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Use the a similar protocol with better properties (less energy consumption, better transaction usability) and start from zero. Also, I'm not sure if a radical
by moritzwarhier 1y ago
Use the a similar protocol with better properties (less energy consumption, better transaction usability) and start from zero.
Also, I'm not sure if a radical lack of regulation / full decentralization is a good thing when we are talking about money.
In my opinion, money should be regulated by governments.
But this discussion tends to escalate and the arguments have been made ad nauseam, so I'm tuning out here, sorry.
- amiga386 1y ago> money should be regulated by governments It should, but nobody can quite agree on exactly what should and shouldn't be allowed. Fraud, everyone agrees no. Porn, drugs, guns, gambling, foreign work, etc. everyone has a different opinion; governments abuse their power to prohibit transacting "harmless" goods/services, the people who transact those things reject the prohubition and turn to grey and black markets, then suffer from the lack of strong regulation therein.
- moritzwarhier 1y agoMy point was not primarily money from illegal activities. While you are probably right about most of the liquidity in BTC coming from illegal activities (with the type of illegality often being secondary, by means of being almost universally agreed on). I was getting at the valuation and the value extraction that is derived solely from the sigmoid-like climb of value in cryptocurrency, which is driven by speculation on BTC as an asset, not just by increasing adoption for regular economic transactions backed by external value. Sure, the more traction and trust this system gains, the last part of my sentence (BTC backing "real value") might increasingly become true, making my argument moot. But the almost feudalistic problems of "initial" allocation are not unimportant, in my view.