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by sweetbitter
1522 days ago
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I associate "crypto" with "low fees" and "strong sender anonymity" and "transaction privacy". Really, I view it, especially those like Monero, as humanitarian money- something to act as our digital cash in the absence of sensible governments who would adopt central-but-private systems like GNU/Taler. Disclaimer: I don't hold any cryptocurrency unless I need to buy something with it :) |
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Well, sure, that's because it's not doing anything. It can't be used for any of the purposes that money serves -- unless you live next to a matcha cafe in Berkeley or whatever -- and so it inevitably begets a bank/payment-network transaction in order to actually be spent or saved. Or, as you put it:
> I don't hold any cryptocurrency unless I need to buy something with it :)
[...]
To be clear: I'm not an anti-crypto person, and I think it's as stupid to rage against a technology as it is to rage for it. I believe in the promise of digital cash. But first the candidate technology needs to satisfy the needs it's trying to serve, and none of the current breed of digital currencies (or none of which I'm aware) seem capable of doing that.