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Yet people will still claim blockchain has no usecase

IshKebab 3y ago
Yep. Nothing here seems to contradict that, unless you have found some magical cryptocurrency that has stable value, is easy enough for my mum to use, doesn't have the security properties of stuffing cash in a mattress (and posting a sign outside your house saying "cash here!"), is properly regulated, allows chargebacks, has fraud protections, etc. etc. No? Didn't think so.
- EGreg 3y ago
  Yes. I have. It’s called USDT. There’s also USDC. And we built blockchain apps that let anyone release their own at https://intercoin.org https://intercoin.org All those other properties you mentioned are not essential to being used as a medium of exchange. People can make their own conflict resolution procedures without involving the daddy government. Your idea of “security properties” is that a bank holds your money, well around the world people get their assets frozen by these banks.
  - IshKebab 3y ago
    > People can make their own conflict resolution procedures without involving the daddy government. Who's going to pay for that? Or enforce it? Can you give me a single example of this? Pure delusion. > around the world people get their assets frozen by these banks Good point, that's another useful feature real banks have that you can't do with cryptocurrency.
    - EGreg 3y ago
      Tell me you don’t live in a repressive economic regime without telling me you don’t live in a repressive economic regime https://www.reuters.com/world/middle-east/lebanon-cbank-lets-depositors-withdraw-150-month-some-old-money-accounts-source-2024-02-03/ https://www.reuters.com/world/middle-east/lebanon-cbank-lets... https://www.latimes.com/archives/la-xpm-2002-jan-11-mn-21962-story.html https://www.latimes.com/archives/la-xpm-2002-jan-11-mn-21962... https://www.aljazeera.com/amp/economy/2021/10/1/venezuela-introduces-new-currency-drops-six-zeros https://www.aljazeera.com/amp/economy/2021/10/1/venezuela-in... https://www.reuters.com/business/finance/novo-banco-yet-decide-frozen-venezuelan-funds-after-ruling-2023-08-10/ https://www.reuters.com/business/finance/novo-banco-yet-deci...
      - mvkel 3y ago
        I mean, yeah. Are most HN entrepreneurs targeting Venezuelan customers?
rchaud 3y ago
Blockchain isn't a ledger for legal tender transactions. It's a ledger for tokens, which then have to be converted into an actual currency whose store of value isn't reliant on some Coinbase ticker.
mvkel 3y ago
If I wanted to convert exactly zero customers, I'd offer crypto payments

Yep. Nothing here seems to contradict that, unless you have found some magical cryptocurrency that has stable value, is easy enough for my mum to use, doesn't have the security properties of stuffing cash in a mattress (and posting a sign outside your house saying "cash here!"), is properly regulated, allows chargebacks, has fraud protections, etc. etc. No? Didn't think so.

EGreg 3y ago
Yes. I have. It’s called USDT. There’s also USDC. And we built blockchain apps that let anyone release their own at https://intercoin.org https://intercoin.org All those other properties you mentioned are not essential to being used as a medium of exchange. People can make their own conflict resolution procedures without involving the daddy government. Your idea of “security properties” is that a bank holds your money, well around the world people get their assets frozen by these banks.
- IshKebab 3y ago
  > People can make their own conflict resolution procedures without involving the daddy government. Who's going to pay for that? Or enforce it? Can you give me a single example of this? Pure delusion. > around the world people get their assets frozen by these banks Good point, that's another useful feature real banks have that you can't do with cryptocurrency.
  - EGreg 3y ago
    Tell me you don’t live in a repressive economic regime without telling me you don’t live in a repressive economic regime https://www.reuters.com/world/middle-east/lebanon-cbank-lets-depositors-withdraw-150-month-some-old-money-accounts-source-2024-02-03/ https://www.reuters.com/world/middle-east/lebanon-cbank-lets... https://www.latimes.com/archives/la-xpm-2002-jan-11-mn-21962-story.html https://www.latimes.com/archives/la-xpm-2002-jan-11-mn-21962... https://www.aljazeera.com/amp/economy/2021/10/1/venezuela-introduces-new-currency-drops-six-zeros https://www.aljazeera.com/amp/economy/2021/10/1/venezuela-in... https://www.reuters.com/business/finance/novo-banco-yet-decide-frozen-venezuelan-funds-after-ruling-2023-08-10/ https://www.reuters.com/business/finance/novo-banco-yet-deci...
    - mvkel 3y ago
      I mean, yeah. Are most HN entrepreneurs targeting Venezuelan customers?

rchaud 3y ago

Blockchain isn't a ledger for legal tender transactions. It's a ledger for tokens, which then have to be converted into an actual currency whose store of value isn't reliant on some Coinbase ticker.

mvkel 3y ago

If I wanted to convert exactly zero customers, I'd offer crypto payments