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Ban crypto. Wrap the whole thing up globally. It was a bad idea allowed to run on for too long. Time to stop the music.
by oldjim69 3y ago
Ban crypto. Wrap the whole thing up globally. It was a bad idea allowed to run on for too long. Time to stop the music.
- monero-xmr 3y agoLuckily you can’t outlaw math!
- quenix 3y agoYeah but you can outlaw specific uses of it. Not saying I agree with it but crypto can definitely be made illegal.
- aaomidi 3y agoGetting rid of exchanges would absolutely destroy the value of crypto.
- latchkey 3y agoShould we also ban private communication too? To be clear, we don't get to choose which parts of math we ban and which parts we don't.
- phowat 3y agoWe most certainly do get to choose if we want to. Why not ?
- latchkey 3y agoBecause it doesn't work out like you think it would. Those of us who have been on the internet a long time remember pre-1999 days. Banning or preventing people from using math only empowers other countries that develop it on their own. https://www.csis.org/analysis/end-export-controls https://www.csis.org/analysis/end-export-controls
- suoduandao3 3y agoI'm sure the anti-crypto crowd would like nothing better.
- Patrol8394 3y agoYes, but in majority of cases you still need some legal entity that can convert crypto to fiat so you can actually buy stuff with real money. Would be enough to forbid that and crypto is pretty much done.
- npoc 3y agoYou called fiat "real money"? That's where you're wrong.
- burnte 3y agoYou're right, it's ALL fiat money. All money that has ever existed was fiat money, from shells and dollars to bitcoins and xbox points. IF it doesn't have INHERENT value as food, fuel, etc, then it's a fiat currency, it has value because we declare it to be so. Cryptocoins are the ultimate fiat because they don't even really exist.
- npoc 3y agoNo fiat means by decree. Its used to differentiate money that takes equal or more work to create/issue (e.g. gold), from money whose issuance is controlled by the central banks who can create it out of thin air with little to no work.
- _lvbh 3y ago> it's ALL fiat money > IF it doesn't have INHERENT value as food, fuel, etc, then it's a fiat currency I’m pretty sure there are still gold or oil backed currencies around
- burnte 3y agoGold and silver back currencies are also fiat, because we value the gold and silver, not because gold will feed your kids or grow your crops.
- 3y ago
- phoe-krk 3y agoYou can outlaw exchanging math for dollars, though.
- jjtheblunt 3y agoi've read countless things you've commented, usually our interests diverge, but this one made me silently think "exactly!". well done!
- mrkramer 3y agoCrypto turned exactly opposite of what Satoshi wanted....he or they wanted transparent, mathematically (cryptographically) proven, decentralized open ledger transactions, not this sh*t show of fraud and anarchy.
- jgilias 3y agoHow do you know what Satoshi wanted? For all we know Satoshi might be Paul Le Roux making a way to move value for his ‘business endeavors’
- mrkramer 3y agoJust read white paper....Satoshi was legit; Satoshi was most probably an academic and a business man (I would say gambling industry) who wanted to eliminate fraud and double spending in the digital world. No drugs, no this wild anarchy. He wanted decentralized digital cash, that's all.
- jgilias 3y agoAnd that’s exactly what Bitcoin is. I don’t think someone with his mental faculties would have been naive enough to not realize how it could and would be used.
- scottLobster 3y agoYou been following OpenAI drama? Details are still coming out, but so far it sounds like the textbook case for very smart but naive idealists not having a clue as to how people or power work. For example, Ilya Sutskever was apparently at the helm of the now-aborted coup. Look at any picture of him. The guy fancies himself a leader of a corporate coup but lacks the social awareness to shave the ugly scraggly remains of hair off the front of his balding head. Nothing wrong with being bald, but you can at least tidy up your hairline and not be intentionally ugly. Appearances matter, particularly in a public-facing leadership role. Even SBF was smart enough to turn his dishevelment into part of his marketing. Ilya lacks the personality to pull such a thing off, and strikes me as the kind of guy who just doesn't expect to be judged for his appearance, and if someone did he would probably make some moral statement about judging books by their cover. He would be technically correct and completely ineffective, just like his coup attempt.
- suoduandao3 3y agoWhat, and trust the people who have been doing QE for half my life with the soundness of my medium of exchange? The same people who froze the bank accounts of peaceful protestors in my capitol city last year? I'll abandon crypto when it becomes the second-best alternative to a state-controlled money supply. The shenanigans of the Davos crowd are becoming too weird to do otherwise.
- ttul 3y agoI recall having a conversation in about 2016 with a lawyer who was looking into crypto for potential opportunities. After a thorough analysis, he said, “In a few years, all these people will be in jail.” He was right.
- capableweb 3y agoExcept it's 2023, and almost no people who've dealt with cryptocurrency is in jail. A few notable exceptions exists, but you don't exactly go to jail for sending 0.1 Bitcoin around.
- thriftwy 3y ago> globally There is no longer such thing in 2023. Try to do anything "globally" and get ridiculed out by China and Russia. Rest of the team being AFK. That's especially significant in light of pretending there's a "global" climate change fight going on.