4 ms·
I agree with basically everything here. There two fundamental problems here: 1. Crypto is being designed by smart engineers who fully understand the financial
by jmyeet 4y ago
I agree with basically everything here. There two fundamental problems here:
1. Crypto is being designed by smart engineers who fully understand the financial system. Specifically they don’t understand why it is the way it is. It didn’t just magically appear this way full of obvious flaws. It grew over thousands of years; and
2. Most of the people pushing crypto are honestly just trying to get rich quick. Most missed out on the Bitcoin wealth transfer so they are eager to jump on or create the next Bitcoin. And pretty much all of them have a vested interest in convincing you.
- olalonde 4y ago> Specifically they don’t understand why it is the way it is. It didn’t just magically appear this way full of obvious flaws. It grew over thousands of years That's just an argument in defense of status quo. It's actually pretty common for industry outsiders to disrupt old industries. Think Uber/Airbnb/Facebook/Tesla, etc. Thousand year old industries get disrupted all the time.
- fortuna86 4y ago> Thousand year old industries get disrupted all the time. They really don't. The fundamentals of banking as an industry haven't changed in hundreds if not thousands of years. Real estate, etc.