Re:US SEC sues Coinbase, one day after suing Binance
by davidgerard on Wednesday June 07, 2023 @05:33AM
(#36224744)
this thread is about your claim:
> Then a bunch of crypto anarchists showed up
you've just posted a pile of opinions that aren't about the actual history, which you were just wrong about
Re:US SEC sues Coinbase, one day after suing Binance
by dcow on Wednesday June 07, 2023 @02:25PM
(#36231150)
Care to explain? FWIW I was around when crypto was born and know very well the initial scene and motives. The crypto anarchists showed up pretty quickly, sure, but they weren't the seeds of the technology.
That’s the “anarchy” the paper refers to.
In the paper, the goal was not to topple governments. It was to build a digital cash equivalent where the payment processing happened in a distributed and ultimately trust-less “anarchist” manner. Thus allowing people to transact as they do in cash, but digitally.
All this anti-regulation no laws style of anarchist stuff is downstream. Sure it’s adjacent, but also easily conflated.
Anyway, to be super clear, being resistant to the rule of law is a very different property than being resistant to centralized control.
Cash is decentralized.
Credit, debit, ACH, are centralized.
Crypto is decentralized.
All are subject to the rule of law. But only centralized transactions can be manipulated without coercion or use of force against a one of the parties involved (if they are unwilling to abide).
I don't know any technology that fundamentally cannot have laws created governing its use. It’s just not possible to prevent someone from legally regulating something. But it is possible to design systems that don't require 3rd parties to mediate transactions and do require an actual authoritative monopoly on violence to manipulate, as we’ve seen with cash and as is the case with BTC.