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Even government wants in on it with digital dollars.
by tiku 3y ago
Even government wants in on it with digital dollars.
- HWR_14 3y agoMost of my dollars are digital dollars anyway. The fact that crypto is digital seems like highlighting an unimportant feature.
- stavros 3y agoYour dollars might be digital, but they aren't permissionless.
- pjc50 3y agoCryptocurrency isn't permissionless either, it's just enforcement-evading.
- stavros 3y agoCryptocurrency isn't permissionless? Whom do I have to ask permission from to spend my bitcoin?
- pjc50 3y agoWhat I mean is that if a transaction is illegal, e.g. sanctions-evading, it remains illegal even if done with cryptocurrency and your likelihood of discovery or prosecution is low.
- stavros 3y agoWhat I mean is I don't need to ask the bank to spend my money.
- HWR_14 3y agoAnd you think the digital currency put forward by the central banks will be as permissive as BTC?
- stavros 3y agoNo, that's my point.
- ben_w 3y agoIf you don't need to ask permission to spend your money, then neither does anyone else need permission to spend your money. Fraud protection (and protection against the bank itself making mistakes) may not be perfect, and will vary by jurisdiction, but it's more than nothing.
- stavros 3y ago> If you don't need to ask permission to spend your money, then neither does anyone else need permission to spend your money. I feel like this sentence doesn't know how cryptocurrency or cash works.
- ben_w 3y agoKeys, like cash, can be stolen. Hackers steal money from a bank account, if it's the bank's fault it was possible, the bank makes you whole.
- stavros 3y agoYes, they can be stolen. I trust myself more to hold my keys than I trust the bank to always allow me to spend my money, though. I've never lost my keys, but I have had my bank not allow me to spend my money.