4 ms·

I think with cryptocurrencies we need to consider the sheer speed at which mass transactions can occur, and 24/7 to boot.

• salawat 4y ago
  Technically, the problem you're restricting to cryptocurrencies is actually something finance as a whole just deal with. Everyone could withdraw all their money at the same time. What happens then? The answer is bank run. There will literally not be enough cash to do it. The entire system is running on the fact that everyone has not done that yet. Personally, I want to have it happen, just to force the system to come to terms with the fact that it isn't all just about numbers, and so that people can actually materially witness the sheer magnitude of monetary centralization created by our system. Fuck the inconvenience. If Mammon is going to fucking rule, let everyone see it's rictus. Let everyone take in what it looks like.
  • danans 4y ago
    > Personally, I want to have it happen, just to force the system to come to terms with the fact that it isn't all just about numbers, and so that people can actually materially witness the sheer magnitude of monetary centralization created by our system. The question is are you also willing to give up the easily ignored benefits of monetary centralization, which are significant and foundational to the trust that underpins technological and social progress.
    • conorcleary 4y ago
      We can have both.