Quote:
Originally Posted by ulfilias
facilitating a solution to a monetarial trust problem across the internet and it still meets those goals!
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Except it doesn't. Still the best way to make money from crypto is to steal it, and its untraceable so there's no way to recover it. How do you trust a trading partner on the internet when there is no oversight of the transaction? Sure, it writes an immutable ledger of the transaction to the blockchain, but that's worthless when you can't trace where the funds actually went.
The only way to gain mainstream adoption is to have an intermediary who both parties trust (similar to Paypal), who then takes their cut of the transaction but also then has control of the system. You also have players like Bitmain who are able to manipulate the market as they see fit with huge mining resources and their other dirty tricks which is no different to banks and billionaires.
Paypal has solved the internet's monetarial trust problem IMO. Cryptocurrency has created a whole new set of problems, but while it's still (barely) profitable, I'll still play the game.