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The entire point of cryptocurrency is to bypass this stuff. If you're using a regulated exchange, just go and buy Apple shares or use a bank instead. It really
by throwaway55421 5y ago
The entire point of cryptocurrency is to bypass this stuff.
If you're using a regulated exchange, just go and buy Apple shares or use a bank instead. It really is almost completely pointless.
- nomercy400 5y agoI think it is less about not having regulations and more about bypassing the current establishment of banks and exchanges. It feels more like a union of those shunned by the current establishment, trying to get a piece of the money pie.
- netcan 5y agoWho's point? The whole point of Google, to some people at Google, might have been "don't be evil" at one point in time. Decentralisation was the whole point of the WWW. Different people have different goals. Largely, it's just about making money.
- spiorf 5y agoExactly. Since making money is the real point, someone bypassed all the bullshit about purpose and literally made a new form of money with properties different from any form of money before. You can like it or not, but it is not going to just stop existing.
- netcan 5y agoSure. That wasn't a criticism of crypto. Whether one of those properties is "freedom from regulation" is yet to be seen. I personally quite doubt it.
- throwaway55421 5y agoGoogle is a company, it's not comparable. Companies almost by definition seek to gain at the expense of others, if not initially then a few years in after the honeymoon. I agree that decentralisation is the whole point of the WWW and I use it in that manner, I think people who spend all of their time on one or two centralised platforms are bizarre.
- netcan 5y ago>>I think people who spend all of their time on one or two centralised platforms are bizarre. I think you are missing the point. The rhetorical does not dictate what will actually happen. Crypto is a step ahead of regulators, in much the same way that uber was ahead of regulators. That allowed uber to blast through a global complex of taxi regulations. Crypto has/is similarly able to innovate outside of a handful of institutions. That does not mean that it's unregulatable. Also, if both regulated and unregulated options exist... there's no reason to think that the unregulated one wins.