some fucking shitty crypto thing got """"hacked"""" and """"lost half a billion dollars"""" to """hackers"""" and this is their response lmaopic.twitter.com/BRMZPaEjqU
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Anyone who thinks the endgame of crypto isn't another government or collection thereof doesn't understand basic civics.
The hard part of currency isn't the god damn currency. The currency is trivial. The hard part of currency is military, police, courts, law. The things that make the currency _actually work in practice_ because it is backed up by some real-world enforcement mechanism.
Ever heard of smart contracts, oracles, channels, plasma chains, side chains or rollups? These can help solve this problem. Real estate in Australia already uses blockchain.
I have heard of all of them, and no, they do not solve any of these problems. The point is that they do not exist in the real world. That is the problem. Why is this so hard for people to understand?
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