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"If the wildest fantasies of cryptocurrency enthusiasts were to come true, if all the environmental and technical objections were to fall away, the result would
by dudeinsf 5y ago
"If the wildest fantasies of cryptocurrency enthusiasts were to come true, if all the environmental and technical objections were to fall away, the result would be financial capitalism with all the brakes taken off."
This is sensationalism at best, and out right misinformation at it's worst. Come on, the crypto crowd isn't calling for abolishing regulation and creating pure financial anarchy. The general sentiment is we want more transparency so that innovation can continue and "Web3" ideas can take shape.
I agree that we continue to over speculate into bubbles, and many people lose each time. I hope that most people are told and understand the serious risks involved. I'm not naive enough to think this is the case; some people are destined to lose their money and crypto makes it much easier. But the true innovation of blockchain still stands, and that is we've found a way to trust each other through bits instead of people, and that's a damn big deal.
These articles are good to reflect inherit risks to investing, but bad in that they paint an image of the evil crypto doers out to kill off all financial rule. That's not the case.
- exikyut 5y agoQuick question - this comment looks like it was aimed at another thread, or narrowly, another comment in this thread. Or did Arc just glitch?
- dudeinsf 5y agoYeah, this is very strange. I've never even read this thread, and I (think) I remember seeing this on the correct page at one point. Maybe a bug somewhere? My comment was in response to a thread linking this article: https://www.watershed.co.uk/studio/news/2021/12/03/case-against-crypto https://www.watershed.co.uk/studio/news/2021/12/03/case-agai...