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> All that's really happening, as someone else on HN aptly put it, is we're speed-running the history of finance out again in crypto-land. I’d be surprised if
by diab0lic 4y ago
> All that's really happening, as someone else on HN aptly put it, is we're speed-running the history of finance out again in crypto-land.
I’d be surprised if the person who said this meant it was a good thing. The sentence literally acknowledges a similarity between crypto and traditional finance. Yet instead of taking those lessons and implementing the solutions the crypto space insists on making the mistakes over again and maybe learning the lessons. The cognitive dissonance in this space is intense.
- robcohen 4y agoYes, the space is making the same mistakes but that has more to do with the nature of humanity and its tendency toward corruption. It does feel like a missed opportunity, but intellectually I am pretty convinced the corruption was inevitable. That said, this is all growing pains. It’ll pass. The price of crypto does not need to stay high for the benefits to be present. It just needs to stay above the price level where an adversary can simply buy a significant percentage of the network. I still believe in the promises of crypto.