[echelon]

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.

[anotha1]

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.

[voldacar]

> The government needs to be in control of the money supply.

Not interested in bureaucrats determining my purchasing power, sorry

[uncomputation]

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.

[anotha1]

> all programmers hate technology

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."

[voldacar]

> 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?

Yes, correct.

[joshsyn]

What good is a system, if it only benefits a few? And levers are used at the wrong time, benefits only a few people?

[echelon]

Antarctica will be happy to have you. /s

But seriously, functional governments are what hold society together. We can't have a system without levers.

[voldacar]

Functional societies existed long before central banking and costless money creation

[anotha1]

Straw man.

Those societies also existed alongside slavery and tons of other bad shit. So how does that change the value of a functional government?

[voldacar]

Central banking caused the end of slavery? now that's a hot take

[anotha1]

Have you heard of blood diamonds? I bet ETH solves that problem with a ledger /s