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this post was submitted on 21 Dec 2024
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Technology
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Nobody who understands the technology wants it. Blockchain is an extraordinarily wasteful and buggy solution to the distributed-ledger problem, with some appallingly bad privacy problems (pseudonimity is not anonymity). And the other technical features of the bitcoin implementation are even less novel.
The only banks getting involved with cryptocurrency are doing it to get a piece of the grift. Governments have a legitimate interest in preventing money-laundering, and we've seen what happens when unprincipled people with money can pay off whoever they like. So your paranoia is misplaced.