Earlier quoted context omitted.
It's worth noting that there is a core of people doing real work in crypto who are not trying to peddle NFTs or other sleight of hand rungpulls designed to separate the gullible from their money. Ethereum, for example, is full of people building interesting things like off-chain low-cost trading using non-interactive zero knowledge proofs and actively working to make crypto less energy intensive and more useful. They…
> There are plenty of examples of people doing this important work because they legitimately believe that a world where fiat control is divorced from the levers of governmental power is a positive change. Regardless of their intentions this is a bad idea and deserves every line of criticism it receives. Governance, law, and financial regulation exist for reasons that programmers have no place or reason to replace. We…
That's a fair criticism, even if I don't agree with it. I don't think it's possible to imagine a world where consensus is shared widely enough that 'mutually assured destruction' of the financial network prevents transaction censorship, particularly when zero knowledge based networks allow validation of network transactions without knowledge of who is transacting, what transaction is taking place, or when it might occur.
>Governance, law, and financial regulation exist for reasons that programmers have no place or reason to replace.
I don't think anyone is suggesting that governance, law, or financial regulation should go away. Those things seem important. The governments of the world can enforce those things like they always have. They just lose the ability to manufacture more money when it's time to fight a new war or pay off one special interest or another (but only if most of the people participating in that society buy into the idea that the government is not a good steward of that power)
Imagine a world where the people ruled by a government have some say in whether they're doing a good job with monetary policy or not. I certainly don't have that today - I get to punch the 'RED GUY' or 'BLUE GUY' button on my voting ticket but neither of them are particularly interested in changing something that fundamental.