4 ms·
Governments don't exactly bat 1000 on all laws being just. Crime is not a-priori evil. But even outside that use case, crypto-assets are a perfectly reasonable
by lukifer 6y ago
Governments don't exactly bat 1000 on all laws being just. Crime is not a-priori evil.
But even outside that use case, crypto-assets are a perfectly reasonable hedge as a store-of-value; there's a case that an asset guarded with provable math represents a superior Schelling Focus [0] to "Full Faith and Credit of $NATION_STATE". And you can theoretically embed smart-contracts, pool resources reliably with m-of-n contracts, etc.
I'm happy to concede that these non-speculative use cases are relatively rare, and nowhere near justifying the valuation of BTC et al, let alone the ecological footprint (I legit think that PoW mining should be severely taxed, if not banned). Still, that value may be low, but it's not zero. I don't own a lot of crypto, but I consider it a reasonable inclusion in an asset portfolio: essentially shares of stock in a distributed free banking [1] experiment.
[0] https://en.wikipedia.org/wiki/Focal_point_(game_theory) https://en.wikipedia.org/wiki/Focal_point_(game_theory)
[1] https://en.wikipedia.org/wiki/Free_banking https://en.wikipedia.org/wiki/Free_banking