4 ms·
The problems with cryptocurrencies are precisely their lack of laws. Laws link the real world (a thing or action) to an intangible concept (a transaction or a
by ethbro 7y ago
The problems with cryptocurrencies are precisely their lack of laws.
Laws link the real world (a thing or action) to an intangible concept (a transaction or a contract).
Without a guarantee of that link (ultimately, via force), you're left with joke monopoly money.
And if you leverage the existing system to accomplish that link (e.g. via writing legally valid smart contracts), then you're again beholden to governments.
People don't use government-backed currency because they have to: they use it because it's useful and reliable.
- seibelj 7y agoBefore cars there were horses, before computers there was graph paper. The benefits of crypto are so clear that outlawing it makes no sense. I can’t explain this to you because you choose not to understand it so it’s not worth arguing.
- ethbro 7y agoNone of your words applied to what I said. You don't have to outlaw cryptocurrency to make it useless: all you have to do is deny its use of existing legal guarantees.
- ironic_comment 7y agoAll of you Cryptonites say the same thing... "you choose to not understand...it's not worth arguing" I say, there never has been an issue moving money around. This is purely a solution looking for a problem to solve. Good luck sapping the world's energy supply to enrich the Winklevii.
- sedeki 7y agoHow does the situation in Zimbabwe or Venezuela fit into your argument? Seriously.
- ethbro 7y agoI'd say that all governments and central banks are not equally competent.