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Devin Baker
@devinbaker.eth
Had a conversation with a hedge fund manager earlier His biggest reason for crypto skepticism (esp. the macro thesis): Since crypto is going after “money,” the biggest risk is sovereign states banning it And the more successful crypto is, the more likely it is to be banned What are your best counter-arguments?
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Jacob
@jrf
i don't think crypto is necessarily *going after* money it's going after tokenization of value money as a digital object is also the tokenization of value, altho not necessarily on a blockchain the govt can try to stop protocols (see tornado cash) but they're not really stopping it, just proscribing interactions open source software that secures value will likely persist despite govt attempts to stop it
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Matthew
@matthew
People around the world hold dollars (through stablecoins) as a hedge against their own currency and an investment asset. That might actually be more of a reason to ban it... but feels like that would also face way more pushback than if they were just using it to gamble.
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Varun Srinivasan
@v
why hasn't it happened yet?
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Nate Maddrey
@nmadd
Bitcoin and Ethereum have both reached escape velocity. They won’t be able to fully ban it at this point. And crypto is truly cross-border, you’d need multiple major world powers to agree to the ban. So the only real move is to embrace it before others do
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marv 🛸
@marvp
It initially started off as an alternative to the money system, but it isn't any more. Now it's much more about complementing the money system with new financial products.
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Caster Cat #648 🎩🧾
@ariansh.eth
To that I say
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