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Comment by boc

Blockchain is essentially useless.

You need legal systems to enforce trust in societies, not code. Otherwise you'll end up with endless $10 wrench attacks until we all agree to let someone else hold our personal wealth for us in a secure, easy-to-access place. We might call it a bank.

The end state of crypto is always just a nightmarish dystopia. Wealth isn't created by hoarding digital currency, it's created by productivity. People just think they found a shortcut, but it's not the first (or last) time humans will learn this lesson.

parent boc 1 year ago

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