> I would argue it is you who are falling for black-and-white thinking that all trust is bad and that currency should be trustless. I think our differences boi

> I would argue it is you who are falling for black-and-white thinking that all trust is bad and that currency should be trustless. I think our differences boil down to one thing: I don't share the belief than trust is better than trustless. Actually, I believe the opposite is true in most situations, because trustless allows abstractions in a simple manner. For handling exceptions (ex: ETH DAO), we can revert to trust mechanism, but most of the time, we're better off without. > > Actually, at the bare minimum, it removes political control of the monetary supply, leaving only fiscal policy, which may enable better long term control of public deficit by implementing a Milton Friedman like rule (whether it's constant inflation, deflation, or nothing, all is good as long as it remains constant and predictable) > I don't agree with any of that. I don't want any of that. Yet I don't think you are an economist, so I'm afraid your wants are biased. Most people don't want to wait - they want to break open the cookie jar. They want to eat the seed corn. It's a human bias, with an economic name: the time discount factor, which has been researched in how it leads to substandard outcomes (ex: not saving for your own retirement) At the society level, 401k and the like is a way of removing trust in your saving ability: the decision is taken for you in advance. Of course, there are exceptions (ex: you're out of work or sick and need the money now), but that's when the "exception" of trust comes in handy. > > To be clear I think all narcotics should be legal. It is the narcos who create the harm. I'm 100% pro dugs and 100% against allowing narcos to thrive. I 100% agree, but yet I think it's better for me not to have vodka and cocaine at home - because if I'm extremely tired but can't sleep, I could be tempted to take the former, then if I have to fly somewhere and it's important I'd be tempted to take the latter the morning after. So I don't buy any - another way of favoring a trustless system. If I want booze, I go to a bar as needed. Crypto can offers many features like that, and I believe a smart contract that would automatically save to your retirement account (while exactly equivalent to a 401k on paper) would be better, by sheer virtue of removing the needed trust in the government: I could see a government plundering retirement accounts in a grand announcement of a more redistributive retirement made available to everybody past some given age.