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> missing the key components of regulation and trust I thought that those are supposed to be the key components of crypto. You trust that it is regulated by m
by ta8645 3y ago
> missing the key components of regulation and trust
I thought that those are supposed to be the key components of crypto. You trust that it is regulated by mathematics, the market, and infrastructure, rather than relying on fiat.
- Retric 3y agoMathematics alone doesn’t interface with the real world thus you get crypto exchanges etc. The crypto ecosystem is therefore still built on trust not the blockchain.
- PeterisP 3y agoThe key products of the financial system is not transfer of money (which crypto provides) but rather credit (with the associated issues of trust and enforcement of settlement against someone's will) and payment for goods and services (with the associated need for fraud prevention on both sides of the deal and reversibility of payments). Mathematics cannot provide that kind of trust.