I’m guessing the answer is that not all crypto is on blockchain, but I actually have no clue.
Someone's sent you a billion dollars in Monero the IRS doesn't know you have - okay. But now when you use it to buy a mansion, won't that be obvious?
Privacy is important to people, and that even extends to privacy from your government. You never know when your government might change from a responsible, fair entity, to a oppressive regime.
If you do buy a mansion with unreported billions and you're buying from a reputable buyer, then you'd expect the government to know about that sale, but if you're stock piling assets in case you need to flee from your government to survive, having anonymous money that's easy to transport is valuable.
> You never know when your government might change from a responsible, fair entity, to a oppressive regime.
Truer words were never spoken. It is hard to get this across to people with the completely understandable "I didn't do anything wrong so nothing can happen to me" attitude.
As Beria said, "Show me the man and I'll find you the crime"...
Only if there was something at least as good to replace it. Cryptocurrency isn't that.
Disruption just for disruption's sake is a Bad Thing.
> NFTs is a really good use case.
Honestly, I still don't see how. None of the explanations make any real sense to me.
The NFT discussion always ends up at "its just a link to a jpeg", when there are NFTs that have nothing to do with images.
> Honestly, I still don't see how. None of the explanations make any real sense to me.
I don't really think NFTs have a real use case, but i can see why it might. It is effectively a digital certificate of authenticity that cannot be faked. But like a physical certificate of authenticity, it is worth as much as the general market would place trust in it. And it isn't much, since collectors of digital goods currently do not value authenticity (realistically) - they value the actual digital good, and thus, a copy is as good as the "real thing".
Therefore, collectors can only really exist for physical goods, and thus NFTs don't actually provide much value, beyond the ability for someone to speculate with it.
Like let’s say my sink keeps leaking so you suggest smashing it. Great, you fixed the leak, but I have no sink now.
Now if you came along and said you’d smash my sink and then replace it with a better sink, I’ll allow it.
People are not hung up on the disruption part. People are hung up on having no sink.
Too many people just want to do things but not actually think anything through. And then they are surprised it fails.