Hacker News Reader

>I understand that you're joking here but the amount of good the dollar does so clearly surpasses the harm

This is the problem with your view of crypto, you fail to see the good

Crypto is not an effective currency. Currencies need 3 things to be effective: store of value, unit of account, and medium of exchange. Crypto fails at storing value and being a medium of exchange. It's value is completely unpredictable and transferring it is slow, costly, and annoying. Many of these problems could conceivably be solved, but without government backing crypto will never be a good store of value, as macro economic policy is required to keep currencies stable.

You’re being selective.

Crypto transfers are slow? jesus, did tou ever do a wire? have you seen moving something take days? compared to that minutes is instant.

You’re gonna tell me about CC processing next. Hate to break it to you but when you’re paying with a CC you’re not actually paying. An auth happens but the real payment happens when the transaction is settled (days later). So: days vs minutes in BTC case. wow, crypto sooo slow.

Macro economic policy? Oh yeah. That is working really really well. The government working to protect you.

Crypto is more than currency at this stage, you argument solely applies to bitcoin.

Reply on news.ycombinator.com