However, the upside of driving your Tesla with a case full of bills is that there's no immutable world-wide distributed record of your transaction making it irreversible.
However, the upside of driving your Tesla with a case full of bills is that there's no immutable world-wide distributed record of your transaction making it irreversible.
Bitcoin isn't digital cash, it has different tradeoffs. That implies there are upsides/downsides to all of these factors.
In the end, this situation is one of the few things humans have grown really adept at handling. We're (compared to many other things) very good at negotiating complex social situations and teasing out who are getting shafted in a situation, and we have techniques for dealing with it. (Spreading rumours and/or going to the local leader are prominent among them.)
We have set up economic systems based on trust since forever, and they generally work very well. The only times they stop working are when too large authorities get involved. But there are many responses to that that aren't cryptocurrency.
This made me laugh. It's true, but the name literally means "digital cash".