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I respect your position that "going full-crypto-Monty" may cause a crypto currency to be rejected by a society that values some rules, like anti-money-launderin
by creeble 8y ago
I respect your position that "going full-crypto-Monty" may cause a crypto currency to be rejected by a society that values some rules, like anti-money-laundering.
But crypto currencies were borne out of a distrust for banks and government money policy, like inflation.
In my view, the fallacy was/is that by putting trust "in the network", these policies could be avoided, not duplicated. But that's impossible: crypto currencies merely shift trust to the network operators (who, for financial gain, become increasingly consolidated), and to the maintainers of the code, who ultimately determine the rules.
Maybe the point is that with a diversity of currencies, there is a diversity of policy choice. But that only increases the exchange problem, which defeats the purpose of a currency (that is, being widely accepted).
- epicwg 8y agoAside from playing with consensus algorithms to get the hash from GPUs rather than FPGA/ASIC, can you point me to innovative thinking in this area? Which projects (or, rather, their communities) are doing the most interesting stuff around achieving widespread distribution? I agree with you that this is essential for any crypto to truly become viable as money. If Bitcoin has won the store of value battle at least for now, then that leaves the medium of exchange game wide open and it won't be ABC/SV.