Web3 and crypto skepticism is growing and people are finally starting to listen

Re:Web3 and crypto skepticism is growing and people are fina... by HeckFeck on Monday January 24, 2022 @11:46AM (#30060152)

I don't think it is moral to outlaw a new technology just because some criminals are using it. There is nothing inherently criminal with the technology. Similar to nuclear, guns, computers, cars, anything. Someone is always going to sharpen a stick and use it for murder. Should we assume that everyone who collects sticks is a murderer, and therefore we should outlaw stick collecting (enforced by "good" stick wielders)?

If you object became more criminals are using it, then we simply need to promote its use among B2B and B2C. A trustless and decentralised electronic currency is surely a freedom-enabling idea and should be promoted. It has long been the dream of cryptopunks and cryptographers.

Lots of crime is facilited by, and done in the name of fiat currency too. BTC can limit that. It's just a currency and one consciously designed to avoid the inherent flaws of fait.

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Re:Web3 and crypto skepticism is growing and people are fina... by boringg on Monday January 24, 2022 @01:42PM (#30061991)

I'm not saying that -- I am saying that isn't a sufficient reason to support crypto. The costs are greater than the gains if that was the sole function.

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Re:Web3 and crypto skepticism is growing and people are fina... by HeckFeck on Monday January 24, 2022 @06:02PM (#30065351)

My apologies for mistaking your point.

I agree it wouldn't be a sufficient reason, but I think it is a step in the right direction and an illustration of how it enables freedom.

Your wallet is a ten word phrase/a private key. This is something we haven't seen before, money can move just like that. All one needs is internet access.

So yes, totalitarians will have a stranglehold under the current system, but it certainly loosens their grip when we wrest the money supply from their hands.

[ Parent | on HN ]