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What's exploitative about a cryptocurrency?
by Andhurati 7y ago
What's exploitative about a cryptocurrency?
- inflatableDodo 7y agoAbout a cryptocurrency in general, nothing particularly that isn't also a property of money in general. Specific cryptocurrencies on the other hand, well, where do I start? We could be here all day.
- Ericson2314 7y agoIt's not a crypto currency in the p2p sense. It's federated, and the servers are run by the initial investors. It's world-Venmo. 1. All the interest from the reserve (which isn't all hard cash but also low risk securities) goes to the investors. No ability to create your own bank offer interest and compete. 2. Undercuts sovereignty. The HN crash may laugh but ask Yanis Varoufakis what it's like when you can't do your own monitary policy. Would you rather deal with the IMF or Facebook?
- inflatableDodo 7y ago>Would you rather deal with the IMF or Facebook? Now that is a genuine dilemma. I'd say the IMF, purely because there is enough historic data to use Bayesian inference to guide you in doing the opposite of what they advise. edit - Better the devil you know, in other words.