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Isn't there somebody you forgot to ask?
(lemmy.world)
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this post was submitted on 25 Jul 2025
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To the people who are pushing this:
Do you want everyone to start using crypto where all transactions are not controllable by you at all? Because this is how you get people to do that.
I highly doubt that crypto could deliver on that particular promise.
It already does deliver on that promise, crypto is used extensively online for drug orders. You may think that's bad, but it shows how well it works for secure and restriction less transactions.
Crypto is great for peer 2 peer money transfers. But when you have a legal big business you end up still having to deal with the big payment processors to do anything of substance with that crypto.
So for illegal and underground stuff it's great.
For big businesses that need to stay above board and legal. It becomes a dead end.
That's the whole thing. Crypto was supposed to be a currency system by using a block chain as a ledger.
Ethereum is kind of what crypto was thought up to be. A semi stable coin, that serves as decentralized currency.
In some ways it's brilliant; no institution that can watch what you buy, limit you or take their cut. But then again, it's rife with illegal transactions and some really impactful theoretical attacks, especially against the ledger. It's a blessing and a curse.
I don't think ETH was ever expected to be stable. Vitalik Buterin already had a good reputation and the pre-sale (ICO) was well-publicized. They expected ETH to be the liquidity for decentralized stable coins.
It's extremely clunky, it takes menace of being killed by the state before people will put up with the jank