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Cryptocurrency involves numerous middle men, all of which charge very high fees. Miners, exchanges, smart contracts, they're all middlemen and they all charge f

• derangedHorse 5y ago
  Rather than the argument of having middle men vs not having middle men, I’d say that the transparency, accessibility, and hard-set consensus rules are what make something like the Bitcoin blockchain useful. It also allows privacy by means of the ability to generate key pairs and addresses easily and at-will. This combo of features mean that even with middlemen, there are certain rules that cannot be broken without the participation and knowledge of those who use the system. With banks, money can be secretly and arbitrarily transferred by individuals of power and in some cases even gate-kept from the initial depositors. With crypto I never have to worry about my money being falsely spent under the cryptographic security guarantees of something like Bitcoin. Even with > 51% attacks it would be practically impossible to rewrite significant portions of history and are mostly limited to reorganizing and deleting recent transactions.