Re:Cryptos can't fix societal, political or economic problems
by oleganza on Friday November 26, 2021 @04:44AM
(#29348771)
You decide to frame it as "remove protections", while I frame it "here's thing with different tradeoffs". Did cars arrive on the streets with "protections removed" because they could go faster? Or we just accepted different tradeoffs and had to adjust design of the streets, cars and behaviour to improve safety of the new tech?
Of course, freedom comes with responsibility. If no one can take your coins easily, you won't be able to recover them easily from someone else either. That's an alternative compared to super-centralized hierarchical finance. People often imply that one is strictly worse than another without considering both advantages and disadvantages.
Crypto IS higher on the radar because it's easier to pull off a fraud and send it through a bitcoin mixer. That's simply proven by criminals preferring crypto.
Bank money mules are a lot harder to accomplish if you're not a criminal organisation. Additionally, the money is more easily recovered through banks and banks should return your money from fraud in many cases: Eg. https://www.citizensadvice.org.uk/debt-and-money/banking/ban...