[adnzzzzZ]

No one needs to explain anything. I transact in it and it works, therefore it is an efficient mechanism for value transaction. If you don't want to participate then fine, but as the person you replied to said, evidently enough people do.

[woodruffw]

Sure. Let me rephrase: being taken seriously requires you to explain &c. This is a public forum; nobody particularly likes it when someone says "this is so" and doesn't offer an intelligible explanation.

With enough incentives (including a large pool of greater fools), you can convince otherwise reasonable parties to use your scheme. But that doesn't make it a financial scheme; that makes it a financialized scam.

[betwixthewires]

I take it seriously. You don't.

That's the thing about this stuff: it's voluntary. That's the point the above commenters are trying to make. We don't need a consensus of you all to do what we want, and if you don't want to be involved, don't.

[woodruffw]

I take it seriously enough; I have a civic interest in harm reduction in this area.

“Voluntary” cuts it when you’re talking amongst yourselves, but again: this is a public forum, not one specially for your interests. I get to voice common sense objections; that’s the point of this place.

[betwixthewires]

Sure you get a voice. We can have a discussion.

But the point being made above is that we need someone's respect, someone's consensus, someone's approval to do what we are doing. And to that I say if you don't like what we are doing don't get involved.

[woodruffw]

> We can have a discussion.

That's all this has ever been!

> And to that I say if you don't like what we are doing don't get involved.

This, of course, only holds as far as cryptocurrencies remain a non-risk to most "main street" investors. But they're creeping towards that group (as the next biggest free pool of capital), and I have a civic interest in those people not losing their shirts.

No man is an island, &c.

[bigbluedots]

You transact in it, it works, and then sometime later everyone's funds are wiped out by hacking, arbitrage and others.