Re:A faster, more efficient cryptocurrency
by root_axis on Tuesday February 19, 2019 @12:59AM
(#19196946)
> Every other currency is either backed by men with guns?
So what? Men with guns are also the foundation of property rights, law and order, and national sovereignty; they are not an extra cost of fiat currency, they underpin the government's ability to maintain order and structure within society. I shouldn't have to explicitly point this out.
> transactions are reversible (fiat)
Cash payments are not reversible. Reversible payments are also a feature that nearly everyone wants.
> spend a roughly proportional amount of resources securing it (e.g. gold).
Gold is not a currency.
> that's only because it can operate with less assumptions (no identities), which I see as a feature
Untrue. A centralized anonymous payment system is technically possible, the limitations are strictly legal.
So what? Men with guns are also the foundation of property rights, law and order, and national sovereignty; they are not an extra cost of fiat currency, they underpin the government's ability to maintain order and structure within society. I shouldn't have to explicitly point this out.
> transactions are reversible (fiat)
Cash payments are not reversible. Reversible payments are also a feature that nearly everyone wants.
> spend a roughly proportional amount of resources securing it (e.g. gold).
Gold is not a currency.
> that's only because it can operate with less assumptions (no identities), which I see as a feature
Untrue. A centralized anonymous payment system is technically possible, the limitations are strictly legal.