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Not one of them has made a compelling case as to its value. Say you want to buy something from a Chinese supplier and you are in the Americas. They get the mon
by rokhayakebe 9y ago
Not one of them has made a compelling case as to its value.
Say you want to buy something from a Chinese supplier and you are in the Americas. They get the money in minutes and the process of sending them the funds is as easy as sending an email. If crypto was used solely for this purpose it would be incredible value. I know this because when I wire money internationally we are all in suspense for days.
- ellius 9y agoIs there a reason you couldn’t build that without resorting to a cryptocurrency? Couldn’t you build central clearing backed by reserves of fiat currencies? It could be built on a blockchain, but I’m not sure why a cryptocurrency needs to be involved.
- sp527 9y agoThe point is to illegally skirt regulations and obfuscate transactions. Many crypto believers are quite forthright about their anarchist bent. Even a cursory attempt at second-order thinking might be enough to disabuse a reasonably intelligent person of such delusions. There’s also a funny tautology to be had here: when you design something to achieve anarchy... you get anarchy. But really who gives a shit when you’re swimming in piles of cash? I certainly wouldn’t. And then again, once they reset to equilibrium and emerge from the stupor, they might feel more bad about what they wrought than the money feels good.