I’m never sure how to approach crypto on these platforms, because it’s rare to get a nuanced take.
I’ve moved past bitcoin to ethereum, I think it answers a lot of the criticisms.
I try not to get caught up on whether or not it’s a currency, store of value, or most other definitions. I just approach it from, is it a good product?
I’m in the middle on things such as money laundering or criminal activity. On one hand, the ledger system makes it incredibly easy to trace back transactions if someone ever messes up. On the other it serves a similar function as cash except you don’t have the physical weight, which is non trivial to transport. I know some criminals have to have used it successfully.
Crypto is hard. There’s so many goddamn scams and stuff like NFTs that could be a good idea if they got the weight of enforcement, but there’s no real enforcement mechanism. We have silly slips of paper that say whether we own things, I don’t think it’s a stretch to say we could make them digital with the right implementation. But those silly slips of paper hold the weight of law behind the. NFTs have no one to enforce anything, thus are useless.
I’m always afraid to open this up on this platform because there’s so many non nuanced takes, and people writing just the same criticisms. I’m hoping to have a good discussion, and I’m open to other opinions on it. But I haven’t found an argument that makes me think Ethereum is a problem or something to avoid. It’s certainly risky, but I think that risk is justified to the level of which I hold it.
I’m never sure how to approach crypto on these platforms, because it’s rare to get a nuanced take.
I’ve moved past bitcoin to ethereum, I think it answers a lot of the criticisms.
I try not to get caught up on whether or not it’s a currency, store of value, or most other definitions. I just approach it from, is it a good product?
I’m in the middle on things such as money laundering or criminal activity. On one hand, the ledger system makes it incredibly easy to trace back transactions if someone ever messes up. On the other it serves a similar function as cash except you don’t have the physical weight, which is non trivial to transport. I know some criminals have to have used it successfully.
Crypto is hard. There’s so many goddamn scams and stuff like NFTs that could be a good idea if they got the weight of enforcement, but there’s no real enforcement mechanism. We have silly slips of paper that say whether we own things, I don’t think it’s a stretch to say we could make them digital with the right implementation. But those silly slips of paper hold the weight of law behind the. NFTs have no one to enforce anything, thus are useless.
I’m always afraid to open this up on this platform because there’s so many non nuanced takes, and people writing just the same criticisms. I’m hoping to have a good discussion, and I’m open to other opinions on it. But I haven’t found an argument that makes me think Ethereum is a problem or something to avoid. It’s certainly risky, but I think that risk is justified to the level of which I hold it.