5 ms·
Cryptocurrencies have been around for almost 15 years now; it's not "new tech". In 2010 or even 2013 I would have agreed with you, but that's a long time ago.
by Beltalowda 4y ago
Cryptocurrencies have been around for almost 15 years now; it's not "new tech". In 2010 or even 2013 I would have agreed with you, but that's a long time ago.
- jrm4 4y agoFax Machines invented in the 1800s, Voice Mail invented in the 1930's, etc etc. Not a compelling argument.
- dredmorbius 4y agoBoth those examples were delayed principally because of 1) technical limitations and 2) network effects. Cryptocurrency faces neither. The systems used to create, store, and transfer them are widely available. The network on which they can be transacted is ubiquitous. Cashing in/out is easy. What's holding the concept back is its fundamental and intrinsic costs (imposed by the algorith / concept itself, rather than economic limitations), opacity, inferiority to trust-based systems (e.g., credit payments or ordinary cash currency), inherent risks (both economic and criminal), and lack of safeguards (individual / transactional, systemic / institutional).