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A global currency is big. A global economy is big. For citizens of poor and cut-off countries - it's huge. Which is why I think the SV has largely missed it. IC
by auganov 9y ago
A global currency is big. A global economy is big. For citizens of poor and cut-off countries - it's huge. Which is why I think the SV has largely missed it. ICOs are big with Eastern Europeans for the same reason hacking was (hint: it's not the criminality).
The 51% attack is largely a boogeyman. Cryptos have no intrinsic value - if the 51% attacker gets too blatant the underlying crypto is going to crash.
Sure, you can have an attacker that isn't super-greedy - it's okay. We put up with insignificant manipulations in our current financial systems already.
As for quantum computers (or the romantic version thereof), well, they're going to affect many many many many technologies. It'd be a nuclear event.
- matt_s 9y ago"For citizens of poor and cut-off countries - it's huge" Can you explain this? How is a citizen of a poor country that doesn't have a personal computer, probably not even a smart phone, going to be able to do anything with a global currency like a cryptocurrency?
- auganov 9y agoCitizens of poor countries, not necessarily very very poor people themselves[0]. Almost any country has a not-insignificant middle/upper-class that would love to compete on a level playing field with the world. Which is most obvious with Internet entrepreneurs living in countries without good access to the US/West. Hence the Eastern European example. [0] I do think you're underestimating smartphone ownership though