Does programmatic money not sound exciting to you? I see way more skepticism than support on HN but it surprises me. Can you really not picture any uses for a financial system with Turing completeness?
Huh? That's not what "programmatic money" means. You're confusing it with digital currency.
Programmatic money means you can define code/program with the money itself. In a trivial case I could easily program the money (called a smart contract) to pay you $1 every day. I could put $1000 in that contract and you could have near-total confidence of that payout schedule. The code itself is a property of that money, and its execution is enforced by the same system that secures the overall ledger.
The government needs to be in control of the money supply. Monetary and fiscal policy are important levers for maintaining the health of our economy. The government uses money to bolster trade, issue debt, maintain a high standard of living, etc.
Crypto is a bunch of investors and engineers that think that they should be in charge rather than our elected governments. It's not even a geniocracy since it rewards only early investors. It's an oligarchy of the lucky few that think they should have more leverage than governments and the populace. It disenfranchises the government's ability to help the poor, underserved, and disadvantaged.
Crypto not from the government is dangerous.
I predict that as this plays out more governments will move to shut it down.
While clearly an unpopular comment, the "investors" would like you to think that somehow the risks in crypto are any better than the comparably stable government system.
So rather than systems with oversight, faces, and names attached to them, you would prefer an entirely programmatic system where all transactions are final and irreversible which is not beholden to any intervention? There’s an old adage about how all programmers hate technology or something like that and I worry that we are flying too close to the sun here with the crypto hubris.
The latest wave of "investors" aren't programmers.
But yeah, the trust issue illustrated by your comment speaks volumes. I just wish people didn't think our problems were as easy as "sprinkle a little tech on it."
> So rather than systems with oversight, faces, and names attached to them, you would prefer an entirely programmatic system where all transactions are final and irreversible which is not beholden to any intervention?