. If you transfer money between bank accounts, the banks have to talk to each other to do so, and the “real” transfer happens between their central bank accounts at a later point in time. There is indeed only spreadsheets with numbers going up and down. Effectively the banks are in control of all of it. In most cases we don’t want a slow bank transfer but some sort of user-friendly payment portal like PayPal or wero, which the banks also need to have contracts with (or, operate themselves).

    My vague understanding here is that this process is completely detached from banks, and that you are thus transferring actual money. It’s not just numbers in a spreadsheet going up and down.

    If anybody understands it better please correct anything I got wrong.







  • You’re not wrong but that’s not quite decentralization, that’s just not building a walled garden, but retaining the power to put up walls at any point. If most users are on BlueSky, then BlueSky retains the power. If they decide to end support of AT or to extend (break) it, they keep their user base while everything else is left in the dust.

    This is why people are saying not to create an account on mastoson.social - it’s getting too big. And mastodon.social is run by a non-profit, whereas BlueSky is a for-profit company. True decentralization and federation are against their interests.







  • “Wait I remember borrowing that to somebody, but who was it again?” - it’s gone

    “I swear I saw it yesterday” - search as long as you want, you will find it by accident mere moments after you no longer need it

    “I remember I put that in a specific place for safekeeping” - will resurface when you move