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Had Satoshi known the impact his innovation would have had on the world, all said and done, I bet he would have chosen to keep it under covers.
by nikkwong 1y ago
Had Satoshi known the impact his innovation would have had on the world, all said and done, I bet he would have chosen to keep it under covers.
- superkuh 1y agoPeople have been kidnapping other people to force them to give up their valuables for millennia. It's far from a new or unique thing in this context.
- deleted 1y ago[deleted]
- anonymousiam 1y agoTrue, but crypto is easier to launder. I feel safer with my money at a brokerage or a bank.
- lazide 1y agoNormal banks can also recall transactions.
- DennisP 1y agoTo some extent. Wire fraud happens pretty often, and after a day or so the money's usually unrecoverable after going through several foreign countries. Home real estate and B2B transactions have been particular targets.
- baby 1y agoYou can leave your crypto at a bank
- nikkwong 1y agoThis comment must be parody. Certainly you can't be serious. In the off chance hat you are, obviously, I must state. Crimes happen as a result of incentive structures. If there were a huge aftermarket for stolen iPhones, iPhone thefts would increase (something that Apple obviously realizes and combats). Because of crypto, the incentive to kidnap people with crypto wealth has surfaced as a real problem. These are kidnappings that, obviously, wouldn't exist if the crypto hadn't existed at all. My larger point is; although crypto has made some people quite wealthy, it's mostly disenfranchised a larger part of the broader society. It's essentially been a wealth transfer from stupid people to opportunistic people. Has wealth been created? I'd argue that although some has been generated, it's a pittance in comparison to the amount of press crypto gets, and the amount of wealth that has been unfairly distributed from the stupid to the opportunistic.
- superkuh 1y agoNot parody. Although all these breathless stories pretending this is unprecedented sure are. >These are kidnappings that, obviously, wouldn't exist if the crypto hadn't existed at all. And would Frank Sinatra, Jr. never have been kidnapped if money didn't exist? >It's essentially been a wealth transfer from stupid people to opportunistic people. This is not entirely wrong. But it also describes the stock market. We allow the stock market because of it's obvious usefulness. The same is true for a non-centralized currency like bitcoin in a fractured world where nationstates keep going rogue and breaking down.
- greatgib 1y agoThe problem is not the crypto, that kind of things develop is happening for everyone easily if you are known to be rich. The real problem is that developed countries that used to be safe enough are becoming as unsafe a mexico.