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In other words, you're saying crypto really isn't about financial innovation, it's actually about anarchy. Well I want nothing of that.

by _xnmw 5y ago

nkuttler 5y ago
Are you saying that a free market for currencies is anarchy?
- oblio 5y ago
  1. Currencies should first and foremost be stable, not speculation vehicles and they need to have really low transaction fees. The main cryptocurrencies in use right now fail both of those tests and for the rest... Well, they have to be weeded out, too many experiments and scams at the moment. We need to check the survivors in 10 years. 2. Currency is a major tool for social stability and requires intervention occasionally. Yes, a free market for currencies is socially very dangerous.
McAtNite 5y ago
Early crypto was an innovation in that certain aspects of the financial system were set to be controlled solely by code, and could not be influenced by any outside force. For example, no one can magically issue new bitcoins. The entire idea isn’t anarchy, but guaranteed constants separated from centralized authorities that could change parameters on a whim. It’s why you’ll occasionally hear people who have been in the crypto space for awhile say, “code is law.” Again, you really need to understand the criticisms of 2008 to understand Bitcoin. Modern crypto? Well it’s changed a lot over the years. Sure a lot of it is about “innovations”, and there are some genuinely good ideas out there, but a lot of it feels like the transition from the early web to what we have now. That can be good or bad depending on your point of view.
Koshkin 5y ago
You say anarchy, I say freedom.
MrMan 5y ago
you are in the literal center of techno libertarianism, so good luck
throwaway22032 5y ago
Yes, the explicit goal of most of the early individuals in the Bitcoin space was an anarchic desire to reduce the influence of the State on our lives. Please do stay away if you're not interested, we don't want you either.

In other words, you're saying crypto really isn't about financial innovation, it's actually about anarchy. Well I want nothing of that.

by _xnmw 5y ago

In other words, you're saying crypto really isn't about financial innovation, it's actually about anarchy. Well I want nothing of that.

nkuttler 5y ago

Are you saying that a free market for currencies is anarchy?

oblio 5y ago
1. Currencies should first and foremost be stable, not speculation vehicles and they need to have really low transaction fees. The main cryptocurrencies in use right now fail both of those tests and for the rest... Well, they have to be weeded out, too many experiments and scams at the moment. We need to check the survivors in 10 years. 2. Currency is a major tool for social stability and requires intervention occasionally. Yes, a free market for currencies is socially very dangerous.

McAtNite 5y ago

Early crypto was an innovation in that certain aspects of the financial system were set to be controlled solely by code, and could not be influenced by any outside force. For example, no one can magically issue new bitcoins. The entire idea isn’t anarchy, but guaranteed constants separated from centralized authorities that could change parameters on a whim. It’s why you’ll occasionally hear people who have been in the crypto space for awhile say, “code is law.” Again, you really need to understand the criticisms of 2008 to understand Bitcoin. Modern crypto? Well it’s changed a lot over the years. Sure a lot of it is about “innovations”, and there are some genuinely good ideas out there, but a lot of it feels like the transition from the early web to what we have now. That can be good or bad depending on your point of view.

Koshkin 5y ago

You say anarchy, I say freedom.

MrMan 5y ago

you are in the literal center of techno libertarianism, so good luck

throwaway22032 5y ago

Yes, the explicit goal of most of the early individuals in the Bitcoin space was an anarchic desire to reduce the influence of the State on our lives. Please do stay away if you're not interested, we don't want you either.