Every time a user from a bitcoin-themed instance follows me I am reminded I need to write this piece I have in my head about how cryptocurrencies (especially those offering "perfect privacy") are going to be a boon to organized crime and corrupted officials, with no real benefits to the majority of the population.

Unless some real friction is introduced that grows exponentially with the transaction amount.

@rysiek I also have a bunch of Thoughts on that, especially in terms of how the economic logic of blockchains as far as I can tell is exclusively accumulative in existing cases. Have more -> get more.

@pettter
That's my main worry about PoS cryptos. I had some thoughts on designing the economy of those in ways that would avoid that, but implementing such a design would be much less profitable that a more natural one, so I feel it's mostly hopeless.
@rysiek

@timorl Yeah, you have to bake it in ground up, and explicitly _not_ worry about buy-in or market share, which is going to be a problem in terms of hype.

And if you _do_ end up getting some high valuation at some point, your security calculus is going to be massively unbalanced.

It's a mess, and I'm not sure if there's anything you could do that LETS systems don't do better anyway.
@rysiek