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I do like the idea of stablecoins collaterised by cryptocurrency like the Dai as a currency. But without the private-but-auditable properties that something lik
by jszymborski 6y ago
I do like the idea of stablecoins collaterised by cryptocurrency like the Dai as a currency. But without the private-but-auditable properties that something like Zcash has, it's a pretty dystopic future where everything from your morning bagel purchase to a visit to your preferred pharmacy are public knowledge.
I like ethereum a lot as well[0], but the complexity of the system which has led to hacks in the past[1] has me a bit wary.
[0] I've a very tiny bit of skin in the game, and the tech is very cool
[1] https://finance.yahoo.com/news/55m-hack-almost-brought-ethereum-124152546.html https://finance.yahoo.com/news/55m-hack-almost-brought-ether...
- fossuser 6y agoYeah - I think holding value in BTC and then converting to other stuff to do different things is likely a common use case. You can move BTC to Zcash and then have shielded transactions. The worst kind of outcome is what the CCP is building - a digital on chain currency to completely surveil their population's every financial transaction. There are some interesting things a government run digital currency can do though - expiring money stimulus (money that must be spent in a short time or somehow otherwise constrained). The ability to very quickly give money to people securely. Though obviously even with some of these interesting things, the CCP's currency is very bad for the privacy and freedom of their people - China is basically already in that dystopia.