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I suppose the other commenter doesn't really leave out the argument that "better cryptocurrencies" can only mean "more government oversight." I'm not really su
by ryukoposting 5y ago
I suppose the other commenter doesn't really leave out the argument that "better cryptocurrencies" can only mean "more government oversight."
I'm not really sure what a secure, generalized zero-trust system really looks like, from an algorithmic standpoint or a political standpoint. ETH is arguably the first large-scale attempt to answer that question, but so far it has unequivocally failed to do that.
> but if the plan is to run an illegal business that's hard to shut down...you do not need blockchain to do that?
It sure as hell makes it easier. Think about NFTs for a moment - they have the perfect recipe for money laundering:
1. Subjective market value (examples: paintings, pokemon cards)
2. High market value.
3. Relatively-unregulated bookkeeping system (examples: other cryptos, any transaction in a tax haven)
4. Trivial mechanisms for layering as a result of (3).
5. Easy (not necessarily cheap) liquidation (examples: casinos)