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True - but two thoughts 1. This makes them utterly useless, because it turns out it's essentially impossible to transact without trusting a third party with th
by horsawlarway 4y ago
True - but two thoughts
1. This makes them utterly useless, because it turns out it's essentially impossible to transact without trusting a third party with those coins at some point. Unless you have literally mined every coin you've ever used, and never used escrow - the "Code is law" argument as above is a terrible paradigm for social transactions that require some form of trust. We have literal centuries of legal code built to attempt to resolve this precise issue for real tender, and crypto is a shitty, shitty attempt to replace it.
2. It turns out most of the "crypto crowd" isn't in it for using these things as actual currency, they're get-rich-quick fuckwads, and the actual ownership of the coin mattered very little when it was just an investment vehicle they were planning to convert back to dollars at some point.