3 ms·
Providing services is not "broken windows." Bitcoin isn't going to get me a mortgage or a business loan. Or have a real live person to yell at when I have an is
by drzaiusapelord 13y ago
Providing services is not "broken windows." Bitcoin isn't going to get me a mortgage or a business loan. Or have a real live person to yell at when I have an issue. Or provide a level of consumer protection for me. Or give me an entity to sue when I feel wronged.
>Creating/sustaining an inefficient financial industry [1] is a bad use of society's resources.
Not only are you being reductionist and naive, that statement is 100% opinion. Its not "inefficient" to have banks and the services they provide. That's just your pie-in-the-sky take here.
- mrb 13y agoI am not calling all financial services inefficient/useless. Obviously there is value in providing loans, customer support, etc. But at least some activities of the traditional financial sector can be made more efficient by crypto-currencies, hence the value they provide to society. (Again I refer you to this one example: https://news.ycombinator.com/item?id=6782706 https://news.ycombinator.com/item?id=6782706)