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Having been in it from the beginning, I can tell you that it isn't crypto that is failing to "revolutionize how we transact" - it is the existing system both mo

Having been in it from the beginning, I can tell you that it isn't crypto that is failing to "revolutionize how we transact" - it is the existing system both moving at a slow pace and actively fighting the loss of control. The slow roll is understandable in one regard, but the delaying tactics are pretty transparent at this point. What is more frustrating are the instances of regulators killing exciting developments. I'd written Forex related software years before bitcoin, and I was very familiar with the way trading data is sold in tiers for stupid prices, so when I saw bitcoin exchanges dumping live - full order books through websockets... I was totally blown away. Then we started seeing really clever implementations of decentralized lending for margin accounts with market set interest rates... it was an amazing couple of years. Obviously such freedom is not to be tolerated, and what remains is a marginal improvement to the preexisting system.

cwillu 5y ago
How is that not "failing to revolutionize how we transact"? A promise of cryptocurrency was precisely that regulators and entrenched interests wouldn't be able to fight it effectively. Finding out that they in fact can do so, and that the result is only incremental/marginal improvements to the system, is a falsification of that premise.
- sennight 5y ago
  How? Well, you can start with the fact that it isn't over. If the objective had been to "revolutionize how we transact in less than 10 years" then you'd have a point. Now consider the reason why we're talking about delay instead of outright ban. States and institutions seem to know (in so far as large organizations are capable) that a crypto currency will inevitably be required in the somewhat near future, and a ban would be a massive strategic handicap. Hence the delaying tactics, like refusing to issue tax guidance for a ridiculous length of time.

cwillu 5y ago

How is that not "failing to revolutionize how we transact"? A promise of cryptocurrency was precisely that regulators and entrenched interests wouldn't be able to fight it effectively. Finding out that they in fact can do so, and that the result is only incremental/marginal improvements to the system, is a falsification of that premise.

sennight 5y ago
How? Well, you can start with the fact that it isn't over. If the objective had been to "revolutionize how we transact in less than 10 years" then you'd have a point. Now consider the reason why we're talking about delay instead of outright ban. States and institutions seem to know (in so far as large organizations are capable) that a crypto currency will inevitably be required in the somewhat near future, and a ban would be a massive strategic handicap. Hence the delaying tactics, like refusing to issue tax guidance for a ridiculous length of time.