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With human nature people will take advantage of others who won't or can't know better and get excited by and react to hype. I think it's society's responsibilit
by loceng 9y ago
With human nature people will take advantage of others who won't or can't know better and get excited by and react to hype. I think it's society's responsibility to prevent people from scamming others out of money - which is generally what stable economies do. I'm not saying blockchain doesn't have a great potential in utility, just not structured with how the popular ones (Bitcoin, Ethereum's Ether) have been incentivized - a stable crypto-asset would allow for utility without unreasonable or insane wealth transfer from occurring.
- novalis78 9y agoAbsolutely agree. But society has to ways of making sure that there will be a minimum of fraud: let unelected regulators do the job or have a broad range of third party services/companies internationally issue advisories and reviews/audits. The answer to this of course is political/philosophical and crypto in general follows a philosophy of having the market i.e. Private solutions figure it out. That's especially more feasible as it's a global phenomenon.