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> So we now have a technical marvel used for financial speculation, conducting illicit transactions, and dodging regulators You're right, it's an impressive pi
by tcgv 4y ago
> So we now have a technical marvel used for financial speculation, conducting illicit transactions, and dodging regulators
You're right, it's an impressive piece technology that's been growing through questionable use cases. But that's not the fault of the underlying technology, but of the actors involved.
As long as blockchains are treated as a second class citizen, governments choose to ostracize it, financial oligopolies lobby against it, things won't change.
But imagine what could be accomplished if governments decided to embrace and properly regulate it, and what it could empower in our society in terms of a more open and acessible socio-economic environment.
Let's not blame the technology.
- soulofmischief 4y agoFriend, blockchains were designed to circumvent centralized regulation. Fraud is still illegal whether or not you use a funny internet cryptography tool, we don't need to be regulating our tools.
- the_gastropod 4y ago"Properly regulate" a thing whose only purpose is to bypass regulation. Seems legit...
- DangMeatSlurper 4y ago
- solardev 4y ago> Let's not blame the technology That sounds like something people say to defend guns, nukes, and crypto. Why wouldn't you blame a technology whose primary use is malignant? It's not like the crypto hellscape we have now was an accident of its evolution. It was the inevitable and predictable outcome of a decentralized and poorly regulated system built atop complex code that the average person has little chance of properly evaluating. From all appearances, this is exactly how they were designed and exactly the point, to extract money from fools and funnel it to a select few crypto bankers. That's not a good thing.