I was wondering what viewpoints and opinions this community has when it comes to cryptocurrency.
Personally, I’m not against it, but I’m not for it either. I like the concept of bringing back cash anonymity, and also decentralization (obviously). Although I don’t think it will be viable for at least another decade.
imo i actually hate the idea of a public crypto currency
people think that the government having their hands on the levers of a fiat currency is a bad thing, but it’s an incredibly useful property to make sure that we can stabilise things and push away from recession etc! without those levers we can end up in a spiral a lot easier
i think though that where these problems don’t exist is behind the scenes: what if the whole world replaced SWIFT with a private blockchain? maybe a wire transfer wouldn’t take 5 days and cost like $20 (or maybe it would because it’s probably not the technology that makes these things slow)… in this case, you have a known group of semi-trusted actors (international banks), which is actually a perfect set of properties for a blockchain: they’re all able to cooperate but don’t implicitly trust, and can verify each other but mainly use blockchain so they can all automatically agree
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but that kinda defeats the point of a central authority having control: the value of any currency is entirely based on what you can use it for… unless you tied their value in a way that the government regulates - eg to have a banking license you must swap USD for eUSD and visa versa on a 1:1 basis without fees (perhaps they burn eUSD to get new USD; IDK - you can’t oversupply. it gets tricky)… anyway, beside the point: regular transactions is exactly what the government needs some control over
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