3 ms·
>It allows one to seamlessly and securely work across human trust boundaries That's not really true though. The "trust boundaries" still exist when you try to
by root_axis 9y ago
>It allows one to seamlessly and securely work across human trust boundaries
That's not really true though. The "trust boundaries" still exist when you try to convert your tokens into spendable money. Also, blockchain enthusiasts seem to forget that blockchain tokens are built on an intricate house-of-cards that can easily collapse under disaster circumstances. There is an implied trust that is always taken for granted that the government will continue to maintain internet infrastructure and allow citizens the free-use thereof. How far will bitcoin take you as a resident of puerto-rico? It is also trivial for any government to prohibit or disrupt the use of blockchain tokens (either through the legal system or through draconian internet restrictions). At the end of the day you are trusting that the federated financial systems of the world tolerate blockchain tokens.
- dorgo 9y agoMaybe that's the idea of crypto: that such powers don't belong into the hands of bureaucrats? Btw: everything can collapse under disaster circumstances. Why creating a startup if government can forbid startups tomorrow?
- root_axis 9y ago> that such powers don't belong into the hands of bureaucrats Blockchain tokens don't solve this problem; the power is defacto in their hands and you'll either need their consent or continued ignorance to participate in the wider economy using tokens.