Thread

1. pj_mukh · 1790970483 · focus · HN ↗

   I know nothing about crypto, but wasn't one if its selling points that its "digital gold" for people without stable fiat currencies?

   You send aid to a drought-stricken farmer to some sub-saharan region with ample cheap data but no (stable) banks, how...are they supposed to store the money?

   1. rfghy · 1790970933 · focus · HN ↗

      Crypto was DoA as the architect had a delulu view of humanity.

      1. mt_ · 1790972181 · focus · HN ↗

         So the best realistic alternative is what, AWS IAM for autonomous economic actors?

         1. zbentley · 1790994431 · focus · HN ↗

            I think “autonomous economic actors” is similarly, to quote GP, delulu.

            Currency as a tool is inextricable from currency as a representation of interconnected states and state coercive power about what can be done with it. The maximum-autonomy other end of the spectrum leads to feudalism—not equivalent to feudalism but actual feudalism.

            Low-currency-autonomy systems like we have can also produce bad outcomes. But sprinting for the other end of the spectrum guarantees them.

            1. rfghy · 1791038373 · focus · HN ↗

               Spot on

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