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Having felt this for a while (and then jumping off the bandwagon in ~2017), I feel like Crypto's dream of a 'money protocol' has been perverted too far to touch
by smoldesu 4y ago
Having felt this for a while (and then jumping off the bandwagon in ~2017), I feel like Crypto's dream of a 'money protocol' has been perverted too far to touch. Go figure, introducing money into a democratic system incentivizes the wrong things.
Maybe things will shake out differently in the future, but there's not a chance in hell that a money API gets made without some form of regulation or profiteering. Goodwill alone is not enough to drive a bartering system, as proven by the disaster that is crypto's overall price instability and corresponding 'stablecoin' corruption.
- jrm4 4y ago"API" is a funny term to use here, considering that APIs are always "permission based," borderline political. Crypto is designed to be somewhat of the opposite of that idea. Anyway, I think the real use case isn't "day to day transactions," it's better "money in a mattress." along with a staking/savings instrument.