Hacker News new | past | comments | ask | show | jobs | submit login

Who are you gonna trust? Government or a crypto exchange? As you point out, trusting no one is not an option if you want to transact.

Right now, trusting government looks like the better option. And crypto has done nothing but provide proof.




Always trust a government for money related stuff. Take the USA. The US government doesn't tax much, protects the wealthy and is able to project it's sovereignty all over the world. Billionaires love living and banking in America and don't find the regulatory environment too tough to navigate. Crypto kids love to think that btc and other 'asset' classes are like some prepper version of money. When really nothing beats have a stack of cash in a good bank. Seriously, some generic S&P tracking ETF reinvesting dividends is a better store of wealth than most of the crypto assets. And that whole trustless banking shtick is totally overblown. If you;re going to do business or crime, people are going to want to establish trust first.


The "trustless" aspect of crypto only covered the accounting. Naive people extrapolated this to include the actors exercising inluence over the marketplace without transparency or accountability. And therein lies the basic ingredients for a scam of epic proportions.




Join us for AI Startup School this June 16-17 in San Francisco!

Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: