Comment on US passes Genius Act, first major national crypto legislation

• knightly@pawb.social ⁨1⁩ ⁨month⁩ ago

  As opposed to crypto, whose track record is barely over a decade old and filled to the brim with scams.

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  • locuester@lemmy.zip ⁨1⁩ ⁨month⁩ ago

    Scamming is done by humans, not digital currency. Scamming isn’t new.

    Crypto is liked by scammers for the same reason it’s so valuable to everyone else, including nation states. It’s irreversible. It’s a mathematically perfect ledger objective of corruption and military might. It’s a source of truth in a very grey world.

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    • knightly@pawb.social ⁨1⁩ ⁨month⁩ ago

      Irreversability is a liability for a currency.

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      • locuester@lemmy.zip ⁨1⁩ ⁨month⁩ ago

        Irreversibility is what Bitcoin brought to the table. Prior to it, nothing else has ever had that capability. It’s literally the scientific breakthrough. It’s why it holds value.

        If you can’t see that value, that’s one thing. But it is there.

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