[JumpCrisscross]

> nothing legal it can do that something else can't do better

Eh, Treasuries should probably be traded on a blockchain. Cryptocurrency is nonsense. But the tech has legs. It just needs to, ironically, clear its way of the crypto/web3 crowd first.

[SI_Rob]

I tend to think highly of most of the comments I see from you man, but you are quite confused about how this stuff works if you believe that the pay-to-play aspect of a cryptocurrency can be divorced from the blockchain used to track it. They are no more separable from one another than front is from back or up is from down.

A blockchain without the economic carrot-stick power to protect its own integrity and internal rules, power that comes from aligning the behavior of otherwise unrelated and even mutually antagonistic custodial participants by incentivizing their common interest in getting rich (or at least not losing their existing wealth), is no more than a database with superfluous "decentralization theater" yak shaving bolted on.

If defecting from the game doesn't cost you a meaningful penalty (and such cost is defined by a fixed unit of measure, in order to distinguish in-game gains from losses) then you are not compelled to follow its rules except by your own conscience. This would be noble, but it would not be a blockchain.

[JumpCrisscross]

This is fair, I should have said could instead of should.

[nradov]

What's the point of trading on a blockchain? The existing securities settlement process seems to be working fine.

[lokar]

No serious person wants a financial system based on “code is law”