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Crypto has no legal business model and no road to one. AI does.

zarzavat 2y ago
Depends on your worldview doesn’t it? For me, having a transaction system that isn’t controlled by either my own government or corporate America is useful. If it’s not useful to you then you don’t have to use it.
- can16358p 2y ago
  This! It's unbelievable how underrated this whole view is especially in a place like HN where I'd expect more liberal people. Even this property of crypto alone is a single reason to support it, let alone all the other tech that can be built on top of it.
  - kitkat_new 2y ago
    anarchism doesn't maximize peoples freedom
    - eterps 2y ago
      Anarchism rejects hierarchies and centralized power in favor of maximizing individual liberty.
      - deleted 2y ago
        [deleted]
      - kitkat_new 2y ago
        it doesn't really maximize individual liberty, ultimately almost anyone would end up with less liberty in practice, except for people choosing to centralize power i.e. rejecting anarchism
- lern_too_spel 2y ago
  The rest of the people in your country don't want it because if your money is stolen, there is no way to get it back. If it's detrimental to society, I will make laws against it. That's how government works.
  - zarzavat 2y ago
    It’s the same with cash isn’t it? Non-reversible payments are the rule not the exception. Even bank transfers are non-reversible in general.
    - lern_too_spel 2y ago
      If the money was obtained illegally, the government can get the money back for the victim. This is not true for unregulated international money transfer. That's why North Korea and Russia like to promote cryptocurrency usage among Western rubes.
latchkey 2y ago
When HN comments like this, it always reminds me of this headline... "Cargo ship owned by JPMorgan Chase seized by US with 20 tons of cocaine" https://edition.cnn.com/2019/07/10/business/jpmorgan-msc-gayane-cocaine-seizure/index.html https://edition.cnn.com/2019/07/10/business/jpmorgan-msc-gay...
can16358p 2y ago
I've donated to unfortunate via crypto where there was literally no other way of transferring funds in my situation. Thanks to you, I've just learned that donating money to people in need is illegal.
bitnorbert 2y ago
Would you say that Coinbase, listed on Nasdaq, is a criminal enterprise?
- epgui 2y ago
  Most things that are not criminal have no legal basis.
- lern_too_spel 2y ago
  Coinbase's business model is to provide a legal service to [greater] fools playing negative sum games with each other.

Depends on your worldview doesn’t it? For me, having a transaction system that isn’t controlled by either my own government or corporate America is useful. If it’s not useful to you then you don’t have to use it.

can16358p 2y ago
This! It's unbelievable how underrated this whole view is especially in a place like HN where I'd expect more liberal people. Even this property of crypto alone is a single reason to support it, let alone all the other tech that can be built on top of it.
- kitkat_new 2y ago
  anarchism doesn't maximize peoples freedom
  - eterps 2y ago
    Anarchism rejects hierarchies and centralized power in favor of maximizing individual liberty.
    - deleted 2y ago
      [deleted]
    - kitkat_new 2y ago
      it doesn't really maximize individual liberty, ultimately almost anyone would end up with less liberty in practice, except for people choosing to centralize power i.e. rejecting anarchism
lern_too_spel 2y ago
The rest of the people in your country don't want it because if your money is stolen, there is no way to get it back. If it's detrimental to society, I will make laws against it. That's how government works.
- zarzavat 2y ago
  It’s the same with cash isn’t it? Non-reversible payments are the rule not the exception. Even bank transfers are non-reversible in general.
  - lern_too_spel 2y ago
    If the money was obtained illegally, the government can get the money back for the victim. This is not true for unregulated international money transfer. That's why North Korea and Russia like to promote cryptocurrency usage among Western rubes.

latchkey 2y ago

When HN comments like this, it always reminds me of this headline... "Cargo ship owned by JPMorgan Chase seized by US with 20 tons of cocaine" https://edition.cnn.com/2019/07/10/business/jpmorgan-msc-gayane-cocaine-seizure/index.html https://edition.cnn.com/2019/07/10/business/jpmorgan-msc-gay...

can16358p 2y ago

I've donated to unfortunate via crypto where there was literally no other way of transferring funds in my situation. Thanks to you, I've just learned that donating money to people in need is illegal.

bitnorbert 2y ago

Would you say that Coinbase, listed on Nasdaq, is a criminal enterprise?

epgui 2y ago
Most things that are not criminal have no legal basis.
lern_too_spel 2y ago
Coinbase's business model is to provide a legal service to [greater] fools playing negative sum games with each other.