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It might surprise you to know that in fact kitchen utensils and what they're made out of is regulated in the USA - and I assume most other industrialized countr

• wongarsu 4y ago
  In a way, crypto is a sophisticated way to enforce (self)regulation. Rules are set to enforce certain behavior (no token can be spent twice, tokens can only be minted in specific circumstances and amounts, etc.) and give everyone easy ways to validate that the rules are enforced. Some think that all rules you ever need can be encoded in the network, removing the need for "external" regulation. Of course that's not entirely realistic.
• Swizec 4y ago
  The definition of a fork is centrally regulated, yes, but using forks is decentralized. There is no central authority saying "We will make N forks this month" or "You will use a fork at 2pm for exactly 10 bites". Cash is similarly decentralized in that its definition and creation is centrally regulated, but nobody says (or even can say) how and when you can use it. Cash transactions between people happen without any central authority. There's not even a central authority definiting the price/value of goods! You can just agree on a number with some rando, exchange cash for things/services, and nobody will ever know it even happened, let alone be able to tell you how and when to do it.