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Agreed, this is a must-read, very well-written paper. Even though it turned out the world didn't really need cryptocurrencies.
by pyb 3y ago
Agreed, this is a must-read, very well-written paper. Even though it turned out the world didn't really need cryptocurrencies.
- lowkey 3y agoAgree with your assessment of cryptocurrencies in general but having seen the adoption of Bitcoin in authoritarian and inflationary regimes, the world most certainly does need access to a digital peer-to-peer currency that is censorship-resistant and virtually immune to debasement. Even if you argue that Bitcoin as it has evolved has flaws, it is the best implementation we’ve come up with so far. Like democracy, it isn’t perfect but it is much better for its use case than anything else we have come up with to date.
- sowbug 3y agoIt took a while for the tinfoil-hat stance on privacy to catch on, but it's safe to say that today it has lost its fringe status. Similarly, it might still be years before we see widespread acceptance of the importance of an unrestricted, global value-transfer mechanism. You miss something only when it's gone.