> this tech isn't a good idea
Bitcoin is politically neutral. Wall Street isnt.
Bitcoin is politically neutral. Wall Street isnt.
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"
I personally don't particularly agree with central banks being a utility of commercial banks, but I also don't believe that creating a digital deflationary asset that cannot allow intermediaries to solve human problems like fraud is the answer.
It seems infantile to me to suggest otherwise.
Nice way to preemptively disregard any comment that might suggest otherwise.
But it's a good point with the "solving human problems" remark - the whole thing tries to avoid human tendencies, while it is meant to solve purely human-made problems.
You can very simply devise an insurance contract that compensates you for any such losses you incur.
Of course such an insurance is expensive, so most people wouldn't do it, but it's certainly possible.
This is a good read:
The Blocksize War: The Battle Over Who Controls Bitcoin's Protocol Rules https://g.co/kgs/4axiTg
Your point (if it even has much value) does not affect them. US banks and stocks are strictly better than BTC as a place to park their USD as American citizens. Unless they wanna gamble.
Not when a simple letter from government gets your accounts seized incorrectly. Gigantic problem to get the funds back without high-priced legal help. Yet bitcoin has not been seized from me.
And independent of if Bitcoin is or not: the 'how it's used' matters because the theory matters less.
While people like to claim there is some anti-censor magic, it's not really true when block space is full. There is nothing in the code to penalize miners for ignoring a particular transaction for weeks or forever.
Bitcoin was an amazing advancement and I hope it can grow into solving some of these apparent challenges.