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The problem is if they were implemented with regulatory instruments and whatnot, they would share their critical weakness. If tomorrow China says 'we know your
by otakucode 8y ago
The problem is if they were implemented with regulatory instruments and whatnot, they would share their critical weakness. If tomorrow China says 'we know your banking computer systems are insecure and have no integrity. We do not trust that the numbers on them represent anything', the US economy is over. They can't prove that Walmarts net worth came from trade rather than from some malware or error or some other fraud. That would leave cryptocurrency being the only thing that can actually be proven to be real.
Basing your currency on trust is great... until the trust is gone. And trust can disappear with a glance.