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That decentralized digital currencies provide no value is the extraordinary claim. It's a statement that is obviously false to anyone who's been following mains
by prvit 4y ago
That decentralized digital currencies provide no value is the extraordinary claim. It's a statement that is obviously false to anyone who's been following mainstream news in the past years.
Darknet markets exist, are not a big secret, and are largely enabled by cryptocurrencies. This stuff has been in mainstream press since 2013.
- malermeister 4y ago> Darknet markets exist, are not a big secret, and are largely enabled by cryptocurrencies. Ask people if they think a market for criminals to exchange illegal goods and services provides positive value and you'll find that most don't think it does. Just cause there's money to be made, doesn't mean value is created or otherwise robberies would be quite valuable too.
- prvit 4y agoGiven that there are voluntary buyers and sellers choosing to engage in these exchanges of real products, the suggestion that no value is created directly contradicts very basic economic theory.
- malermeister 4y agoEconomy is not the only indicator of value and to treat it as such is an overly reductive view of the world. If a market enables breaking of laws created by democratic processes, any economic value is outweighed by its negative societal and democratic value.
- prvit 4y agoEven if the outcome isn't net positive, that doesn't mean that there is no value created.
- malermeister 4y agoI suppose that is true, but also very nitpicky. Let me rephrase: no net value is created. If you win 50 bucks in a casino and spent 100 betting, I suppose you technically "won" 50 bucks, but in colloquial use of language it'd be more correct to say you lost 50 bucks.
- prvit 4y agoIn the case of darknet markets, value is created for all participants, otherwise the deals wouldn't happen. There's no coercion involved. The externalities are debatable, but I think we can accept that drug trade in the onionland has less negative externalities than drug trade on the street.