this post was submitted on 29 May 2024
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Well, if crypto bros are to be believed then this isn't fiat currency. If it's not fiat, then it shouldn't be enforced by state violence, meaning the courts, right? Possession is ownership when there is no remedy, so the concept of theft is meaningless. Any attempt to fix this would violate the supremacy of the blockchain.
I mean they actually noticed this was a problem and reinvented the concept of banks to entrust them with their crypto. You know, the kind of trust that crypto was supposed to make obsolete, but then the crypto bros realised how much it sucks to suck and decided they needed a bit of nannying after all.