[ryanwaggoner]

Average person on the street knows almost literally nothing about how money of any kind works. They don’t understand fractional reserve banking, marginal taxation, compound interest, present / future value of money, marginal utility, double entry bookkeeping, annuities, amortization, dividend yields, etc, etc, etc. It’s exactly the same with technology and cars and on and on. Seriously, people do not get it. And yet the systems mostly work. We’re actually pretty good at taking complicated things and making them usable. Do you think people have the foggiest idea what happens under the hood with Apple Pay? There’s no way that the future of mass market cc will look anything like it does now.

From where I stand, there is zero reason that crypto-currency couldn’t be the backbone of all money in a few decades. It’s starting to feel inevitable.