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All of these scenarios can be addressed with a fungible cryptocurrency.
by xanaxagoras 5y ago
All of these scenarios can be addressed with a fungible cryptocurrency.
- conradev 5y agoYes, that is the argument I am making. But it is important that these fungible cryptocurrencies are as cash-like as possible. So, no global ledger.
- sweetbitter 5y agoI always tend to assume good faith in discussions, so I must ask, are you trolling? Or is it just that HN's general antagonism towards any form of cryptographic currency stems from a dearth of information?
- deleted 5y ago[deleted]
- conradev 5y agoNo, I did not mean to come off as trolling at all! https://news.ycombinator.com/item?id=30441804 https://news.ycombinator.com/item?id=30441804 Someone was arguing that we should reject a cashless society, and I was making an argument that it is impossible to do at this point. The only solution is to have a digital currency as close to cash as possible. Ethereum (on its own) does not meet this requirement. It is perfectly fungible, but still has a global ledger that can be used to track transactions. It is important that people move to standard L2s that don’t have a record of every transaction. Bitcoin is actually not fungible in the first place. The Lightning network does provide transaction privacy, though. By “no global ledger” I should have clarified: there might be a need for a global ledger, but it should be missing all consumer transactions.
- xanaxagoras 5y agoThoughts on Monero? I liked it the best when I started looking into crypto, but with so much momentum behind bitcoin I just kind of went down that path instead.
- deleted 5y ago[deleted]
- tenuousemphasis 5y agoLightning on top of Bitcoin fulfills that retirement.