Like the US dollar and Postgres?
For like $200 anyone can start a business entity in the US with a tax ID and a bank, I’m still yet to understand how crypto is better other than for circumventing regulators
Irreversible is also not a good thing just ask anyone who had their NFTs stolen during that craze. If someone hacks my bank account or skims my card and transfers the money out the bank can reverse a lot of those transactions. Irreversibility wipes out decades of consumer protection advances.
See Monero
So is cash. What we really need are ways of scanning a piece of fiat currency that instantly transfers that money to an account while then disabling the physical copy from the registry as valid. That's how silly I see crypto for anything other than illicit transactions
https://netzpolitik.org/2025/bargeld-tracking-du-hast-ueberw...
Irreversible is bad because mistakes happen. I lost ~$1,000 in a bad transfer because of a typo.
Publicly verifiable -- not good because I don't want the public knowing what I buy.
Pseudonymous is the worst of both. Is it or is it not me? them?
I am thinking digital cash using pub keys on a network run from space on something like starlink sats.
Was the option of doing a much smaller amount available to validate the account before following up with the full transfer? I've never understood not doing a test transfer first.
The one to look at for that is Monero: the closest thing to private(anonymous) digital cash that I've found (so far).
I think Bitcoin has become a typical fiat asset ouroboros now, because the people who actually want to circumvent regulators are using Monero (which is why Monero is banned in most countries), while the Bitcoin price is supported almost entirely by speculation and a little bit by people doing only-slightly-shady things with crypto who haven't noticed everyone else moved to Monero.
