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> But also because crypto is totally unregulated -- and by the rules of the game, if you have the keys, you have the coins -- you have zero recourse. Just like
by natmaka 8y ago
> But also because crypto is totally unregulated -- and by the rules of the game, if you have the keys, you have the coins -- you have zero recourse.
Just like cash.
- arcticbull 8y agoThe difference is most of us have moved on from cash and don’t want to move back; this is a regression.
- natmaka 8y agoI don't propose to move back to cash. From a privacy standpoint classic dematerialized money (credit cards and such) are a major regression. A good cryptomoney offers all dematerialization benefits, and enforces privacy even better than cash.
- arcticbull 8y agoIt doesn't. With credit cards we get (included at no additional cost) 30-day loans, chargebacks, various forms of insurance and rewards for spending. None of those exist with any kinds of cryptomoney. Privacy isn't really improved with most forms of cryptomoney as you have not anonymity but pseudonymity of fully public information. Once you identify anyone (as any merchant or transaction recipient can) you can immediately access their entire transaction history all the way back to day 1. Any reasonably advanced government agency can build tools to crawl and deanonymize network participants too.