5 ms·

We should not be replacing a system with a completely destructive and even worse one which is crypto. Government backed money is the worst form of money, excep

• BLKNSLVR 4y ago
  On the timescale of money, crypto has not existed long enough to say it's been "tried" (or at least not long enough to say it's not worth continuing the experiment / continuing to try). What it has done, which seems to exist outside the blinkered view, is that for a number of years now, bitcoin and some other cryptocurrencies have been very successful at being transferable between two parties no matter their geographical location and without a third party acting as intermediary or authority. For those who participate, this is an exchange of value. For those who don't participate it should be at least seen as a half decent proof of concept of something that could be used as an exchange of value (money).
  • colesantiago 4y ago
    > proof of concept Yet this 'proof of concept' is too slow to be used in the real world after 15+ years with little to nobody using it at all. UPI has been available for 6 years with almost 700 million users and is expanding their network globally. So even by trying to send money, there is no need for crypto at all for this case as this has already been improved and done by the current system. You might as well use Wise, UPI and other regulated money transfer services that exist in current system. I look forward to FedNow removing even more need for crypto to exist.