Re:PayPal to allow cryptocurrency buying, selling and shoppi...
by rossjudson on Wednesday October 21, 2020 @07:13PM
(#24853308)
The consequences of bitcoin have not been sufficiently questioned and poked at. Society allows the exchange of bitcoin for real currency. Bitcoin enthusiasts (at least until they are victimized) view the scams, crimes, and damage enabled by Bitcoin as externalized costs (borne by those who are "not up to the task of understanding", which is generally not something you should write immediately after complaining about "intellectual arrogance").
The cost of a Bitcoin speculator's "freedom" is paid by others. Real currency and banking systems actively try to prevent fraud and crime. Bitcoin is...whatever the exact opposite of that is. It exists only to be itself -- provably so.
I offer the perspective: you hold a set of deeply held assumptions that are being actively questioned and poked at by this technology. The level of your reasoning is not up to the task of understanding what happens, even long after the disruption has happened. I recommend investing in education on this topic.
A recent podcast episode worth listening to: https://www.whatbitcoindid.com/podcast/what-is-bitcoin