alt Hacker NewsWhy is this a BAD thing?
The goal of cryptocurrency is to have a financial system with none of that pesky government regulation.
Yes, there will be scams but eventually people will learn non-governmental solutions that (my libertarian friends tell me) will be net better than government regulations.
“Bug closed/works as intended.”
> The goal of cryptocurrency is to have a financial system with none of that pesky government regulation.
Except it's just a speculative asset, not an actual financial system, unless you count its use by criminal elements to actually transfer funds.
Ledgers can't scale to allow for a financial system that could serve an entire country either, due to transaction speed issues.
I think there's some good ideas involved - a financial system not under the control of a government, but the current implementation of everything crypto is failing at everything other than financial speculation.