• traches@sh.itjust.works
      link
      fedilink
      arrow-up
      2
      ·
      1 year ago

      But does it though? A blockchain is the ultimate zero tolerance policy. Lost your password? Grandma gave the house to a scammer? Too fucking bad

      • democracy1984@lemmy.world
        link
        fedilink
        arrow-up
        0
        ·
        1 year ago

        Cryptocurrency is basically like digital cash. No one can control how you spend it, or take it away. But you can’t undo transactions without tracking down the recipient, and getting them to give it back. If you don’t trust anyone, cash and crypto are the only real ways to pay for stuff.

        • fubo@lemmy.world
          link
          fedilink
          arrow-up
          0
          ·
          edit-2
          1 year ago

          Cryptocurrency is basically like digital cash.

          Cash doesn’t leave you holding worthless numbers when the founders cut and run.

          Well, it does in some economies, but not the ones that cryptocurrency advocates actually choose to live in. If you live in Menlo Park or Toronto or Phoenix or Dublin, you live in conditions that would not be possible without a stable “real money” economy.

          • democracy1984@lemmy.world
            link
            fedilink
            arrow-up
            0
            ·
            1 year ago

            This is exactly the same thing as cash. If you buy a major currency, like usd, euro, bitcoin, ethereum, etc, then it will be much more stable than some random currency. Would you trust a cash currency that was created by some random dude in an alleyway?