[dmitriid]

> Some coins like tezos and cardano or a similar coin will be a creative destructive force for many institutions. They allow for truly decentralized authority. Think passports without an issuing country. Think money without a central bank.

These are all just words that amount to nothing but marketing. To be all that these coins need to painstakingly re-create all the institutions that make passports, money etc. possible: laws, courts, trust systems, enforcement etc.

There's literally nothing in the "fundamental societal concepts" that they modernise.

[emteycz]

I remember thinking thoroughly about stuff like this in 2009 as I was very interested in political and economical philosophy back then - and back then the core idea of Bitcoin - a token that can be sent to anyone, semi-anonymously, completely out of governmental control - would be laughed out of the room, a silly theory pondered by Austrian school economists. That is a fundamental societal concept it introduced and tested at large, and fundamental development of the society.

[dmitriid]

> a token that can be sent to anyone, semi-anonymously, completely out of governmental control - would be laughed out of the room, a silly theory

You realize that this a) doesn't constitute a fundamental societal concept and that b) sending secrets outside of government control isn't even a novel idea?

> and fundamental development of the society.

There's still nothing new or fundamental introduced by cryptocurrencies, and they rely on existing concepts old as time to even function outside their bubble.