121–130 of 839 posts
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Good question. Definitely yes. Why would I pay middlemen (banks) when there is no need to? Also why would I trust them, when there is no need to?
> Also why would I trust them, when there is no need to? Because your alternative is to trust the crypto infrastructure, which is far less trustworthy.
actually banks have failed in the past, this infrastructure not yet
This gets asked often, but in case something changed recently - what are the use cases of cryptocurrencies that are not: - Attempts to side-step the law (however misguided the law is) - Trivial to do using a typical centralized database (e.g. Federal Reserver or VISA) - Tantamount to waiting for a greater fool to buy out the current players I am not looking for answers of the form "well whenever you want to avoid a t…
Banks are highly regulated and risk averse. They won’t transfer 100 USD to some country when it takes them more than some percentage of the transfer to do compliance for it. So the transfer is legal but banks can not do it compliant and efficient. I know of Ukrainian developers being paid in ETH for that reason. Adult cam models in some countries are another example.
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The anarchist in me wants to believe that cryptocurrency will diminish the power of the state but I don't actually have enough faith in humanity that we will come up with something better than crypto-oligarchy.
The story of cryptocurrency over the past couple years has been a really interesting case-study in the application of Libertarian principals. It's interesting how something which was built on the idea of decentralization by design has given way to a clear power structure, where those who have the sway to control the fate of the technology have largely used it to pursue their own personal enrichment over the health an…
You say this like it's a fact but I feel like it's the opposite. There aren't many compelling examples of this. And to the extent that there are, they exist in a competitive market and their fate is determined by users and investors, who weigh the cost of the greed vs the benefit of the technology and reward/penalize accordingly.
I have long wondered how cryptocurrency fans would answer the question: ‘Would you be happy if the crypto-utopia you bring up happens in the next 10 years, and all value is stored/transacted through a cryptocurrency, but it was a coin that you do not possess now, nor could you transfer any of you current currencies into it?’ Say tomorrow someone releases the one true coin, but no one notices. All other cryptocurrenci…
The anarchist in me wants to believe that cryptocurrency will diminish the power of the state but I don't actually have enough faith in humanity that we will come up with something better than crypto-oligarchy.
I have long wondered how cryptocurrency fans would answer the question: ‘Would you be happy if the crypto-utopia you bring up happens in the next 10 years, and all value is stored/transacted through a cryptocurrency, but it was a coin that you do not possess now, nor could you transfer any of you current currencies into it?’ Say tomorrow someone releases the one true coin, but no one notices. All other cryptocurrenci…
I guess I put too much faith in law enforcement.
I was just thinking on my way to work this morning about crypto - it was so much fun riding the thrill late 2017, excluding the tech, it was an exciting time for many. I crave another crypto boom
I was in the thick of it and frankly I found it to be pretty cringeworthy to see so many armchair "investment experts" coming out of the woodwork.
I'm no expert on blockchain, but crypto taught me very very very powerful and insightful investing lessons.
I have long wondered how cryptocurrency fans would answer the question: ‘Would you be happy if the crypto-utopia you bring up happens in the next 10 years, and all value is stored/transacted through a cryptocurrency, but it was a coin that you do not possess now, nor could you transfer any of you current currencies into it?’ Say tomorrow someone releases the one true coin, but no one notices. All other cryptocurrenci…
This is what traditionally legal system with the power of violence used to deal with before. Now we see it implemented as a code. This part is more exciting to me than trying to sidestep whatever misguided government (not just US) rules and actions are.
EDIT: Perhaps proof of work based on burning energy, which is expensive and tends to bring centralized parties, is not the best way to ensure rules are enforced, but the fact the whole thing is open source is great in my opinion.
Earlier quoted context omitted.
The story of cryptocurrency over the past couple years has been a really interesting case-study in the application of Libertarian principals. It's interesting how something which was built on the idea of decentralization by design has given way to a clear power structure, where those who have the sway to control the fate of the technology have largely used it to pursue their own personal enrichment over the health an…
> It's interesting how something which was built on the idea of decentralization by design has given way to a clear power structure, where those who have the sway to control the fate of the technology have largely used it to pursue their own personal enrichment over the health and success of the system as a whole. Care to elaborate? Some examples?