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Analogies to bicycles or bank safes are silly. Crypto is putting something in a magic box with a sign on it that says "contents property of the first person to
by ballenf 8y ago
Analogies to bicycles or bank safes are silly.
Crypto is putting something in a magic box with a sign on it that says "contents property of the first person to utter the magic words". "Your" cryptocurrency is not yours. It's "owned by" the magic words, not you. You can assign new magic words, but you can never insert yourself between the crypto and magic words, until you cash out the crypto to some other form of currency.
- creeble 8y agoTrue crypto-libertarians would of course respond that once cashed out to "some other form of currency" it still isn't owned by you.