Hacker News Reader

Comment by lern_too_spel | Hacker News Reader

Crypto has no legal business model and no road to one. AI does.

Depends on your worldview doesn’t it? For me, having a transaction system that isn’t controlled by either my own government or corporate America is useful. If it’s not useful to you then you don’t have to use it.

This!

It's unbelievable how underrated this whole view is especially in a place like HN where I'd expect more liberal people.

Even this property of crypto alone is a single reason to support it, let alone all the other tech that can be built on top of it.

anarchism doesn't maximize peoples freedom

Anarchism rejects hierarchies and centralized power in favor of maximizing individual liberty.

it doesn't really maximize individual liberty, ultimately almost anyone would end up with less liberty in practice, except for people choosing to centralize power i.e. rejecting anarchism

The rest of the people in your country don't want it because if your money is stolen, there is no way to get it back. If it's detrimental to society, I will make laws against it. That's how government works.

It’s the same with cash isn’t it? Non-reversible payments are the rule not the exception. Even bank transfers are non-reversible in general.

If the money was obtained illegally, the government can get the money back for the victim. This is not true for unregulated international money transfer. That's why North Korea and Russia like to promote cryptocurrency usage among Western rubes.

I've donated to unfortunate via crypto where there was literally no other way of transferring funds in my situation.

Thanks to you, I've just learned that donating money to people in need is illegal.

When HN comments like this, it always reminds me of this headline...

"Cargo ship owned by JPMorgan Chase seized by US with 20 tons of cocaine"

https://edition.cnn.com/2019/07/10/business/jpmorgan-msc-gay...

Would you say that Coinbase, listed on Nasdaq, is a criminal enterprise?

Most things that are not criminal have no legal basis.

Coinbase's business model is to provide a legal service to [greater] fools playing negative sum games with each other.

Reply on news.ycombinator.com