3 ms·

You need trusted authorities anyway. Anyone may show at your home and steal your crypto currency at gun point, you may pay for items that are not delivered, you

You need trusted authorities anyway. Anyone may show at your home and steal your crypto currency at gun point, you may pay for items that are not delivered, your employer may not pay you. Authorities and the rule of law are fully needed for any functional society. Crypto currencies as an anarchist dream are impossible as a very complex society is needed to produce them, and that society requires to be functional. If someone wants anarchism they should simplify and use gold or some other easier to carry and exchange.

koolba 5y ago
> Anyone may show at your home and steal your crypto currency at gun point, you may pay for items that are not delivered, your employer may not pay you. Authorities and the rule of law are fully needed for any functional society. In a crypto anarchist’s dream world, the employee’s income claimable token could be resold, purchased by a loan shark, and the loan shark could provide another permission-less contract where anybody can upload a picture of the employer’s knees being broken, likely verified on chain by some other pain oracle.
Vetch 5y ago
In my experience, your described state of affairs is common in poor economies. Robberies and kidnapping ransoms are relatively frequent. Shootings are rare but still way too frequent. Workers often go unpaid and it's not unusual for wages to total less than transportation costs. Landlords are known to have poor memories about paid rent and it's not uncommon for deliveries to be stolen and containers disappear. There's a real risk of valuable goods ordered internationally "disappearing" in customs. The countervailing factors are, the poor are mostly ignored (except for kidnappings of large groups of children) while the rich can afford private security at an equilibrium price point where betrayal is not rational. Although crime rates are high, most do not participate because people are good for the most part. The major drags are scams, unpaid workers, phone theft (a phone is more likely to be stolen than a laptop), equipment sabotage (from wiring to rail tracks), political campaign related violence and most especially, theft, corruption and embezzlement by government officials. In an environment of rampant corruption, minimizing the surface area exposed to trust is a rational preference. It might even be helpful in exiting a high corruption steady state.
jkhdigital 5y ago
You obviously live in a society where central authorities are, in fact, trustworthy enough to handle these things. A cursory glance at history—or at other societies even in the present day—shows that this is a shockingly rare state of affairs.

koolba 5y ago

> Anyone may show at your home and steal your crypto currency at gun point, you may pay for items that are not delivered, your employer may not pay you. Authorities and the rule of law are fully needed for any functional society. In a crypto anarchist’s dream world, the employee’s income claimable token could be resold, purchased by a loan shark, and the loan shark could provide another permission-less contract where anybody can upload a picture of the employer’s knees being broken, likely verified on chain by some other pain oracle.

Vetch 5y ago

In my experience, your described state of affairs is common in poor economies. Robberies and kidnapping ransoms are relatively frequent. Shootings are rare but still way too frequent. Workers often go unpaid and it's not unusual for wages to total less than transportation costs. Landlords are known to have poor memories about paid rent and it's not uncommon for deliveries to be stolen and containers disappear. There's a real risk of valuable goods ordered internationally "disappearing" in customs. The countervailing factors are, the poor are mostly ignored (except for kidnappings of large groups of children) while the rich can afford private security at an equilibrium price point where betrayal is not rational. Although crime rates are high, most do not participate because people are good for the most part. The major drags are scams, unpaid workers, phone theft (a phone is more likely to be stolen than a laptop), equipment sabotage (from wiring to rail tracks), political campaign related violence and most especially, theft, corruption and embezzlement by government officials. In an environment of rampant corruption, minimizing the surface area exposed to trust is a rational preference. It might even be helpful in exiting a high corruption steady state.

jkhdigital 5y ago

You obviously live in a society where central authorities are, in fact, trustworthy enough to handle these things. A cursory glance at history—or at other societies even in the present day—shows that this is a shockingly rare state of affairs.