this post was submitted on 16 May 2024
277 points (96.6% liked)
Technology
59534 readers
3195 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Video cameras. Also the shopkeep develops a reputation and is easily identifiable.
Technically the truth, but a MUCH larger percentage of the crypto ecosystem is devoted to scams. I don't think that is just "growing pains", the design of crypto, again, incentivizes this behavior because it gives victims no recourse.
Yes, but gullibility is the #1 problem and again, crypto has no safeguards or recourse.
Control but only within the system and ruleset that is made by those who control the chain. If institutions leverage their power in the space in a mass-adoption scenario, then they will be the ones making these rules and controlling what you can do, and the rigidity of crypto's rules advantage them in that case, no the consumer.
I don't have cameras in my store and i doubt you walk around with a gopro strapt to your forehead. Crypto stores develop reputation as well.
On what are you basing the opinion that MUCH larger percentage of the crypto ecosystem is devoted to scams? Legal action is the only recourse you have with cash, the same can be done with crypto. If design of crypto incentives scams then so does the design of cash.
Neither does cash, gift cards and all of the methods Nigerian princes and certified Microsoft technicians from IRS have been successfully using for years to scam their victims.
The whole point of making the system decentralized is so that a powerful actor can't seize control over it. There are hundreds of chains with different rules and regulations, you can chose the one that fits your needs, and if a powerful actor tries to change it's rules the community can decide that the version of the chain with altered rules isn't one they want to take part in and split off. It has happened before with block size wars that resulted in btc/bch split. Both chains run fine to this day, each with their own rules decided by their own community.