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I expected crypto to actually be adopted by a larger market. Since then I've been disillusioned and I have completely lost faith in it. It has been 15 years of
by ManlyBread 3y ago
I expected crypto to actually be adopted by a larger market. Since then I've been disillusioned and I have completely lost faith in it. It has been 15 years of Bitcoin and the usage is still pretty much limited to speculation and online scams. I can't think about a single popular online store that accepts any cryptocurrency.
On top of that the price of BTC is so disjointed from reality that a singular transaction at the time of writing this post costs ~12$. Imagine taking a single trip to a grocery store, a bakery and a meat shop and paying 36$ for, well, paying. It's insane.
- culebron21 3y agoWell, as an economist by training, I knew economy works thanks to trust. You can't buy anything without trust even in a (real) marketplace by swapping cash and the commodity. There's still a enough room for fraud. But tech industry doesn't listen to humanities and tried it themselves to make a tech that assumes no trust at all. Well, it actually has been a good experiment -- now we know what's the cost of total distrust in a perfect model market. And this extends to other areas. For example, in my country, road police service made a system where you'd book an exam and come alone, and just do it, to eliminate local gatekeepers. Well, the gatekeepers (local road police and driving schools, that consist of ex-policemen) just do it the same way, but ask you to log into that system and book an exam at any time those days, but come and do what they. IDK what in particular the government tried to fight, but people can both fool and fulfill these procedures -- only a real human could possibly notice the violation and change how things work.