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Western countries are rapidly moving from being high-trust to low-trust societies. The reasons for this are multifaceted, complex, and self-reinforcing, and it
by Analemma_ 4y ago
Western countries are rapidly moving from being high-trust to low-trust societies. The reasons for this are multifaceted, complex, and self-reinforcing, and it isn't likely that the trend will be reversed any time soon. Certainly not within our lifetimes. So we can either stick our heads in the sand about it, or develop technologies to deal with it as best we can. I'm not a crypto fan myself, but I understand why it exists and why it will probably be increasingly important as time goes on.
- Layke1123 4y agoNo one will ever trust a completely trustless coin, because if you can't trust each other, putting trust in an abstract concept isn't exactly a winning solution. Human trust matters, not mathematical trust.
- h-w 4y agoUnfortunately you don’t understand what trustless means in this context. “No one trusts a trustless coin” makes no sense, there is no trust required for it to function (theoretically). It works as expected whether your counterparty is a saint or entirely corrupt.
- Layke1123 4y agoI do, I think. No one wants to use a coin that also let's criminals do dark things with even less scrutiny than fiat currencies.
- wyclif 4y agoAnd we can see this across all levels of society, from cryptocurrency to grade inflation to George Floyd to political corruption to school shootings. The loss of trust in institutions is particularly accelerated today, whereas people of the "Greatest Generation" who are dying now grew up in a world where teachers, police, and politicians were generally trusted.