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Most people support crypto for its novel technology, societal antagonism, and it's ostensible 'freedom'. Possibly also it's Ponzi scheme appeal. But they tend
by jariel 7y ago
Most 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.