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Blockchain provides the building blocks for a financial system that is independent of any legacy cruft - it's pure computation and math. Each feature added, suc

Blockchain provides the building blocks for a financial system that is independent of any legacy cruft - it's pure computation and math. Each feature added, such as stablecoins that always match $1 (google USDC), is another lego in the system that can be used by any other participant. Just as the dotcom boom crashed and wiped out many of the frauds, so too the crypto bust is removing a lot of the garbage from the industry. I'm very optimistic on the future, and you continue to see companies and governments engage with crypto because it's simply better, whether they want it to be or not. More efficient, less expensive, faster, less red tape. Many wish it would just disappear, but it doesn't because it continues to be useful, and spider out to ever more industries and use cases. It might take decade(s), but I work with individuals and companies that move tens of millions every day around the world without any bank interference. It's very clearly the future, the only question in my mind is how long it will take to overcome existing systems.

perl4ever 7y ago
"stablecoins that always match $1 (google USDC), is another lego in the system" That's not a building block coming out of crypto, it's the application of traditional finance to make it useful. And when you've solved all of the problems, the core technology ends up being pointless. But I'm convinced it will have an effect in the long run, because it will infect traditional banking and eventually in some unforseen way destabilize it. Just because it's so irrationally attractive.
- seibelj 7y ago
  I can't make heads or tails of anything you wrote.
- bitcoinbutter 7y ago
  Crypto is cash 2.0. It has many flaws, but it also does certain things cash can not. Some examples are high value transfers, long distance transfers, and easy accessibility across borders. You can go ahead and tell me this is only useful for criminals, but you'd be wrong.
lightedman 7y ago
"Blockchain provides the building blocks for a financial system that is independent of any legacy cruft " A technology that is almost 40+ years old, free of legacy cruft. That's absolutely hilarious.

perl4ever 7y ago

"stablecoins that always match $1 (google USDC), is another lego in the system" That's not a building block coming out of crypto, it's the application of traditional finance to make it useful. And when you've solved all of the problems, the core technology ends up being pointless. But I'm convinced it will have an effect in the long run, because it will infect traditional banking and eventually in some unforseen way destabilize it. Just because it's so irrationally attractive.

seibelj 7y ago
I can't make heads or tails of anything you wrote.
bitcoinbutter 7y ago
Crypto is cash 2.0. It has many flaws, but it also does certain things cash can not. Some examples are high value transfers, long distance transfers, and easy accessibility across borders. You can go ahead and tell me this is only useful for criminals, but you'd be wrong.

lightedman 7y ago

"Blockchain provides the building blocks for a financial system that is independent of any legacy cruft " A technology that is almost 40+ years old, free of legacy cruft. That's absolutely hilarious.