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I think it is worth it to separate money from State. Now we just need the militaries to cut their defense-of-fiat-money forces in half.
by landemva 5y ago
I think it is worth it to separate money from State. Now we just need the militaries to cut their defense-of-fiat-money forces in half.
- schmichael 5y agoI can respect this view on cryptocurrency. I don't agree with it (I <3 representative democracy), but I can absolutely respect it. Giving up centralization and trust is expensive from an efficiency standpoint. If you look at Bitcoin for every day transactions it lags fiat in almost every functional dimension: latency, user experience, power usage, scalability, etc. But! Bitcoin does have one completely novel trick! It can operate without State backing. No authorities. No trust between parties (whether miner<->miner, node<->miner, or node<->node). Centralization seems somewhat questionable these days, but I think "decentralized enough" is a fair assessment. None of this is something I look for in a currency, but I can appreciate how cryptocurrencies fill that niche for those who do.
- bduerst 5y agoI disagree on the former. Destroying the environment just to get a shitty, inefficient, non-competitive payment system because you don't like the U.S. Federal Reserve isn't a good trade.