5 ms·

But you miss my point. There is no choice. If you are bound by a legal system, crypto doesn't get you out of that. There are situations, as you say, where cr

by jayd16 5y ago

But you miss my point. There is no choice. If you are bound by a legal system, crypto doesn't get you out of that. There are situations, as you say, where crypto might be better than the existing legal void but that is the vast minority.

noxer 5y ago
But I do already have a choice. Ive been trading both on traditional exchanges and on a DEX since a few years. I choose depending on availability of the assets ofc as not all assets can be traded on both systems (yet) but I'm defensively not bound by any legal system when I choose the DEX. Its not just technically impossible to reverse a trade its also legally impossible. I have no clue from whom I bough or to whom I sold something and it may as well have been multiple parties for a single trade. There is no way to sue or get sued or revert anything. >... but that is the vast minority. How would you know? I just made 3 examples above that came to my mind who all bring clear benefits and 2 of them are not even legal voids. Lotteries/betting/trading are very well regulated but why would you choose to use a system thats objectively worse (cost of the third party) if you can have it without. I gain nothing from the fact that I could theoretically sue some big trading or betting corp. All I want is the system to be fair and cheap. I have no intention to sue anyone if I f**up and the fact that someone could sue me because his loses are my profit is quite frankly very scary. Who would want that. Or imagine you bet against someone and you win, but then you get nothing because it turns out the other parties played with money they dont actually have. I surely prefer a system where I get what I won and if the other party didn't have the legal right to lose that money the legal system can deal with the parties who stole it I want nothing to do with that.

by jayd16 5y ago

noxer 5y ago

But I do already have a choice. Ive been trading both on traditional exchanges and on a DEX since a few years. I choose depending on availability of the assets ofc as not all assets can be traded on both systems (yet) but I'm defensively not bound by any legal system when I choose the DEX. Its not just technically impossible to reverse a trade its also legally impossible. I have no clue from whom I bough or to whom I sold something and it may as well have been multiple parties for a single trade. There is no way to sue or get sued or revert anything. >... but that is the vast minority. How would you know? I just made 3 examples above that came to my mind who all bring clear benefits and 2 of them are not even legal voids. Lotteries/betting/trading are very well regulated but why would you choose to use a system thats objectively worse (cost of the third party) if you can have it without. I gain nothing from the fact that I could theoretically sue some big trading or betting corp. All I want is the system to be fair and cheap. I have no intention to sue anyone if I f**up and the fact that someone could sue me because his loses are my profit is quite frankly very scary. Who would want that. Or imagine you bet against someone and you win, but then you get nothing because it turns out the other parties played with money they dont actually have. I surely prefer a system where I get what I won and if the other party didn't have the legal right to lose that money the legal system can deal with the parties who stole it I want nothing to do with that.