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by pauselaugh
962 days ago
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the two core, dare i say intrinsic, values of cryptocurrency are 1) immutable, public ledger requiring no single point of authority and 2) that authority having zero bias or regulatory oversight on any transaction outside of its protocol. 1's value being a traceable permanent record and 2's value is no direct stepping in between a transaction or control over a holding. both of those, to many skeptics, are actually negatives and give more control and power to sovereign entities, not less. i am not including the pseudoanonymity of it for two reasons, 1) depending on the crypto, currently the level of sophistication to transact in a manner that any given address cannot personally identify you requires massive amounts of personal responsibility / knowledge and most importantly to most people, effort and 2) because the major way the current digital fiat channels handle the transaction volumes that they do is that they're built on a foundation of authentication linking to personal identification, and so the theorycraft of "sure it has a huge ecological footprint but it could replace the many-many-many times larger ecoprint of the entire fiat banking system" is disingenuous to me because in order to actually replicate that, any main network would be a duplicate of the current authentications backed by men with guns, it would just allow that sidechannel of p2p to have it's wild west. i do find it a touch humorous that those who want to shatter the fiat-police complex are quick to engage the legal system to protect and recoup from bad actors. |
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