> When the price tag is “everything you own”, how is this an improvement? Who wants to give over their financial life to a computer program?
You can strike out "financial" and that's already the realty we're living in. We got lucky that Y2K was not an issue today. We wouldn't probably be able to fix enough code and nowadays much more is under direct computer control than back then.
Nobody "wants" that but it happens gradually. With crypto, it didn't happen organically but crypto blasted onto the scene from the side of complete digitization. Looking at that, it's easy to say that nobody would want that but while you're looking this way, traditional finance is creeping towards complete digitization as well, just behind your back.
> This aspect of crypto is a 1960s paranoid computer fear come to life, and somehow it’s often presented as an improvement over the existing system of human checks and balances.
I'm not saying that crypto is an improvement as it is now. Nor that it will ever be (it might but I have my doubts). But what you're missing is that crypto is complete wild west, like traditional finance was maybe in 1900. The whole history of finance is a sequence of fuckups and laws and regulations that were imposed to prevent similar fuckups to occur and we still got the 2007 financial crisis, after 150 years of improvements.
I can try to stay as far away from crypto as possible but as I said in my previous post, there are aspects that are interesting even if most of it is completely nuts.
You can strike out "financial" and that's already the realty we're living in. We got lucky that Y2K was not an issue today. We wouldn't probably be able to fix enough code and nowadays much more is under direct computer control than back then.
Nobody "wants" that but it happens gradually. With crypto, it didn't happen organically but crypto blasted onto the scene from the side of complete digitization. Looking at that, it's easy to say that nobody would want that but while you're looking this way, traditional finance is creeping towards complete digitization as well, just behind your back.
> This aspect of crypto is a 1960s paranoid computer fear come to life, and somehow it’s often presented as an improvement over the existing system of human checks and balances.
I'm not saying that crypto is an improvement as it is now. Nor that it will ever be (it might but I have my doubts). But what you're missing is that crypto is complete wild west, like traditional finance was maybe in 1900. The whole history of finance is a sequence of fuckups and laws and regulations that were imposed to prevent similar fuckups to occur and we still got the 2007 financial crisis, after 150 years of improvements.
I can try to stay as far away from crypto as possible but as I said in my previous post, there are aspects that are interesting even if most of it is completely nuts.