37 ms·
Is there anything positive at all in the Crypto industry? CO2 emissions, fraud, attacking democracy is on the negative side. What’s on the positive? Why is i
by startupsfail 2y ago
Is there anything positive at all in the Crypto industry?
CO2 emissions, fraud, attacking democracy is on the negative side. What’s on the positive? Why is it still legal?
It feels like Crypto at the systemic level is an open vulnerability not an asset. It’d be nice to have this vulnerability to get fixed.
- mlyle 2y agoSimplified movement of value across international borders, avoiding excessive exchange fees. Mind you, I don't think in its present form it is worth it (POW is intrinsically power-intensive; a lot of things about the banking system that seem like bugs are actually features; etc). But I think A) value stored in tokens, and B) decentralized ledgers and nonrepudiation are things that are may want to have as core financial services in the future.
- throw161024 2y agoFor me, it's the ability to send money to or receive money from anyone, anywhere, without the government's or bank approval.
- cypherpunks01 2y agoI think the most positive benefits are people using it to protect themselves in countries under authoritarian rule and/or economic collapse. Low-fee remittances are a lesser but still very positive use-case. There are genuine large benefits to people in these situations. See also: Why I'm less than infinitely hostile to crypto https://www.astralcodexten.com/p/why-im-less-than-infinitely-hostile https://www.astralcodexten.com/p/why-im-less-than-infinitely...
- tucnak 2y agoIf it weren't for crypto, zero-knowledge technology would have been lame