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Comment by idiotsecant

10 hours ago

No. Permissioned cryptocurrency is all the horrible parts of cash and all the horrible parts of crypto put together with none of the advantages of either.

I want crypto because I don't trust nation states with the leverage and dials of fiat currency. All we've done is replace government with trusting whoever made a particular stablecoin.

Permissionless crypto is the only real crypto.

5 comments

idiotsecant

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dboreham  9 hours ago

All cryptocurrency is permissioned. This is because governments can make it illegal for someone to turn your cryptocurrency into real currency. You need their permission to turn it into pizzas and yachts.

  • idiotsecant  1 hour ago

    I think the point is that you stop caring about the fiat part of it at all. Government ownership of fiat currency is not a natural feature of the universe, it's just something we did for a little while.

  • edwinfredy  9 hours ago

    Only if you wanted to turn it into fiat currency for the transaction, right? If the yacht seller would take payment in crypto, you need no government’s permission, right?