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Fees are negligible if you move to a L2 (even on L1s like Solana). Crypto is also permissionless and spending can be easily controled via smart contracts
by spaceman_2020 8mo ago
Fees are negligible if you move to a L2 (even on L1s like Solana). Crypto is also permissionless and spending can be easily controled via smart contracts
- zinodaur 8mo agoPermissionless doesn't mean much if it's not anonymous (central authority wants to stop you from doing x; sees you doing x with non-anonymous coin, punishes you). I understand the appeal of anonymous currencies like Monero (hence why they are banned from exchanges), but beyond that I don't see much use for crypto
- spaceman_2020 8mo agoLiterally described the use case - a medium of exchange between agentic entities at massive global scale
- zinodaur 8mo agoYeah, but doing it with non-anonymous crypto just seems worse in every way than doing it with a database?
- spaceman_2020 8mo agoFail to see how you can do it with a database with existing financial rails - the costs are too high
- zinodaur 8mo agoAll the same financial rails apply to crypto - enforcement is just lagging a bit. E.g., you could do what World of Warcraft does - Gold can be earned/exchanged in game, and can also interact with the real world in nebulous ways. Using the hyper advanced technologies of relational databases and ignoring financial legislation, they have enabled ultra-high-throughput microtransactions, with the added benefit of not spraying the public ledger on to the desk of every law enforcement agency on the planet.