Two opposing narratives about how cryptocurrency might affect leveraging/deleveraging in our debt-based economic systems. 1) The return of sound money will destroy fiat and the unsound credit/debt/leverage system built on top of fiat.
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And now imagine that figuring out a financial crisis takes the forensic network security skills it took to solve NotPetya, plus a
@VitalikButerin-level of understanding adversarial network economics. It seems...unlikely.Show this thread -
In the longer-term, the innovation & stability of private competing financial systems will battle with the increased opacity & complexity of this new tech. The result could be record safety levels, like cars today, or apocalyptic dangers, like media today.
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Most likely, both will co-exist, customers will have to make good decisions (about what tech to use, or whose tech advice to follow), and people will (as always) get differing results depending on the quality of their choices. (inspired by ideas from Will Eden)
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End of conversation
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