undefined | Better HN

0 pointsfock5y ago0 comments

> (1) substitute "people" for a "clusters of people with insular trust". Most of these people can not setup an account, but some of them can. They collectively managed their internal accounting and only need to go to the blockchain when a settlement with someone from the outgroup needs to be done. What is so hard to understand about this?

Great, now we are at the 10k libertarian tribes, which conveniently want to impose a great cost (energy-wise - and no, you didn't mention how this is set to improve) on society for their personal freedom. I understand that. Most often these libertarian interests align with criminal interests, I also understand that this is what happens with a bunch of sociopaths...

> (3) You can not hold CAD or NZD or USD or EUR on a bank from Brazil. You have to convert it and there is a 6% fee for it. This is on top of the exchange rate fee from transfer wise.

Can you just communicate with your libertarian tribes there, if you are not one of the persons actually allowed to communicate internationally ;).

0 comments

1 comments · 1 top-level

rglullis5y ago

> energy-wise (...) you didn't mention how this is set to improve

Not on this thread, but yes, I did talk about work on Proof-of-Stake on Ethereum and the work on layer-2 projects.

If you are interested, take a look at Loopring or Raiden, both projects allow value transfers between people at near-zero costs. Loopring is a bit more centralized than Raiden but its UX is easier, Raiden still is complicated to setup but can scale linearly with the number of nodes in the network.

> Most often these libertarian interests align with criminal interests.

Get rid of the weasel-words and try again. What is your actual condemnation here?

For whatever it is you think it is a crime, ask yourself (a) if crypto is enabling criminal actions that would be otherwise prevented and (b) how much these activities would not exist if the institutions were actually working at the best interest of the people.

Money laundering, drug/gun/people trafficking already exist without crypto. It's not like criminals will become good citizens if we get rid of crypto. Black markets come to exist because of oppressive regimes, not despite them.

j / k navigate · click thread line to collapse