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> The crypto world is running out of safe havens. So just to be clear, your definition of "safe haven" is, what, total lawlessness with no governmental oversig
by CarelessExpert 5y ago
> The crypto world is running out of safe havens.
So just to be clear, your definition of "safe haven" is, what, total lawlessness with no governmental oversight?
Frankly, these moves make me think people are taking crypto seriously now, as we're finally treating it like real money or the banking sector and regulating it accordingly. If anything, it seems to me that should be a sign of success, not failure.
(and I should point out I own no crypto and I think blockchains are the biggest technical snake oil grift I've seen in the history of computing)
- secondaryacct 5y agoBut since it provides no advantage over normal currency, except lack of regulation, regulating crypto removes the incentive to onboard on it anyway. It's slower, it expensive to run, fees are very flexible, value depends only on speculation and electricity spending - it would be a success if crypto trends towards 0 and we can finally try to USE them, but again, it would most likely be suboptimal compared to a banknote.
- swiley 5y agoLack of regulation wasn’t ever even the primary advantage. That you don’t have to depend on a single payment handler is what makes crypto interesting.