Is JSECoin the Enemy of All Things Crypto?
JSEcoin: Enemy to Crypto?
I hoped it would, but its not going to go anywhere. I tried to convince the staff that they need to be decentralized. In no way are they decentralized, which means they will be rejected by the crypto community at large and the only people that will accept them on their sites are so poor that they are desperate for any financial gain, no matter how small. I'm very sad about this, because I saw great potential in JSEcoin at first.
I love the idea of webmaster mining and look forward to the idea of web surfing mining as well. However, JSEcoin is not decentralized, and this will kill it. The staff just don't realize that their ideals don't mesh well with blockchain technology. Privatized/centralized blockchains serve literally no purpose, databases are better.
Many companies are trying to figure out how they can utilize blockchain technologies in a private, centralized way but its completely nonsensical. Blockchains only do one thing well, immutability, and this is only true for public blockchains.
Immutability and decentralization is the value add that blockchain provides to the world. The JSE staff can ban you from the platform, locking you out of your own on-chain wallet. They can require you to transfer no more than 2000 coins to the decentralized Ethereum platform and to be able to do more you must obtain administrative permission. Even the mining reward payout can be adjusted by them.
Let's say they wanted to make huge changes to the protocol. You can't stop them, they will make JSEcoin whatever they want and if you challenge this new ethos they develop you can simply be banned from your wallet. This means they can censor anyone at any time for any reason they so choose.
They have made themselves the law, the government and the authority. None of this is consistent with the cryptocurrency and blockchain ethos. They are the old world trying to regain some of the new world and bring people back into traditional banking, a system designed to enforce dependence and subordination.
I'm not out to hurt anyone hodling that JSEcoin, but this is bigger than that. As a community, we need to stand against centralized forces trying to ruin everything crypto represents. Its not fine for all cryptocurrencies to survive, they need to be ethical. Its unethical to claim to be a blockchain, which carries the meaning of a publically owned and operated network, when you're not.
Now, I want to make one thing clear, I'm not giving anyone financial advice here and, I'm not telling anyone to not use JSEcoin. What I am saying is that I would deeply understand if you had the great wisdom to see the terrible results that can occur by supporting centralized, corporation owned databases calling themselves public blockchains.
I can appreciate your intelligence to perceive the horrible ramifications that ensue from endorsing privately controlled wallets to so called "blockchains" intended for the public. And if you think that such practices are disgusting, villainous and dastardly, well, I find myself compelled to agree with you.
While I do not seek to insult any group or organization, I find myself admiring the brilliant souls that comprehend the evils of corporations and banks masquerading around as blockchains, a word that denotes a network freely accessible to the global public as a human right.
Who are you, who are so wise in the ways of science to fully grasp the necessity of pushing these secretly controlled "blockchains" out of the cryptocurrency space? I honor you, good sirs and madams...
Lastly, I wish to state that I would much more prefer that JSEcoin took the path of decentralization, in which I would speak positively of their project every chance I got. I love the original idea behind JSE, but the platform as it stands is unacceptable. We need a completely decentralized wallet with no login required and desktop/web mining should be completely out of the control of the staff as well. Anything less renders the coin useless...