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Daniël Franke 🏳️🌈
@ainmosni@berlin.social
This. If you can't spot obvious logical fallacies, and repeat them uncritically, then why should I trust you? Cryptocurrency evangelists tend to set up straw man arguments then claim to present solutions that don't even solve those problems!
The moment I see that a tech writer is into #cryptocurrency, I start being suspicious of their technical capabilities, even if the article/video is...
Personally, I want a trusted third party to mediate disputes. If transactions are completely non- reversible, and there is no, dispute, mediation, or remediation possible, the need for trust does NOT go away, it just shifts so that you must trust every entity you transact with.
"Commerce on the Internet has come to rely almost exclusively on financial institutions serving as trusted third parties to process electronic payments. While the system works well enough for most transactions, it still suffers from the inherent weaknesses of the trust based model. Completely non-reversible transactions are not really possible, since financial institutions cannot avoid mediating disputes." https://bitcoin.org/bitcoin.pdf