Re:The Fallacy That Is Cryptocurrency
by slg on Thursday October 17, 2019 @08:09PM
(#21287513)
I think you are focusing on the specifics of that complaint and not the general reasoning behind it. It is a problem if cryptocurrencies need a mature financial system built around them to be usable when one of the primary selling points that people were hyping about cryptocurrencies was the ability to circumvent the current financial system.
[ Parent
| on HN ]
> one of the primary selling points that people were hyping about cryptocurrencies was the ability to circumvent the current financial system
Perhaps you primarily heard relatively uninformed people. "circumvent the current financial system" would probably be called some out of touch with reality woo-woo by many.
Many would instead say decentralization is the primary selling point.
Specifically, the inability of a small group to affect monetary policy, particularly the inflation rate, or to prevent access to the system.