Comment by Tangurena2
2 years ago
The short history of cryptocurrency has repeated the reason why all those decades of securities and banking laws/regulations exist.
The collapse in trust of governments is due to lobbyist bribing politicians. And corrupt politicians. And media controlled by a few billionaires who benefit from that distrust.
I think transparency has far more to do with the distrust than any media. Governments got used to being duplicitous hypocrites for generations. The fact government response is to immediately circle their wagons and resist any efforts to become more trustworthy proves they have well-earned their distrust, and no amount of doom and gloom over the dangers of lack of trust will fix that.
“collapse in trust of governments”
I’m pretty sure it’s for 2 reasons: 1) politicians are slick hair car salesman types that have no shame, 2) government being incompetent.
Re 2, if the government could do the things they promised to do, things they charge us for, California high speed rail for example, then people would trust them as much as big business. I can sue a big business, but thanks to incentives I rarely have to. The government on the other hand has lost more lawsuits, screwed over more people, and destroyed the environment to a much greater extent than any single business could manage to do. They use their monopoly on violence to avoid accountability, and waste public funds on their own lifelong political careers, frittering public money away on their own selfish partisan squabbles. Businesses are rarely too big to fail, and therefor cannot behave with impunity. There are only 2 parties. Imagine a world with only 2 corporations!