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Money over IP is quite impressive. Something ideological must be clouding your judgement if you can't see it.
by amasad 8y ago
Money over IP is quite impressive. Something ideological must be clouding your judgement if you can't see it.
- SiempreViernes 8y agoI don't understand what you mean, are you saying normal electronic bank transfers actually involve someone moving a bag of coins from my bank to Ireland?
- amasad 8y agoI mean an internet-native money is something groundbreaking. The kind of thing that your average forum troll will off handedly dismiss.
- omeid2 8y ago"Money over IP", so like Credit Card? PayPal? and many other money services?
- VMG 8y agoThe companies you mention are only money services to politically aligned customers.
- amasad 8y agoNope. I mean money as in actual wealth. As in a store of value money.
- Vrpe 8y agoYou mean value that fluctuates "randomly" on the daily in what was proven to be a manipulated market? A market plagued by corrupt, insecure or amateur on-ramps like Quadriga, Bitfinex or MtGox? Anonymity goes out the door as soon as you get verified on one of these on and off ramps. You cannot have a store of value if the only value that is created is a speculative agreement. The same critique that went behind fiat currency no longer being backed by gold applies just the same to cryptocurrencies. Turnkey solutions like stablecoins essentially mean you are now forced into using them as a pseudo bank and counting on them to not be handling fractional reserves at any point in time. Crypto can have its uses in time, but it is not the emperor's new financial panacea that many people hope it is. Regardless, the project is pretty cool and so is its execution.