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I’m extremely bearish on Crypto, but I don’t think this is a fair criticism of it. If someone manages to break the crypto underpinning say, Bitcoin, then the cr
by ashtonkem 5y ago
I’m extremely bearish on Crypto, but I don’t think this is a fair criticism of it. If someone manages to break the crypto underpinning say, Bitcoin, then the crash in Bitcoin prices would be the least of our problems as a society.
The sudden, catastrophic collapse of all online commerce would probably be a bigger problem, as would the immediate halting of electronic interbank communication.
- xwolfi 5y agoI mean we survived before online commerce, I remember it vividly even. Can bitcoin survive without crypto ? There was even a time, believe it or not, where electricity didn't exist and people/society still kinda worked... When classical crypto is reverse (when, not if), then we'll simply have all our past secrets revealed. What you want is gradual increase in complexity so that the decyphered past only impact dead people. Crypto currency will ofc do that too, don't forget bitcoin can change everything, even its 21M limit, as long as the majority of the network follows.
- ashtonkem 5y agoThere is a big, big difference between “we survived before online commerce” and “you’re going back to a pre 1990s economy tomorrow”.