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Our society has turned into a competition between different organizations and communities to out-bribe and out-corrupt each other... I think it's a matter of ti
by cryptica 6y ago
Our society has turned into a competition between different organizations and communities to out-bribe and out-corrupt each other... I think it's a matter of time before all hell breaks loose.
This trustless, lawless environment is ideal for cryptocurrencies.
- 3131s 6y ago> This trustless, lawless environment is ideal for cryptocurrencies. Well, there's always rubber-hose cryptanalysis. Currency might just not be that feasible in a totally lawless society.
- cryptica 6y agoThat's one way in which crypto is different from every other asset. The ownership relies on cryptography, not law. Legal ownership is one of the a weakest forms of ownership. A step above that is physical ownership (e.g. gold stored in a secret vault). Cryptographic ownership is even stronger than physical ownership because nobody can take it away from you unless you tell them that you own the thing to begin with and then you willingly give them the passphrase or transfer the tokens.