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>Crypto does solve a few real world issues (fast, global, cheap, secure, anonymized transfer of value). Crypto does not solve any of those issues. The actual s
by hnthrow1010 4y ago
>Crypto does solve a few real world issues (fast, global, cheap, secure, anonymized transfer of value).
Crypto does not solve any of those issues. The actual solution to most of those issues is called a "payment service" of which there were many that existed before blockchains. How is it do you suppose that companies like ebay and amazon were able to securely and quickly process internet payments in the 90s? They certainly didn't need blockchains to do it. You could argue that they aren't anonymized, but neither is crypto; it is only pseudonymous at best, in practice it is not even that as the exchanges that do the bare minimum of fraud prevention will require you to identify yourself.