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There is immense value in disrupting and supplanting the global monetary hegemony. Credit card Payment processing amounts to a 3% tax on a majority of transact
by gnarbarian 6y ago
There is immense value in disrupting and supplanting the global monetary hegemony. Credit card Payment processing amounts to a 3% tax on a majority of transactions. These companies also are increasingly imposing moral judgements on who should be allowed to transact. With little recourse available to the affected. (The blacklisting of Patreon alternative New project 2, and pornhub) are examples of this. Liberating payments online to the same level we have with exchanging cash is definitely desirable.
In general, crypto technology is valuable for it's ability to replace capricious monopolies with distributed implementations built on federated protocols run like a constitutional democracy.
We can of course expect established monopolies and governments to retaliate in every way possible in an attempt to maintain power.
- x87678r 6y ago> Credit card Payment processing amounts to a 3% tax on a majority of transactions Only in America. Most other countries have this under control. > In general, crypto technology is valuable for it's ability to replace capricious monopolies with distributed implementations built on federated protocols run like a constitutional democracy. No, in general crypto technology is valuable because it can avoid laws created by constitutional democracies. Its a back door for money launderers and illegal payments. > We can of course expect established monopolies and governments to retaliate in every way possible in an attempt to maintain power. Exactly we voted for this government to enforce some rules, if cryptos are a way to avoid the rules, it will be made illegal.
- gnarbarian 6y ago>No, in general crypto technology is valuable because it can avoid laws created by constitutional democracies. Its a back door for money launderers and illegal payments. It's also valuable for that, but I argue it has greater value in legal transactions that currently must operate through said gatekeepers who impose extralegal restrictions.
- MadSudaca 6y agoMost other countries? Where do you get that information from? Also maybe it’ll be made illegal in some countries, but if others work as fertile grounds for crypto, they will leak into all others eventually. Specially if their advantages are too good to pass.