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by brazzy
849 days ago
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> Are people up to the task of doing all this? No. Anyone who thinks they are is deluding themselves. There is no such thing as a setup that is 100% secure against human error (and nobody is infallible) or a sufficiently motivated and skilled attacker (and there are supreme amounts of motivation here). The core problem is the lack of legal recourse. Anonymous, irreversible, distributed transactions for money are a really fucking stupid idea. |
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That is indeed the crux and the big advantage that traditional fiat currency has. And I believe that this is why crypto as a day-to-day currency won't surpase fiat.
The centralised trust and the government authority and enforcement of fiat is what enables millions of people to pay and transact so easily with strangers.