Hacker News Reader

Comment by agentgumshoe | Hacker News Reader

So... Half the appeal of crypto and Tether & co has been a separation from the current financial system and 'deep state,' yet here we are embracing both with hugs.

The cryptoverse is no place for making sense.

View on HN

“Fascist governments encouraged the pursuit of private profit and offered many benefits to large businesses, but they demanded in return that all economic activity should serve the national interest.”

https://en.m.wikipedia.org/wiki/Economics_of_fascism

Pax Americana

The appeal is in having a choice; having an option to use an alternative (crypto) monetary system, a hybrid, or fiat.

It's just finally meeting reality. Reality is that you have to live in a world of jurisdictions. Somebody somewhere can always put you in jail or take your stuff. You know "I fought the law, and the law won."

I think there were some early adopters with libertarian or just simple "stick it to the man" ideals that believed that, it was never the original position and those who wanted it to be that ended up up disillusioned.

Bitcoin was created with the notion of decentralized control in mind. It was all about having the option to go elsewhere. I'm not sure if the early developers stated a position on secrecy. I find it hard to reconcile the public ledger with any goal of avoiding scrutiny.

That was always a hopeful lie that anti-government types were telling themselves. If you use cryptocurrency while you're in a country, you are subject to that country's laws. The 'cryptoverse' is learning that math is not stronger than guns and prison bars.

https://xkcd.com/538/

Reply on news.ycombinator.com