I would generally agree, and have brought up my concerns in regards to accountability before. (not in the context of crypto)
And while this is true in theory, the reality as far as I can tell is that we already have a system of no accountability - for a certain privileged sub-group of society. All crypto does is to level the field, and that's a big net win in my book.
Now if panama and paradise papers had lead to anything other than journalists getting killed, trillion dollar corporations didn't keep buying up and stifling competition, insider trading by CEOs and politicians wasn't rampant, politics as a whole was not a money game and celebrities and high ranking officials didn't get off scoff free for crimes that would put lesser fortunate or connected individuals behind bars for years if not decades, maybe, maybe then accountability would be a valid point.
Until then I will celebrate the fact that the odds are a little more evened out now than they were before.
"...for a certain privileged sub-group of society. All crypto does is to level the field, and that's a big net win in my book."
Is the thinking of some people that problem today is that some very wealthy/powerful have a vast, unfair, advantage over ... other very wealthy people? Or something.
The concept is bizarre. Have you not thought that a process that facilitates unlimited, unbridled competition tends to produce a few winners, the wealthy and powerful, and those winners, having more power, squash the competition following the rules of this unbridled competition, which isn't going to prevent them from using their wealth and power for competition.
> And while this is true in theory, the reality as far as I can tell is that we already have a system of no accountability - for a certain privileged sub-group of society. All crypto does is to level the field, and that's a big net win in my book.
This isn't true at all.
What you describe isn't really relevant to cryptocurrency. You might as well advocate for the abolition of taxation to "even the playing field." The resulting societal disaster be darned.
> You might as well advocate for the abolition of taxation to "even the playing field." The resulting societal disaster be darned.
No, not at all. Taxation is another broken system that needs to be fixed, not abolished. Voting has proven to do nothing. The act of protesting has done little, and continues to be attacked with nonsense bills.
All that's left is what everyone has been repeating for the past five decades: To vote with our money.
Now people are creating ways to remove their money from systems that are controlled by regulators that continue to disappoint. It's a consequence more than it is anything else. Obviously this, too, has its own set of drawbacks, but "societal disaster" really is not the one I'm worried about, because we're already headed that way with what he have right now.
And while this is true in theory, the reality as far as I can tell is that we already have a system of no accountability - for a certain privileged sub-group of society. All crypto does is to level the field, and that's a big net win in my book.
Now if panama and paradise papers had lead to anything other than journalists getting killed, trillion dollar corporations didn't keep buying up and stifling competition, insider trading by CEOs and politicians wasn't rampant, politics as a whole was not a money game and celebrities and high ranking officials didn't get off scoff free for crimes that would put lesser fortunate or connected individuals behind bars for years if not decades, maybe, maybe then accountability would be a valid point.
Until then I will celebrate the fact that the odds are a little more evened out now than they were before.