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This effort betrays a supreme misunderstanding about what makes Bitcoin important. "Blockchain technology" is not what makes Bitcoin revolutionary. Bitcoin is
by aazaa 7y ago
This effort betrays a supreme misunderstanding about what makes Bitcoin important.
"Blockchain technology" is not what makes Bitcoin revolutionary.
Bitcoin is censorship-resistant electronic cash. It's teleportable currency - without a deplatforming option.
That's the innovation.
What Sweden is engaging in is a cargo cult. Build the blockchain runway, hoping the planes will land. They won't because they have no reason to.
Censorship-resistant money is a direction no government will pursue voluntarily. The reason is simple: censorship of transactions will be demanded by a ruling class indent on "doing something" about drugs, terrorism, and rogue states. Some governments may be forced to follow the censorship-resistant direction by market forces, but that's probably far off from today.
- newguy1234 7y agoBitcoin is also valuable because the rules of the system are transparent. The rules of the system cannot easily be changed without a majority concensus. In regard to censorship resistance that becomes somewhat of a struggle because Bitcoin transactions aren't truly anonymous and now there are various companies working to deanonymize users. This means you can still be persecuted for your bitcoin activity. I've been shifting towards privacy coins like monero for this very reason.
- volgar1x 7y agoWhy is this getting downvoted?
- tjoff 7y agoBecause it isn't relevant and e-krona has nothing to do with bitcoin, certainly isn't trying to beat bitcoin. Neither is it trying to solve the same problems as bitcoin.
- newguy1234 7y agoSome people really don't like cryptocurrencies
- volgar1x 7y agoIs it just pure hatred ? There don't seem to be much arguing going on...
- bronipstid 7y agoMy theory is that the nerds on here who spend too much time in the financial fun house become imbibed with the ethos of it. It's really a sad end to a lot of idealistic young hackers who give up on changing the world in order to defend their fancy new stock portfolios. The joke is ultimately on them however, as everyone who trusts wall street eventually gets taken to the cleaners.
- rvense 7y agoThey are not building it to be censorship-resistant. They are building it to be a public alternative to commercial digital payment services.
- volgar1x 7y agoThat's actually his whole point!