this post was submitted on 27 Jul 2025
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No bank or goverment can control it. It is the benefit of being able to send money to anyone around the world while maintaining ownership of your money as if it were cash in hand.
Banks or governments as opposed to who though? There's a reason we usually want those publicly owned and regulated institutions to handle our transactions. Obviously, it depends what country you live in, and what currency you're talking about. But I don't think Bitcoin or any other cryptocurrency actually solves the problem it purports to.
Ideally, no one controls it. It's just exists as a medium for exchange.
There are both good and bad points to currency have value that can be adjusted by gov'ts; crypto currency solves one set of problems, but has it's own, inherent issues.
You're not really selling it for me, which I guess is the point aye? 😂
What I imagine as ideal is an open-source and transparent bank and payment system that issues its own currency backed by ties to its investment portfolio that is properly regulated by its host country. i.e. you would use their currency to trade among others on the platform according to the percentage value of their portfolio that you own as measured by the currency to which you which to convert your holdings for a given purchase. You could select different tiers of risk if you'd like your "savings" to grow in value over time but experience potential dips or even loss of value if there is major market stability.
I am not an expert on such things, but this at least has real links to tangible asset worth, and isn't based on the artificial scarcity of an increasingly unsolvable math problem.
Well, kind of. But the worth of those assets is largely due to perception, rather than real utility value. Like, real estate is stupidly expensive in many places, but it's expensive because people believe that it's expensive. When real estate bubble burst, you see the 'worth' of that real estate drop sharply. The utility value is having a place to sleep, but it's often treated as an investment. So you would still see currency value fluctuations. Currency issue by gov'ts largely has worth because the gov't says that it has worth; it's not tied to anything. (BTW - tying currency to a tangible asset limits your ability to add currency when necessary. It will tend to lead to depreciation--the value of the currency rising--which is usually a bad thing.)
The other problem is that corporations and banks go bust; if they were issuing currency, that would mean all your money would instantly be worthless.
Thanks for that. I am not suggesting it need to be directly tangible like the gold standard, but something ostensibly public (perhaps embedded into an international economic alliance) that is directly ties to ownership of a secure portfolio of investments across a variety of intrinsically valuable staples or otherwise being carefully managed by skilled investors.
Think 401K, and the bond market, but without being subject to the whims of national foreign policy.
Crypto regardless of how impenetrable it is technologically, if it's inevitably controlled by unethical actors, it's still worse for the world and not a safe investment to recommend. And like everything else, tangible or untangable, it's value is still subject to market interest, i.e. as you say, people agreeing to pay for it assuming others will buy it off them in the future.
Anti-inflationary to keep cash in BTC as opposed to sitting in an account at a bank
Until some guy in LA hires a bunch of moonlighting police officers to steel your laptop
Yup, just like cash.
That is exactly the problem. It has no real value as the entire thing is propped up by chaos. It could be worth a trillion dollars one day and then nothing the next.
To an extent cryptos only value is it can be turned into currency.
And therefore no recourse if you are robbed, scammed, etc. Try going to your local, or even federal authorities and explain to them that you lost the digital equivalent of $10000 and they won’t do a thing.
You can opt in to an arbitrator before sending the money.
And that helps you how in the event of a theft?
It prevents the theft in the first place because they'd need to hack two parties instead of just one.
Wow, are you really that clueless about crypto stealing malware, Fraud by crypto exchanges, Authentication attacks, etc?
None of those sorts of attacks would be prevented by the use any sort of escrow service because you’re not actively performing a transaction.
An Analysis of the first half of this year also shows a significant uptick in attacks on personal crypto wallets, and over $2 billion stolen so far in 2025.
How is malware going to steal funds locked in escrow?