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It's telling that the theoretical justifications the crypto folks use is mostly warmed over goldbuggery, and therefore concerns about the effects on society at
by Finnucane 7y ago
It's telling that the theoretical justifications the crypto folks use is mostly warmed over goldbuggery, and therefore concerns about the effects on society at large are discounted. The appeal is to people who have no fucks to give about society at large.
- jariel 7y agoMost people support crypto for its novel technology, societal antagonism, and it's ostensible 'freedom'. Possibly also it's Ponzi scheme appeal. But they tend to not have any grasp of currency, economics, finance and how things really work in this world. Yes, it would be nice to rid ourselves of Visa and possibly even get rid of the Fed, but at least in the later, there are existential issues at hand. Currency is a social contract it will always involve 'trust' of some kind. There is absolutely no way around that. There is no such thing as a 'trustless' currency or store of value. Digital currency has a bright future, and maybe someday we'll get rid of Vias fees, but outside of that, we're not getting away from central banks.