15 ms·

So the problem isn’t the existence of a USD digital system. The issue would only arise if cash was eliminated. I completely agree on the need for cash, but as

So the problem isn’t the existence of a USD digital system. The issue would only arise if cash was eliminated. I completely agree on the need for cash, but as long as we’re also keeping cash a digital USD would solve every problem crypto claims to solve while still allowing for a non dystopian future. In fact, crypto is completely dystopian because there is absolutely no space for cash in it, and further, by being distributed and therefore pseudonymous at best, it actually opens massive privacy and security pandora boxes.

exo762 4y ago
> In fact, crypto is completely dystopian because there is absolutely no space for cash in it, and further, by being distributed and therefore pseudonymous at best, it actually opens massive privacy and security pandora boxes. I don't think crypto positions itself as the only option (Bitcoin maxis aside). So there is definitely space for cash, space for tokenized USD, space for collateralized algo stablecoins. Why distributed implies "pseudonimous at best"? Have you looked into what can be done with zero-knowledge proofs? With MPC?
BiteCode_dev 4y ago
Oh, I though it was the idea to go full electronic. Then yes, a perfect ledger for all monetary transactions would be great, espacially for big sums. Appart from that, the current financial system is mostly digital and satisfactory for day to day payments.
ridgered4 4y ago
> In fact, crypto is completely dystopian because there is absolutely no space for cash in it, and further, by being distributed and therefore pseudonymous at best, it actually opens massive privacy and security pandora boxes. Is this true of all coins though? I know little about crypto, but I gather from reading on here while the privacy of bitcoin was greatly exaggerated/false other coins use actually privacy respecting schemes. Of course, that would assume that the schemes they use work perfectly which is probably a ridiculous assumption.

exo762 4y ago

> In fact, crypto is completely dystopian because there is absolutely no space for cash in it, and further, by being distributed and therefore pseudonymous at best, it actually opens massive privacy and security pandora boxes. I don't think crypto positions itself as the only option (Bitcoin maxis aside). So there is definitely space for cash, space for tokenized USD, space for collateralized algo stablecoins. Why distributed implies "pseudonimous at best"? Have you looked into what can be done with zero-knowledge proofs? With MPC?

BiteCode_dev 4y ago

Oh, I though it was the idea to go full electronic. Then yes, a perfect ledger for all monetary transactions would be great, espacially for big sums. Appart from that, the current financial system is mostly digital and satisfactory for day to day payments.

ridgered4 4y ago

> In fact, crypto is completely dystopian because there is absolutely no space for cash in it, and further, by being distributed and therefore pseudonymous at best, it actually opens massive privacy and security pandora boxes. Is this true of all coins though? I know little about crypto, but I gather from reading on here while the privacy of bitcoin was greatly exaggerated/false other coins use actually privacy respecting schemes. Of course, that would assume that the schemes they use work perfectly which is probably a ridiculous assumption.