4 ms·
Not really like-for-like though - in this case a more appropriate saying would be "don't let a licenced professional purveyor of meat with provenance trails jud
by astoor 5y ago
Not really like-for-like though - in this case a more appropriate saying would be "don't let a licenced professional purveyor of meat with provenance trails judge unlicenced masked street-vendors of meat-like substances of unknown origin during a time of unprecedented household pet disappearances".
- thebean11 5y agoThe inner workings of Bitcoin are a lot less unknown than those of banks or governments. You might not agree with the principles of Bitcoin, or the valuation, but it’s certainly transparent.
- JumpCrisscross 5y ago> inner workings of Bitcoin are a lot less unknown than those of banks or governments Those inner workings are analogous to the SWIFT protocol. Memorising its messenger codes won’t teach you much about banking. Where it matters—who owns what, controls what and to what end—both are opaque.
- thebean11 5y agoThe research and discussions between devs on protocol changes are public. The mechanics of who gets access to make transactions, who prints currency, and how transactions are confirmed is public.
- jpgvm 5y agoUnknown to you maybe, not unknown by bankers or bureaucrats. These systems have evolved over a very long period, with that comes mostly good but definitely some inefficiency which is periodically cleaned out when stimulus reach a breaking point. I wouldn't be so quick to dismiss the current system, it's on balance been a good system - doesn't mean it can't be improved of course but I think improvement should be the name of the game rather than wholesale rejection just because you don't understand why it is the way it is.
- thebean11 5y agoI'm not dismissing anything except the idea that Bitcoin is somehow opaque or unknown. > Unknown to you maybe, not unknown by bankers or bureaucrats. The difference is that I, as someone who is not a banker or a bureaucrat, do not have access to the information. With Bitcoin the code and developer communities are completely public.
- LatteLazy 5y agoIm not normally Mr Fiat is a Ponzi Scheme but... Central banks are no more licensed than your local ICO. Some are better than others. Given the issues India has had with its currency, they might not want to throw stones...
- nindalf 5y ago> Issues india has had with its currency Pray, enlighten us.
- ngc248 5y agoPeople in the west may have no idea about India's institutions and the progress they have achieved. RBI (banking), TRAI (telecom) etc regulators have been amazing. For ex: UPI (https://en.wikipedia.org/wiki/Unified_Payments_Interface https://en.wikipedia.org/wiki/Unified_Payments_Interface) etc
- deleted 5y ago[deleted]